Q4 2025 Nepa AB Earnings Call Transcript

Feb 20, 2026 / 10:00 AM GMT

Release Date Price: kr19.6 (+18.79%)

Transcript

Key Points

Positve

Nepa AB (OSTO:NEPA) reported a strong growth in sales bookings, with a 21% year-over-year increase.
The company achieved its highest adjusted EBITDA margin of 11.1% since Q4 2021, indicating successful strategic implementation.
Subscription revenue is growing, driven by the ARR business, which is a key focus for sustainable growth.
The company has successfully transformed its business model, focusing on recurring revenue and reducing legacy churn.
Nepa AB (OSTO:NEPA) has improved its gross margin by 3.5 percentage points year over year, reflecting more efficient workflows and better integration of global resources.

Negative

Reported net sales declined by 15% due to extraordinary churn and phase-out of low-margin contracts.
Underlying net sales were essentially flat, indicating challenges in achieving growth beyond subscription services.
Ad hoc revenue from non-subscription clients declined by 20.6%, reflecting a strategic focus on core subscription customers.
The company decided not to propose a dividend for 2025, which may disappoint some investors.
There is ongoing impact from discontinued contracts, which will affect comparable growth figures until Q2 2026.

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

NEPA.ST - Nepa AB
Q4 2025 Nepa AB Earnings Call
Feb 20, 2026 / 10:00AM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to Nepa Q4 2025 report presentation. For the first part of the presentation, participants will be in listen-only mode. During the questions and answers, session, participants are able to ask questions by dialing pound 5 on their telephone keypad. If you are listening to the presentation via webcast, you can ask written questions using the form below. Now I will hand the conference over to CEO Anders Dahl. Please go ahead.

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Unidentified_2 [2]
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Good morning and welcome to NEPA's year-end report 2025. I am Anders Dahal, the CEO of NEA, and I will give you a short introduction

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