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Third party research

Litium: Strong client intake bodes well for '25 growth - ABG

Litium

This is a third party research report and does not necessarily reflect our views or values

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Sales in line with ABGSCe, ARR slightly below
Limited, downward consensus estimate revisions
Highlights record-high client intake


Q1'25 report

Litium reported an ARR of SEK 73.3m (-2% vs. ABGSCe 74.5m), net sales of SEK 18.9m (+/-0% vs. ABGSCe 18.9m) and an EBITDA of SEK 3.8m (-20% vs. ABGSCe 4.8m). The deviation on EBITDA is primarily explained by the CEO transition as well as some one-off costs related to "strategic initiatives". Overall, the reported figures were slightly below our estimates. That said, we deem the growth, which primarily originated from variable revenues, to be encouraging.
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