Clavister Ab · OMXSTO:CLAV
Clavister Ab — Q1 2025 Earnings Presentation
19 slides from Clavister Ab's earnings presentation, May 8, 2025
Slide 1: Interim Report January – March 2025
Interim Report Clavister Holding AB (publ) January – March 2025
Slide 2: Summary of the Quarter
2 Summary of the Quarter Key Metrics Highlights from the Quarter (MSEK) Q1 2025 Q1 2024 2024 Order Intake 110.3 38.0 259.4 Net Sales grew by 21 % and ARR grew by 8 %. Order Intake Growth 190.3 % 9.7 % -20.1 % Deliveries of hardware, in numbers, increased by 111 %. Annual Recurring Revenue (ARR)
Slide 3: Comments by the CEO
3 Comments by the CEO The world is undergoing an unprecedented geopolitical shift, Order intake surged by 190 % during the quarter, positively where cyber threats and hybrid warfare have become part of impacted by additional defence related orders. everyday life. European cybersecurity defences are
Slide 4: CEO comments continued and Outlook
4 In the civil firewall business, Clavister secured a contract valued Outlook I would like to take this opportunity to thank our employees, at approximately 15 MSEK with a global technology provider We continue to accelerate our sales growth because of our customers, partners, and shareholders for s
Slide 5: Comments on Financial Statement
5 Comments on Financial Statement Order Intake Total order intake for the quarter amounted to 110.3 (38.0) MSEK, a year-on-year increase of 190.3 %. The increase is mainly attributable to an additional large order from BAE Systems for the Cyber Armour product family to the CV90 platform. Deals withi
Slide 6: Annual Recurring Revenue, Gross Margin, Operating Expenses
6 Annual Recurring Revenue Gross Margin and Gross Profit Operating Expenses Annual recurring revenue on 31 March 2025 amounted to Gross margin amounted to 75.2 (80.3) %. Total operating expenses (OPEX) amounted to -43.5 (-39.4) 133.9 (123.5) MSEK, a year-on-year increase of 8.4 %. MSEK, whereof pers
Slide 7: Financial net, equity and operating result
7 recurring expenses relate to the ongoing legal dispute with Financial Net Shareholders’ Equity and Liabilities FortifiedID AB. Financial income and expenses amounted to 7.6 (-19.6) MSEK. Equity amounted to -81.2 (-110.5) MSEK. Negative group The quarter saw strong exchange rate movements, with SEK
Slide 8: Cash position, related parties and planning assumptions
8 deferral of payment of taxes regarding VAT and employer subsidiary PhenixID AB. Please see the Annual Report 2024 exercise rate of approximately 98.9 percent. Clavister will thus contributions. for more information. receive approximately 63 MSEK before issue costs. Change in cash position was -19.
Slide 9: Condensed Consolidated Income Statement
9 Condensed Consolidated Income Statement (TSEK) 2025 2024 2024 Jan - Mar Jan - Mar Jan - Dec Net sales 53,352 43,999 191,663 Other revenue 855 1,133 6,668 Total revenue 54,207 45,132 198,331 COGS -13,461 -8,884 -41,676 Gross profit 40,746 36,248 156,655 Cap. Dev. Expenses 9,379 10,719 37,946 Staff
Slide 10: Condensed Consolidated Balance Sheet
10 Condensed Consolidated Balance Sheet (TSEK) 2025-03-31 2024-03-31 2024-12-31 (TSEK) 2025-03-31 2024-03-31 2024-12-31 Assets Equity and liabilities Non-current assets Equity Goodwill 66,697 66,697 66,697 Equity -81,222 -110,469 -84,185 Intangible assets 110,473 110,014 110,044 Total equity -81,222
Slide 11: Condensed Statement of Changes in Equity
11 Condensed Statement of Changes in Equity (TSEK) 2025 2024 2024 Jan - Mar Jan - Mar Jan - Dec Equity, beginning of period -84,185 -228,882 -228,882 Cash issue 0 169,591 215,346 Issue expenses -95 -27,867 -28,082 Non-registered issue 0 0 588 Share-based compensation 0 0 12,880 Other total income fo
Slide 12: Condensed Consolidated Cash Flow Statement
12 Condensed Consolidated Cash Flow Statement (TSEK) 2025 2024 2024 Jan - Mar Jan - Mar Jan - Dec Profit (loss) before taxes 3,167 -23,326 -56,139 Reversal of depreciation and write-downs 11,052 11,232 44,285 Other adjustments for non-cash items, etc * -9,897 14,781 19,501 Paid taxes -114 -162 493 C
Slide 13: Condensed Income Statement for Parent Company
13 Condensed Income Statement for Parent Company Clavister Holding AB (TSEK) 2025 2024 2024 Jan - Mar Jan - Mar Jan - Dec Net sales 2,250 2,252 9,005 Total revenue 2,250 2,252 9,005 Staff costs -4,499 -2,752 -12,496 Other external costs -951 -1,070 -6,081 EBITDA -3,200 -1,570 -9,571 Financial items
Slide 14: Condensed Balance Sheet for Parent Company
14 Condensed Balance Sheet for Parent Company Clavister Holding AB (TSEK) 2025-03-31 2024-03-31 2024-12-31 Assets Fixed assets Shares in group companies 475,155 462,274 475,155 Receivables from group companies 4,945 8,000 19,900 Total fixed assets 480,100 470,274 495,055 Current assets Current recei
Slide 15: Notes
15 Notes Note 1 Accounting Policies has been made in accordance with the extrapolated price The consolidated financial statements have been prepared in Number of % of total according to the Black & Scholes model and has therefore not accordance with the International Financial Reporting shares numbe
Slide 16: Convertible Loan, Pledged Assets, Alternative Performance Measures
16 Convertible Loan Note 5 Pledged Assets Note 7 Alternative Performance Measures The issued convertible loan amounts to 10 MSEK and matures GROUP Clavister uses various key figures, including alternative on May 31, 2027, with a conversion price of 5.61 SEK. At performance measures (APMs), for inter
Slide 17: Note 8 Definitions
17 Note 8 Definitions Cash OPEX – Operational expenditures, including capitalized described in the annual report 2022). Adjustments of the net R&D, with a cash-flow impact. order book value may occur from time to time due to for Adjusted EBIT – EBIT adjusted for non-recurring expenses. instance curr
Slide 18: Note 9 Financial Metrics
18 Note 9 Financial Metrics TSEK 2025 2024 2024 Jan - Mar Jan - Mar Jan - Dec Net sales (TSEK) 53,352 43,999 191,663 Total revenue (TSEK) 54,207 45,132 198,331 Gross profit (TSEK) 40,746 36,248 156,655 Gross margin (%) 75.2 % 80.3 % 79.0 % EBITDA (TSEK) 6,607 7,536 31,460 Operating profit (TSEK) -4,
Slide 19: Report Information
19 Report Information Financial Calendar Annual General Interim Report Interim Report Interim Report Meeting Apr - Jun 2025 Jul - Sept 2025 Oct - Dec 2025 19 May 2025 21 Aug 2025 6 Nov 2025 12 Feb 2025 The Share Any forward-looking statements in this report Exchange: Nasdaq First North are based on
Clavister Holding AB (publ.) — Q1 2025 Earnings Presentation on 6ix