Digitalist Group Plc’s Business Review, 1 January

Core Insights - The third quarter of 2025 experienced a decline in revenues compared to the same period in 2024, attributed to low client activity in the Nordic markets, although the first nine months showed moderate growth and gradual earnings improvement [5][6] - Turnover for January–September 2025 increased by 8.1% to EUR 12.4 million, while EBITDA improved, indicating positive effects from operational efficiency and cost control measures [6][10] - The company is focusing on execution and optimization rather than expansion, with a strong emphasis on applied AI, which is seen as a critical area for future development [7][9] Financial Performance - Q3 2025 turnover was EUR 3.3 million, a decrease of 6.7% from EUR 3.6 million in Q3 2024 [10] - Q3 2025 EBITDA was EUR -0.6 million, representing -18.8% of turnover, compared to -5.0% in the previous year [10] - For the January–September period, net income was EUR -3.6 million, a decrease from EUR -4.0 million in the same period last year, with earnings per share improving slightly from EUR -1.40 to EUR -1.27 [10] Strategic Focus - The company has strengthened its position in applied AI, with its platform Stacken being utilized for various client initiatives, reflecting growing demand for secure AI solutions [7] - Digitalist Open Tech AB received ISO/IEC 42001 certification, enhancing the company's credibility in responsible AI development [8] - The company has expanded its work within the Swedish public sector, taking on new assignments with agencies such as the Swedish Gender Equality Agency and the National Board of Health and Welfare [9] Future Outlook - The company anticipates improvements in turnover and EBITDA for 2025 compared to 2024 [12] - Despite efficiency measures, cash flow is expected to be negative over the next 12 months, although working capital is deemed sufficient for operational needs [13]