Slide 1: Interim report Q3
Interim report Q3 16 October 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: Fast growing and highly recurring EHR business
Fast growing and highly recurring EHR business 3 329 LTM quarterly revenue 311 SEKm 294 Rapidly improving financials 275 261 233 240 245 250 254 335m 16% 29% 220 Contracted ARR Organic ARR EBITDA margin 195 Q3 2025 growth Q3 2025 179 168 154 137 128 Sticky SaaS business model >90% 97% 111% Recurring
Slide 4: Highlights Q3
Highlights Q3 4 Update ▪ Strong improvements ▪ Lower growth within Webdoc in the quarter ▪ Many long development projects reaching the market ▪ Important to succeed with implementations in Q4 Growth ▪ Signed not implemented ARR amounts to SEK 12m ▪ 16% organic ARR growth and 13% reported organic gro
Slide 5: Investments in future growth
Investments in future growth 5 Heavy investments across multiple dimensions where the largest initiatives are the German expansion, our new AI solution and the surgery module Invested capital Initiative Description Timeline and status Total This year In pilot stage. Start commercial Germany (market
Slide 6: Journey Ahead
Journey Ahead 6 Strong organic • Key to deliver implementation projects and new development on time Pilots in surgery, Volvat, Medsum (ambient AI-listening) etc growth • Efficient use of • Continuous efficiency gains Cost control through prioritization and diligent financial follow up resources • •
Slide 7: Financial update
Carasent Capital Market Day 2023 Financial update Q3 2025
Slide 8: Carasent – Q3 financial highlights
Carasent – Q3 financial highlights 8 335 16% 29% Million contracted ARR per Q3 Organic ARR growth EBITDA margin 2025 27% 111% 15% ARR growth Net retention rate EBITDA – capex margin
Slide 9: 27% contracted ARR growth
27% contracted ARR growth 9 Ending Q3 at a good pace with 16% organic ARR growth Implemented ARR Signed, not implemented ARR 335 12 305 31 12 271 9 13 36 17 -3% +5% +14% 16% Q3’24 ARR Net upsale Churn New customers Q3’25 ARR M&A Q3’25 ARR (constant currency) (actual)
Slide 10: Strong improvements YoY
Strong improvements YoY 10 SEKm Q3 2025 Q3 2024 YoY growth YTD 2025 YTD 2024 1▪ New revenue categories to better reflect Subscription based 67.2 50.4 33 % 196.9 148.6 business model Transaction based 10.3 9.9 4% 33.9 33.4 Consulting and other 4.7 4.2 11 % 19.4 14.5 2▪ Shift from transaction based re
Slide 11: Scalability
Scalability 11 Revenue conversion to profits good in Q3 Q3 2024 – Q3 2025 EBITDAC improvement excluding M&A One-off last ▪ Cash cost base increased 0.5m excluding year of SEK 6 million one-offs last year ▪ 82% of revenue increase down to 7.8 EBITDAC (154% including the one-offs last 1.0 0.5 year) 6.
Slide 12: Scalability over time
Scalability over time 12 Keeping costs flat while growing revenues LTM development of cash cost base (adjusted for one-offs) LTM Revenue: 329m 245 243 236 231 231 229 229 234 234 Flat cost base Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 LTM revenues LTM opex & capex organic LTM
Slide 13: Cash flow affected by working capital
Cash flow affected by working capital 13 SEKm Q3 2025 Q3 2024 YTD Q3 2025 YTD Q3 2024 ▪ Strong improvements in profitability supports cash flow Revenue 82.2 64.5 250.3 196.5 ▪ Working capital is seasonally Reported EBITDA 23.6 6.3 49.6 20.3 weak in Q3 Change in working capital -21.1 -11.8 -29.7 1.1
Slide 14: Q&A
Q&A