Full Year 2025 Carasent AB (publ) Earnings Call Transcript

Feb 12, 2026 / 07:00 AM GMT

Release Date Price: $0.15

Transcript

Key Points

Positve

Carasent AB (publ) (FRA:E0C) reported a strong quarter with a 15% organic ARR growth and a 16% reported organic growth.
The company achieved a significant improvement in profitability, with an EBITDA margin of 25% and an EBIT margin of 16%, up from 5% last year.
Carasent AB (publ) (FRA:E0C) has a high percentage of recurring revenues, over 90%, with a net revenue retention rate of 110%.
The successful implementation of Volvat in Norway, which involved transferring over 5 million medical records, contributed to high consultancy revenue.
The company is investing in AI to enhance product development and improve productivity, aiming to add more AI functionality to their products.

Negative

The growth in Germany is expected to be low this year due to the slow rollout of new products from a small base.
The company faces challenges in convincing healthcare providers to switch from legacy systems, which are deeply integrated and difficult to replace.
There is a high churn rate due to non-voluntary churns such as bankruptcies, although it has normalized in the latter half of 2025.
The adoption of AI tools among customers is slow, with less than 10% currently using AI functionalities.
The company experienced a weak working capital development in 2025 due to delayed payments from a large customer and high consulting revenues occurring late in the year.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CARAS.ST - Carasent AB (publ)
Full Year 2025 Carasent AB (publ) Earnings Call
Feb 12, 2026 / 07:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to our presentation of the 4th quarter 2025. I will start with a business update and today a little bit extra about AI again, and then Sir Martin will give a financial update.

And as most of we're providing EHR systems for healthcare providers. We're growing quite rapidly at 15%. We're more than 90% recurring revenues and a net revenue retention of 110%.

Looking a bit at the quarter.

We have a strong quarter with high activity, especially given that we have taken almost all of Volvat, so that's cap Norway online.

That's something we're really proud of. It's more than 5 million medical records have been transferred from multiple old systems into our system. So I think,

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