PixelFox AB (publ): Quarterly Report Four 2025
ORIGINAL REPORT WAS PUBLISHED IN SWEDISH ON 2026-02-26
Financials
| Multi-Year Overview - Group | Q4 2025 | Q4 2024 | 2025 | 2024 |
| Net Revenue (MSEK) | 36,2 | 12,2 | 86,8 | 47,0 |
| EBITDA (MSEK) | 1,4 | 0,9 | 5,1 | 3,1 |
| Profit After Financial Items (MSEK) | 0,4 | 0,3 | 12,9 | 0,5 |
| Total Assets (MSEK) | 24,4 | 11,7 | 24,4 | 11,7 |
| Equity Ratio (%) | 91,4% | 68,0% | 91,4% | 68,0% |
| Earnings Per Share (SEK) | 0,01 | 0,01 | 0,35 | 0,02 |
| Multi-Year Overview - Parent Company | Q4 2025 | Q4 2024 | 2025 | 2024 |
| Net Revenue (MSEK) | 1,3 | 0,2 | 3,4 | 0,2 |
| EBITDA (MSEK) | 0,4 | −0,2 | 1,0 | −0,9 |
| Profit After Financial Items (MSEK) | 5,7 | −0,2 | 6,2 | −1,0 |
| Total Assets (MSEK) | 26,8 | 17,3 | 26,8 | 17,3 |
| Equity Ratio (%) | 96,5% | 81,4% | 96,5% | 81,4% |
| Earnings Per Share (SEK) | 0,27 | 0,10 | 0,28 | 0,08 |
CEO's Statement
The fourth quarter concludes an intensive and eventful year for PixelFox, during which we have continued to strengthen the company both operationally and strategically. Throughout 2025, we have worked purposefully to develop the business, drive growth and create the conditions for long-term value creation. Q4 was a strong finish to the year and confirms the direction we have been working toward.
During the year, we also completed a transaction that clearly demonstrates PixelFox's way of working in practice: we acquired Userdesk, further developed the platform within the group, and subsequently divested the business to Servana AB for SEK 19 million. The upcoming distribution of shares in Servana AB is a tangible example of how we create, realize and distribute value to our shareholders. It is also the type of process that aligns with our strategy, and one we intend to continue pursuing when the right opportunities arise.
Operationally, we have continued to develop the business with a focus on sales, efficiency and scalability. During the quarter, we have also worked on proprietary products that we intend to present and launch shortly, as part of our ambition to build more scalable assets and platforms with long-term potential.
During 2025, the Group's net sales amounted to 86.8 million SEK (47.0 msek) compared with 2024, an increase of approximately 84%. Profit for the year amounted to 12.9 million SEK (0.5 msek).
It is also encouraging to see that the development has continued into Q1, where we are seeing continued momentum in the business, while the focus remains on strengthening gross margin and maintaining continued growth. We are working with clear capital discipline and a balance between growth investments and financial stability, and we enter the year with a debt-free balance sheet, which gives us a strong financial starting point.
The quarterly outcome reflects the development we have seen gradually over the year, with increased sales and continued focus on a more efficient and scalable business. Overall, we see a year in which we have both strengthened the operational foundation and improved our prospects going forward.
Outlook
Going forward, our focus is to continue developing the businesses and assets where we see the greatest potential, with continued discipline in capital allocation and execution. We will also evaluate strategic opportunities that can strengthen the structure and contribute to long-term shareholder value. The experience from the Userdesk transaction reinforces our conviction in the model we are working with, and our ambition over time is to carry out more similar value-creating investments.
Significant events during the period 2025
- PixelFox divests its wholly owned subsidiary and its AI service Userdesk to Medimi AB for SEK 19 million
- PixelFox completes the acquisition of Smart Upsell AI
- PixelFox's capital strategy: investing excess liquidity in cryptocurrencies and digital assets
- PixelFox AB has repaid all long-term interest-bearing debt
Significant events after the period 2025
- EGM approved the distribution of approximately 2 billion shares in Servana AB to PixelFox's shareholders
For further information, please contact:
Robin Bäcklund
Chief Executive Officer
PixelFox AB (publ)
ir@wearepixelfox.com
PixelFox AB (publ)
The business idea of PixelFox AB (publ) is to operate, develop, and acquire services and companies within e-commerce, SaaS, retail, and industry, and the company's vision is to become a leading player in their respective niches.