Clavister Ab · OMXSTO:CLAV
Clavister Ab — Q3 2025 Earnings Presentation
19 slides from Clavister Ab's earnings presentation, Nov 6, 2025
Slide 1: Interim Report July – September 2025
Interim Report Clavister AB (publ) Org. No. 556917-6612 July – September 2025
Slide 2: Summary of the Quarter
2 Summary of the Quarter Key Metrics Highlights from the Quarter Net Sales grew by 15 % and ARR grew by 9 %. (MSEK) Q3 2025 Q3 2024 9M 2025 9M 2024 2024 Order Intake 34.1 37.4 220,7 125.8 259.4 Positive EBIT at 2 MSEK and positive Net Result. Order Intake Growth -8.8 % 31.2 % 75.4 % 16.8 % -20.1
Slide 3: Comments by the CEO
3 Comments by the CEO Clavister continues to grow in step with the increasing demand concrete example is the European Parliament’s report on Globally, defence investments are growing dramatically amid for European cybersecurity. During the third quarter of 2025, European technological sovereignty, a
Slide 4: Outlook
4 Given this, we have chosen to withdraw our full-year growth and EBIT targets. However, it is important to emphasize that this is purely a timing issue – not a broader business risk. Outlook Clavister is well positioned in a market that is clearly moving toward greater European digital sovereignty.
Slide 5: Comments on Financial Statement
5 Comments on Financial Statement Order Intake The order book balance on 30 September 2025 amounted to Total order intake for the quarter amounted to 31.4 (37.4) 361.2 (233.6) MSEK. Most of the order book balance relates to MSEK, a year-on-year decrease of 8.8 %. The decrease is contracts within the
Slide 6: Net sales, gross margin and gross profit
6 Deals providing recurring license revenue are the norm in The change in expense mix is explained by some new Clavister’s sales. An exception is sales to the defence sector, recruitment of employees, restructuring within the which currently predominantly consists of products with a organisation and
Slide 7: Financial items, result after tax and capitalised development
7 warrants as well as costs related to long-term liabilities -0.8 (-0.1) MSEK. The financial net consists of the following items impacting cash-flow; interest on factoring, short-term interest to lenders, currency effects on amortisation and interest income -0.7 (-3.2) MSEK and interest in leasing c
Slide 8: Financial Net Debt
8 Financial Net Debt Impairment Testing Material Post-Closing Events On 30 September 2025, the financial net debt amounted to No need for impairment has been identified during the first After the end of the reporting period, Clavister announced -89.9 (-195.6) MSEK. The reduction of the financial net
Slide 9: Condensed Consolidated Income Statement
9 Condensed Consolidated Income Statement (TSEK) 2025 2024 2025 2024 2024 Jul - Sep Jul - Sep Jan - Sep Jan - Sep Jan - Dec Net sales 50 492 43 773 158 604 132 620 191 663 Other revenue 776 1 858 2 563 4 321 6 668 Total revenue 51 268 45 631 161 167 136 941 198 331 COGS -10 255 -8 941 -34 220 -27 45
Slide 10: Condensed Consolidated Balance Sheet
10 Condensed Consolidated Balance Sheet (TSEK) 2025-09-30 2024-09-30 2024-12-31 (TSEK) 2025-09-30 2024-09-30 2024-12-31 Assets Equity and liabilities Equity Non-current assets Equity -39 230 -125 387 -84 185 Goodwill 66 697 66 697 66 697 Total equity -39 230 -125 387 -84 185 Intangible assets 109 90
Slide 11: Condensed Statement of Changes in Equity
11 Condensed Statement of Changes in Equity (TSEK) 2025 2024 2025 2024 2024 Jul - Sep Jul - Sep Jan - Sep Jan - Sep Jan - Dec Equity, beginning of period -39 485 -120 837 -84 185 -228 882 -228 882 Cash issue 0 0 62 887 169 614 215 346 Issue expenses 0 0 -5 372 -28 082 -28 082 Non-registered issue 0
Slide 12: Condensed Consolidated Cash Flow Statement
12 Condensed Consolidated Cash Flow Statement (TSEK) 2025 2024 2025 2024 2024 Jul - Sep Jul - Sep Jan - Sep Jan - Sep Jan - Dec Profit (loss) before taxes 295 -5 111 -12 415 -38 577 -56 139 Reversal of depreciation and write-downs 10 638 9 888 33 228 32 982 44 285 Other adjustments for non-cash item
Slide 13: Condensed Income Statement for Parent Company Clavister AB
13 Condensed Income Statement for Parent Company Clavister AB (TSEK) 2025 2024 2025 2024 2024 Jul- Sep Jul- Sep Jan - Sep Jan - Sep Jan - Dec Net sales 2 250 2 251 6 752 6 754 9 005 Total revenue 2 250 2 251 6 752 6 754 9 005 Staff costs -1 844 -2 759 -12 275 -8 875 -12 496 Other external costs -1 1
Slide 14: Condensed Balance Sheet for Parent Company Clavister AB
14 Condensed Balance Sheet for Parent Company Clavister AB (TSEK) 2025-09-30 2024-09-30 2024-12-31 Assets Fixed assets Shares in group companies 475 155 462 274 475 155 Receivables from group companies 4 945 0 19 900 Total fixed assets 480 100 462 274 495 055 Current assets Current receivables 520 6
Slide 15: Notes
15 Notes Note 1 Accounting Policies The consolidated financial statements have been prepared in % of total Note 4 Share-Related Programs (Warrants) and Convertible accordance with the International Financial Reporting THE 10 LARGEST Number of shares number Loan Standards (IFRS), as issued by the Int
Slide 16: Convertible Loan, Pledged Assets and 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 2025 2024 2024 Jul - Sep Jul - Sep Jan - Sep Jan - Sep Jan - Dec Net sales (TSEK) 50 492 43 773 158 604 132 620 191 663 Total revenue (TSEK) 51 268 45 631 161 167 136 941 198 331 Gross profit (TSEK) 41 013 36 690 126 947 109 488 156 655 Gross margin (%) 80,
Slide 19: Report Information
19 Report Information Financial Calendar Interim Report Release of Interim Report Interim Report Oct - Dec 2025 Annual Report Jan - Mar 2026 Apr - June 2026 12 Feb 2025 2025 7 May 2026 20 August 2026 27 Apr 2026 The Share Any forward-looking statements in this report Exchange: Nasdaq First North are
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