Q1 2025 Invisio AB Earnings Call Transcript
Key Points
- Invisio AB (STU:ICQ) reported its highest Q1 revenue ever, approximately 10% higher than the same quarter last year.
- The company maintains a strong order book of almost SEK750 million, with the majority expected to be delivered in the next two quarters.
- Invisio AB (STU:ICQ) has a stable gross margin averaging over 60%, supported by newly developed products.
- The acquisition of UltraLYNX is expected to expand Invisio AB (STU:ICQ)'s value proposition and contribute to revenues in the second half of 2025.
- The company is well-prepared for potential tariff impacts with operational plans, including preparations for manufacturing in the US.
- Order intake for Q1 was lower compared to the previous year, partly due to a large order in Q1 2024.
- Gross margins were slightly lower this quarter due to deliveries made through third-party system integrators.
- Operating expenses increased due to investments in product development and the acquisition of UltraLYNX.
- The operating margin was lower than last year due to lower gross margins and higher operating expenses.
- There is uncertainty regarding the impact of national defense budgets on revenues, with significant effects expected only from the second half of 2025.
Welcome to Invisio's presentation of the Interim Report January to March 2025. (Operator Instructions)
Now I will hand the conference over to the CEO, Lars Hojgard Hansen. Please go ahead.
you very much, and welcome to our Q1 presentation that we have chosen to title position for an Eventful 2025. And indeed, we do expect a very interesting and busy 2025. As you might recall, we come from a very strong fourth quarter in '24 and indeed a full year '24, where we grew our revenue with 46%. And in the late part of quarter four, we had a delivery and order intake of a large order of SEK115 million that we managed to deliver before the end of the year. Normally, that would have been played into Q1 and be part of the revenues in Q1.
But as we always deliver according to customer wishes, we managed to do that in Q4. And this is reflecting the normal order and revenue volatility that we see in defense markets. We will go into the different details of the numbers slide-by-slide.
And of course,
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