Carasent Ab · OMXSTO:CARA
Carasent Ab — Q2 2025 Earnings Presentation
13 slides from Carasent Ab's earnings presentation, Jul 10, 2025
Slide 1: Interim report Q2
Interim report Q2 10 July 2025 Driving efficiency and quality in the world of care
Slide 2: Agenda
Agenda Todays presenters 1 Company update 2 Financial update Daniel Öhman Svein Martin Bjørnstad CEO CFO
Slide 3: Highlights Q2
Highlights Q2 3 Update ▪ Targets revised, performance behind plan ▪ Continued investments into AI solution, 30 users live ▪ Signed Medtanken, primary care in VGR ▪ New medium-term targets ▪ Share buyback program Growth ▪ Signed not implemented ARR amounts to SEK 12m ▪ 13% organic recurring revenue g
Slide 4: Main drivers for revised targets
Main drivers for revised targets 4 Ad Opus Metodika AI investments ▪ Prolonged ▪ More work than planned ▪ We see great potential underperformance and needed for the adaption and has opted to invest high churn for Volvat more than planned ▪ Organisational restructuring -3m effect -4m effect -3m effec
Slide 5: Revised Targets for 2025
Revised Targets for 2025 5 Financial targets 2025 2024A 2025 new target 2025 old target Revenue SEK 275m SEK 345-350m SEK 350m EBITDA 42m 75m 82-88m EBITDA – capex 1m 35m 44-49m
Slide 6: New medium-term targets
New medium-term targets 6 2028 target Revenue growth Average revenue growth of 15% 2026-2028 EBITDA margin FY28 EBITDA margin: 35% EBITDAC margin Capex mid to high single digit % of revenue Disciplined cost control coupled with ~85% gross margin result in rapid cash flow growth
Slide 7: Financial update
Carasent Capital Market Day 2023 Financial update Q2 2025
Slide 8: Carasent – Q2 financial highlights
Carasent – Q2 financial highlights 8 317 13% 15% Million contracted ARR per Q2 Organic recurring EBITDA margin 2025 revenue growth in the quarter 27% 109% 3% Contracted ARR growth Net retention rate EBITDA – capex margin
Slide 9: Scalability
Scalability 9 Revenue conversion to profits behind targets in Q2 Q2 2024 – Q2 2025 EBITDAC improvement excluding M&A ▪ Excluding the effects of Data-Al ▪ Personnel expense is high in Q2 Restructuring ▪ 56% of revenue increase converted to 4 costs and 8 option program EBITDAC 1 ▪ Close to target adju
Slide 10: 27% contracted ARR growth
27% contracted ARR growth 10 Ending Q2 at a good pace with 17% organic ARR growth Implemented ARR Signed, not implemented ARR +27% 317 12 285 32 12 9 12 250 36 17 -4% +5% +16% 17% Q2’24 ARR Net upsale Churn New customers Q2’25 ARR M&A Q2’25 ARR (constant currency) (actual)
Slide 11: Improvements YoY
Improvements YoY 11 SEKm Q2 2025 Q2 2024 YoY growth H1 2025 H1 2024 1▪ Revenue growth of 26%, 13% total Webdoc 37.8 33.1 14% 76 66 organic revenue growth Other EHR 23.7 14.9 59% 48 29 Platform products 14.6 12.8 14% 30 26 2▪ High personnel expense in Q2. Growth Consulting and other 6.7 5.1 33% 15 10
Slide 12: Cash flow affected by working capital
Cash flow affected by working capital 12 SEKm Q2 2025 Q2 2024 H1 2025 H1 2024 ▪ Improvements in profitability and lower investments Revenue 82.9 65.9 168.1 132.0 ▪ Working capital headwinds with Reported EBITDA 12.1 7.8 26.0 14.0 relisting cost paid in H1 Change in working capital 0.7 6.3 -8.6 12.9
Slide 13: Q&A
Q&A