Core Insights - Serstech faced significant challenges in 2025 due to geopolitical and macroeconomic factors, particularly the impact of tariff uncertainties which led to a halt in incoming orders for over half the year [3] - Despite lower-than-expected sales, the company achieved important strategic milestones, including the full operational status of in-house production, which is expected to improve gross margins significantly in the coming years [4] - The closure of the Romanian subsidiary has resulted in lower costs and increased R&D productivity, while the company has initiated investments in artificial intelligence to enhance product performance [5] Financial Performance - Total sales for 2025 were reported at 38.6 MSEK, a decrease from 52.3 MSEK in the previous year [7] - EBITDA for 2025 was -20.9 MSEK, compared to -1.2 MSEK in 2024, indicating a substantial decline in profitability [7] - The company reported a cash flow from operating activities of -28.0 MSEK in 2025, a significant drop from 0.6 MSEK in 2024 [7] Strategic Focus - The company plans to shift its focus from R&D to sales and marketing starting in 2026, with expectations of strong and profitable growth due to a larger sales organization and improved product performance [8] - Serstech aims for an average annual sales growth exceeding 30% through 2030, with an EBITDA margin target of over 20% by 2027 [6] - The long-term goal of achieving an 80% gross margin remains unchanged, with several steps taken towards this target [4]