Q1 2025 Techstep ASA Earnings Call Transcript
Key Points
- Techstep ASA (OSL:TECH) reported a 10th consecutive quarter of positive adjusted EBITDA, showcasing consistent financial performance.
- Recurring revenue offerings grew by 7% year over year, with the company's own software contributing an 11% increase.
- The company successfully signed two new strategic partnerships, expanding its market reach in Ireland, the UK, and with a Nordic telecom operator.
- Techstep ASA's Essentials MDM software product showed significant growth, particularly in the Polish market, contributing to the company's overall software revenue increase.
- The company achieved positive cash flow from operations for the first time in several years, indicating improved financial health and cash management.
- Total revenues in the first quarter decreased by 3% to 249 million, reflecting challenges in maintaining top-line growth.
- Device revenues decreased by 5% compared to the previous year, partly due to the expiration of a low-margin public sector agreement.
- Net loss for the quarter was 16.4 million, impacted by amortization of intangible assets from previous M&As.
- The Norwegian market experienced a 7% decline in total revenues, driven by the exit from an unprofitable iPad frame agreement.
- Transactional revenues, including third-party software and consulting, came in slightly lower than the previous year, indicating potential challenges in these areas.
Good morning everyone, and welcome to our Q1 presentation today, followed by a Q&A session.
It's a beautiful sunny Friday morning and we can feel the good vibes and heat it building up here at Techstep today. So let's get started.
I'm here with our CFO Ellen, and we have been looking forward to sharing more insight with you about our progress, improvements, results, achievements last quarter, and the strong momentum we see across markets.
It's already more than 15 months since I got the opportunity to lead Tech Step, and it has been a great ride so far.
As we reflect on the first quarter of 2025, which also marks the first full year for me as CEO, I'm pleased to report that TechStep has maintained and accelerated its positive commercial and financial momentum from 2024.
We continue to develop and optimize our organization as well as tuning our strategic direction including go to market model, key priorities and positioning of our different business areas for growth and scalability.
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