Published 2025-11-06 06:30
Checkin.com Group (STO:CHECK) reports that cost focus continues to strengthen EBITDA while growth has yet to return.
The report in brief:
Q3 2025 (vs Q3 2024):
Net revenue decreased to KSEK 17,436 (18,646) which corresponds to a growth of -6 (-38)% compared to the same period 2024. At constant currencies the growth was -3 (-36)%. Compared to the second quarter of 2025 Net revenue growth amounted to -4 (-9)%.
Gross profit for the period amounted to KSEK 12,691 (13,646) with a margin of 73 (73)%.
EBITDA for the period amounted to KSEK 6,044 (4,259) with a margin of 35 (23)%.
Cash flow from operating activities amounted to KSEK 286 (2,023).
Net Revenue Retention LTM amounted to 90 (58)%.
Cash and cash equivalents amounted to KSEK 14,261 (30,232).
CEO letter from the quarterly report:
The third quarter of 2025 was characterized by continued strong cost focus and improved EBITDA. Revenue continued to decline slightly to MSEK 17.4, while the EBITDA margin went up to 35 percent – a significant increase compared to previous quarters. The improvement in the EBITDA margin is a result of the efficiency measures initiated during the year on the cost side. We have optimized personnel, IT and marketing costs in our effort to achieve positive cash flow again.
After the end of the quarter, we have signed several important customer agreements. Most significant is the collaboration with the Visma Group, where our solutions will be integrated within several of their business areas. This partnership marks an important step in our plan to grow the Fintech vertical and confirms the strength of our offering towards larger, regulated players.
While we see weaker development in the travel vertical, we continue to have strong momentum in the iGaming vertical, where both regulated markets and our omnichannel offering are developing positively. Following the launch of Solaire Resort in Q2, we have, since the end of the third quarter, also signed an agreement with SkyCity, based in New Zealand. The partnership marks our first establishment in Oceania and represents further geographical diversification. In addition, the launch of the French Casino Barrière is planned for the end of the year, which will further strengthen our position in the segment. Going forward, we see great opportunities among companies that move from a physical environment to increased digitalization – a development in which our technology has a clear role.
Cost discipline has resulted in a more focused organization with improved productivity per employee during the year. We continue to operate the business with a strong cash flow focus and a balanced cost structure, while investing selectively in areas with high growth potential.
The global biometrics and facial recognition market is expected to grow by at least 15 percent annually over the coming years. Although we have not met our targets over the past two years, we remain confident that we can become a major player in the industry going forward – not least through the strategic partnerships now in place that enable broader distribution of our software.
We are aware that while maintaining a strong cost focus, we need to increase our revenues on a monthly basis – both from a cash flow perspective and to once again become a growth company to be reckoned with.
We leave the third quarter with a more controlled financial position, improved profitability and exciting future prospects.
With several planned launches in the fourth quarter, we see opportunities to end the year with strengthened profitability and an expanded market position in our core areas.
Christian Karlsson
Acting CEO, Checkin.com Group
The full quarterly report is now published and available on:
https://group.checkin.com/investors/reports/
Webcast (Swedish)
Investors, analysts and journalists are invited to a webcast 2025-11-06 11:00 CET where the company's CEO and CFO will present the report, followed by a Q&A session. The presentation is available through this link: https://www.finwire.tv/webcast/checkin-com/q3-2025/
An English version of the webcast will be published on the company's website later today.