Sales -7% vs. ABGSCe at SEK 32m
EBITDA better than expected (SEK -0.6m vs. -1.2m)
Limited consensus sales estimate revisions
Q1'25 report
Skolon delivered net sales of SEK 32m (-7% vs ABGSCe 35m), corresponding to y-o-y organic growth of 37% (-11pp vs ABGSCe 47%). The gross margin decreased to 34% (-6pp vs ABGSCe 40%). The ARPPU-driven growth and lower GM alludes to an increased usage of partner tools. We keep in mind that Q1 is a seasonally soft quarter for volume growth. EBITDA amounted to SEK -1m (1m vs ABGSCe -1m), ARPPU came in at SEK 173 (1% vs ABGSCe 171), as the number of paying users amounted to SEK 877k (-2% vs ABGSCe 897k). The sales deviation is minor (SEK 2m), and it can be impacted, and explained, by the timing of new contracts on a quarterly basis.