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Formpipe Software Interim / Quarterly Report 2026
3159_10-q_2026-04-29_c28191dd-12ca-44ff-ad2c-f85a582ec371.pdf
Interim / Quarterly Report
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Q1 2026
Results for the first quarter of 2026
Formpipe Software AB
1 January – 31 March 2026
| 2026 | 2025 | |
|---|---|---|
| Net sales | 61 Mkr | (61 Mkr) |
| Recurring revenue | 55 Mkr | (54 Mkr) |
| Organic growth in recurring revenue | 11% | (10%) |
| Net ACV | 6 Mkr | (8 Mkr) |
| ARR | 228 Mkr | (214 Mkr) |
| Adjusted EBIT | 12 Mkr | (1 Mkr) |
| Adjusted EBIT margin | 19% | (1%) |
| EBIT | 12 Mkr | (-5 Mkr) |
| EBIT margin | 19% | (-9%) |
| Profit after tax | 7 Mkr | (-12 Mkr) |
| Profit margin | 11% | (-20%) |
| Earnings per share before dilution | 0,12 kr | (-0,22 kr) |
| Cash flow from operating activities | 4 Mkr | (1 Mkr) |
> The improved profitability gives us the foundation for future growth.
> - Sophie Reinius acting CEO
Organic growth in recurring revenue 11% (10%)
ACV 6 MSEK (8 MSEK)
ARR 228 MSEK (214 MSEK)
EBIT-adj
19% (1%)
Income statement summary
| (SEK Million) | Jan-Mar | |
|---|---|---|
| 2026 | 2025 | |
| Net Sales | 60,9 | 60,8 |
| whereof recurring revenue | 55,3 | 53,7 |
| EBITDA | 15,8 | 6,1 |
| Margin, % | 26,0% | 10,0% |
| EBIT - excluding items affecting comparability | 11,6 | 0,5 |
| Margin, % | 19,1% | 0,9% |
| EBIT | 11,6 | -5,2 |
| Margin, % | 19,1% | -8,5% |
This is a translation of the official Swedish version. In the event of any discrepancies between the two versions, the Swedish version shall take precedence. The information was submitted for publication at 08:15 CET on April 29, 2026.
Lasernet Group
Comments from the CEO
Strong margins and a sharper market focus
The first quarter of 2026 marks the beginning of a new chapter for the Lasernet Group. The organizational changes and restructuring carried out during 2025 are now completed, and the effects are clear: the cost base is right-sized, go-to-market efforts are focused, and the organization is aligned around one product portfolio and a common goal.
Net sales for the period were unchanged and amounted to SEK 61 million (SEK 61 million). Revenue was negatively impacted by currency effects of SEK 6 million as well as a reduction in delivery activities, performed by our partners. Recurring revenue amounted to SEK 55 million (SEK 54 million), with organic growth of 11 percent (10 percent). Adjusted EBIT amounted to SEK 12 million (SEK 1 million), with an adjusted EBIT margin of 19 percent (1 percent). The quarter had no items affecting comparability.
Strengthened commercial focus
ACV, the annual value of new contracts signed during the period, is our most important growth metric. In the first quarter, net ACV amounted to SEK 6 million (SEK 8 million). During the quarter, we signed 18 new customer agreements across a broad range of industries and geographies. New customers during the quarter included Kongsberg Defence & Aerospace in Norway, Harvia Group in Finland, and Prudential Assurance Company in Singapore. In addition, agreements were signed with several manufacturing and distribution companies in the Netherlands, Germany, Sweden, the United Kingdom, and the United States. This breadth across industries, business systems, and geographies underlines the demand for Lasernet's solutions and strengthens our confidence in the long-term growth potential.
A clear focus and a new name
During the quarter, the rebranding from Formpipe to Lasernet was completed. The new identity clarifies
the company's strategic direction and places the document at the centre of the offering. With 30 years of experience in document and output management, the profile builds on the trust established with customers and partners over time.
We continued to invest in go-to-market activities in line with the strategy communicated at the end of 2025. For the third time in five years, the Lasernet team received Temenos' Exchange Partner of the Year award at the Temenos Kick Off in Dallas, Texas. Our Dynamics team also participated in the Executive Summit in San Diego, California, as well as HSO Partner Days in the United Kingdom.
The Dynamics channel continues to be the primary source of new business, with strong activity driven by Microsoft's continued expansion within ERP. In February, Lasernet also signed a new partner agreement with IFS. Within Banking, there continues to be limited business via Temenos.
Outlook
Our objective for 2026 is to continue growing ACV while the improved profitability established at the end of 2025 gives us the foundation for future growth. With the restructuring in place, a clear product focus, and well-established partnerships, we have the right foundation.
I would like to extend my sincere thanks to our customers, partners, and employees for their continued trust and commitment.
Sophie Reinius, Acting CEO & CFO
2
Lasernet Group
Financial information
Revenue
January–March 2026
Net sales for the period were unchanged at 0% compared with the previous year and amounted to SEK 60.9 million (SEK 60.8 million). Software revenue increased by 3% compared with the previous year and amounted to SEK 56.8 million (SEK 54.7 million).
Total recurring revenue for the period increased by 3% (10%) compared with the previous year and amounted to SEK 55.3 million (SEK 53.7 million), corresponding to 91% of net sales (88%). Exchange rate effects impacted net sales negatively by SEK 5.9 million compared with the previous year.
Revenue breakdown, January–March 2026
Recurring revenue, rolling 12 months, SEK million
ARR, SEK million
Costs
January–March 2026
Operating costs for the period amounted to SEK 49.5 million (SEK 60.7 million). Personnel costs amounted to SEK 21.6 million (SEK 30.1 million). Selling expenses amounted to SEK 12.8 million (SEK 14.1 million). Other expenses amounted to SEK 13.1 million (SEK 14.4 million). Items affecting comparability amounted to SEK 0 million (SEK 5.7 million). Exchange rate effects reduced costs by SEK 5.6 million compared with the previous year.
3
Lasernet Group
Financial information
Recurring revenue in relation to fixed operating costs, rolling 12 months, SEK million
Net sales and adjusted EBIT margin, SEK million
Earnings
January–March 2026
Operating profit before depreciation and items affecting comparability (EBITDA) amounted to SEK 15.8 million (SEK 6.1 million), with an EBITDA margin of 26.0% (9.9%). Operating profit excluding items affecting comparability (EBIT-adj) amounted to SEK 11.6 million (SEK 0.5 million), with an adjusted operating margin of 19.1% (0.9%). Operating profit (EBIT) amounted to SEK 11.6 million (SEK -5.2 million), with an operating margin of 19.1% (-8.5%). Profit after tax amounted to SEK 6.5 million (SEK -12.2 million). Exchange rate effects impacted EBIT negatively by SEK 0.2 million compared with the previous year.
Financial position and liquidity
Cash and cash equivalents
The Group's total cash amounted to SEK 39.7 million (SEK 51.2 million) at the end of the period. The Group's total overdraft facility amounts to SEK 75.0 million. At the end of the period, this facility was unused (SEK 0 million). The Group's total available liquidity therefore amounted to SEK 114.7 million (SEK 101.2 million).
The Group's short-term investments amounted to SEK 776.5 million (SEK 0 million) at the end of the period, consisting of interest-bearing short-term funds.
At the end of the period, the Group had interest-bearing liabilities of SEK 1.5 million (SEK 10.3 million), of which SEK 1.5 million (SEK 10.3 million) relates to lease liabilities under IFRS 16.
The Group's net cash therefore amounted to SEK 38.3 million (SEK 30.9 million),
4
Lasernet Group
Financial information
corresponding to net cash of SEK 39.7 million (SEK 41.2 million) excluding IFRS 16-related liabilities.
Deferred tax asset
The Group's deferred tax asset attributable to accumulated tax losses carry forward amounted to SEK 0.4 million (SEK 2.3 million) at the end of the period.
Equity
The Group's equity amounted to SEK 869.8 million (SEK 469.5 million) at the end of the period, corresponding to SEK 16.14 (SEK 8.65) per outstanding share at the end of the period. Changes in the value of the Swedish krona compared with other currencies changed the value of the Group's net assets in foreign currency by SEK 1.9 million (SEK -22.1 million) since year-end.
Equity ratio
The equity ratio amounted to 82% (58%) at the end of the period.
Share buyback
The Annual General Meeting on 29 April 2025 authorized the Board of Directors to acquire up to 10 percent of the company's shares until the next Annual General Meeting. As of 31 March 2026, 355,200 shares have been acquired under this authorization.
Cash flow
Cash flow from operating activities
Cash flow from operating activities amounted to SEK 4.2 million (SEK 0.9 million) for the period January-March.
Investments and acquisitions
Cash flow from investments in the period January-March amounted to SEK 2.6 million (SEK 3.3 million).
Investments in intangible non-current assets amounted to SEK 2.2 million (SEK 3.5 million) and mainly relate to capitalized product development costs.
Investments in tangible and financial non-current assets amounted to SEK 0.3 million (SEK 0.1 million).
Financing
During the period January-March, the company amortized SEK 0 million (SEK 2.5 million).
The Group's existing overdraft facility totalling SEK 75.0 million was unused (SEK 0 million) at the end of the period. Lease-related liabilities amounted to SEK 1.5 million (SEK 10.3 million) at the end of the period. The Group's total interest-bearing debt amounted to SEK 0 million (SEK 20.3 million) at the end of the period.
5
Lasernet Group
About Lasernet
Lasernet Group
For more than 30 years, Lasernet has been a trusted partner for companies worldwide in solving universal document challenges, thanks to its ability to operate in IT environments independent of underlying business systems. Large international companies use the Lasernet platform to extract information from business systems such as Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Product Lifecycle Management (PLM), or various banking systems, and use this data to design and deliver documents to their end customers. Data and information are increasingly becoming the lifeblood of economic development: they are the foundation for many new products and services, leading to productivity and efficiency gains across all sectors of the economy. Being able to seize the opportunities of digitalization has become one of the most important issues of our time. The benefits of being able to collect, verify, process, and present data are extensive.
The product Lasernet
The Lasernet platform was developed to help customers extract information from their business systems and print it as documents. "Laser" refers to the laser printer networks we previously provided services for, and "net" describes the network of hardware, software, and people that together make up the process. As experts in helping customers bring information out of digital networks into physical printouts, we saw this as a common challenge for many companies. The Lasernet product was therefore developed, with the name describing the solution, the service, and the experience of being able to extract information from a system and present it in the desired format. In line with our customers' needs, Lasernet has evolved to deliver valuable solutions that make it possible to share information through both physical and digital channels in the form of documents and communications. The Lasernet platform is an end-to-end document management solution that enables customers to generate, design, distribute, archive, and retrieve documents within their existing IT ecosystem.
The platform has built-in editing and design tools that make it possible to create finished, brand-compliant documents with account-specific information directly from existing ERP, CRM, banking core systems, or other business systems. The created documents can then be stored in the Lasernet archive, enabling storage and access at a fraction of the cost of traditional data storage.
Segments
- The Dynamics 365 segment – customers use Lasernet to manage purchase orders, labels, delivery documents, and compliance-related certificates.
- Banking and finance – customers rely on our capacity to handle large volumes to create personalized statements, securely store customer data, manage document flows, and support regulatory reporting.
- ERP platforms such as Oracle, SAP, IFS, and Infor – growing needs for e-invoicing, regulatory documentation, and cloud-ready reporting tools create additional demand, especially as companies move away from traditional on-premises document solutions.
Other products (non-core)
- X-Docs is designed to reflect how quality teams actually work—secure, compliant, and genuinely useful. It helps you save time on routine administration so your team can focus on what really matters: driving continuous improvement and staying ahead of regulatory changes.
- Email Filing is an Outlook add-in from Lasernet that integrates with eDocs (from NetDocuments). It makes it possible to save and archive emails and attachments in a structured way as documents in eDocs.
6
Lasernet Group
Significant events
January-March
Share buyback program
Lasernet Group initiated a share buyback program at the end of February 2026.
The Board proposes voluntary redemption and a name change
The Board of Directors proposes that the Annual General Meeting on 29 April 2026 resolves on a voluntary redemption program, in the form of an offer to all shareholders for voluntary redemption of shares. The proposal is submitted as the Company in 2025 completed the divestment of the Public Sector business area, which has resulted in a significant strengthening of the Company's liquidity and financial position. In light of the completed transaction, the Board considers that the Company's capital structure is not optimally balanced in relation to the Company's operations and future needs. The Board believes that a return of capital to shareholders is justified and that a redemption procedure is more advantageous for shareholders than a dividend.
The Board also proposes that the Annual General Meeting on 29 April 2026 resolves to change the company name from Formpipe Software AB to Lasernet Group AB.
After the end of the period
Nothing to report
7
Lasernet Group
Other
Employees
At the end of the reporting period, the number of employees amounted to 79 people (102 people).
Risks and uncertainties
The Group's and the Parent Company's material risk and uncertainty factors, including business and financial risks, are described in the annual report for the most recent financial year. No other material changes in the Group's and the Parent Company's risk and uncertainty factors have occurred during the period.
Related party transactions
No material related party transactions occurred during the period.
Accounting policies
The Group's financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union, the Swedish Annual Accounts Act, RFR 1 Supplementary Accounting Rules for Groups issued by the Swedish Financial Reporting Board, and in accordance with the rules applied by the Stockholm Stock Exchange to companies listed on Nasdaq Stockholm. Preparing financial statements in accordance with IFRS requires management to make accounting judgments and estimates and to make assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, and expenses. Actual outcomes may differ from these estimates and judgments. This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting and the Swedish Annual Accounts Act. The interim report comprises pages 1–23 and the interim information on pages 1–8 therefore constitutes an integral part of these financial statements. The most significant accounting policies under IFRS, which form the basis for preparing this interim report, are presented in the Company's most recently published annual report.
The Parent Company's financial statements are prepared in accordance with the Swedish Annual Accounts Act and RFR 2 Accounting for Legal Entities, issued by the Swedish Financial Reporting Board. The same accounting policies and calculation methods have been applied in the interim report as in the most recent annual report.
Accounting for discontinued operations
From the third quarter of 2025, Formpipe classifies the Public Sector financial reporting as discontinued operations, meaning that assets and related liabilities attributable to Public are presented on separate lines in the balance sheet and that profit after tax for the period from discontinued operations is presented on a separate line in the income statement. Internal balances and transactions between continuing operations and discontinued operations have been eliminated.
The income statement and cash flow statement are restated for comparative periods as if the discontinued operations had already been classified as discontinued operations at the beginning of the comparative periods.
About Formpipe/Lasernet
Formpipe (to be Lasernet Group) is a Swedish software company within Customer Communications Management (CCM). Thousands of customers in more than 60 countries trust us and our services today. Our market-leading position gives us clear competitive advantages in the development and sale of software for efficient and valuable information services. The focus is on products for managing customer communications.
Formpipe was established in 2004 and has offices in Sweden, Denmark, the United Kingdom, the United States, Germany, and France. Formpipe Software AB (publ) is listed on Nasdaq Stockholm.
Financial information calendar
29 april 2026 Annual General Meeting
15 juli 2026 Interim report Jan–Jun
23 oktober 2026 Interim report Jan–Sep
The interim report is available on Formpipe's website, https://ir.formpipe.com/
Financial information
Can be ordered using the contact details below. All financial information is published on https://ir.formpipe.com/ immediately after publication.
Contact information
Sophie Reinius, Acting Chief Executive Officer
Phone: +46 73 408 2877
Email: [email protected]
Stockholm, 29 April 2026
Formpipe Software AB (publ)
The Board of Directors and the Chief Executive Officer
Formpipe Software AB (publ) | Corporate reg. no.: 556668-6605
Sveavägen 168 | Box 231 31 | 104 35 Stockholm
T: 08-555 290 60 | F: 08-555 290 99
[email protected] | www.lasernetgroup.com
8
Lasernet Group
Financial tables
January by JANUP
Group income statement
| Jan-Mar | ||
|---|---|---|
| (SEK 000) | 2026 | 2025 |
| Net Sales | 60 909 | 60 822 |
| Other operating income | 158 | 356 |
| Total income | 61 067 | 61 177 |
| Sales expenses | -12 759 | -14 103 |
| Other costs | -13 128 | -14 431 |
| Personnel costs | -21 642 | -30 059 |
| Capitalized work for own account | 2 304 | 3 484 |
| Operating profit/loss before depreciation/amortization and non-comparative items (EBITDA) | 15 842 | 6 068 |
| Depreciation/amortization | -4 225 | -5 549 |
| Operating profit/loss (EBIT) | 11 617 | -5 216 |
| Financial income and expenses | -375 | -169 |
| Exchange rate differences | -891 | -5 809 |
| Tax | -3 816 | -985 |
| - | ||
| Net profit for the period, continued business | 6 535 | -12 178 |
| Net profit for the period, divested business | - | 17 266 |
| Net profit for the period, total business | 6 535 | 5 088 |
| Of which the following relates to: | ||
| Parent company shareholders | 6 535 | 5 088 |
| Other comprehensive income | ||
| Translation differences | 1 886 | -22 089 |
| Other comprehensive income for the period, net after tax | 1 886 | -22 089 |
| Total comprehensive income for the period | 8 420 | -17 002 |
| Of which the following relates to: | ||
| Parent company shareholders | 8 420 | -17 002 |
| EBITDA margin, % | 26,0% | 9,9% |
| EBIT margin, % | 19,1% | -8,5% |
| Profit margin, % | 10,7% | -19,9% |
| Earnings per share attributable to the parent company's shareholders during the period (SEK per share) | ||
| - before dilution | 0,12 | -0,22 |
| - after dilution | 0,12 | -0,22 |
| Average no. of shares before dilution, in 000 | 54 182 | 54 258 |
| Average no. of shares after dilution, in 000 | 54 182 | 54 258 |
9
Lasernet Group
Financial tables
January to June 30, 2025
Group balance sheet
The Group balance sheet for Q1 2025 includes discontinued operations.
| (SEK 000) | 31 Mar | 31 dec | |
|---|---|---|---|
| 2026 | 2025 | 2025 | |
| ASSETS | |||
| Non-current assets | |||
| Intangible assets | |||
| Capitalized expenditure | 41 643 | 167 360 | 42 345 |
| Goodwill | 106 409 | 439 961 | 104 826 |
| Other intangible assets | 781 | 3 943 | 1 095 |
| Intangible assets | 148 833 | 611 265 | 148 266 |
| Tangible assets | |||
| Other equipment & furnitures | 3 305 | 17 013 | 3 262 |
| Tangible assets | 3 305 | 17 013 | 3 262 |
| Financial assets | |||
| Other financial assets | 33 373 | 1 746 | 33 469 |
| Financial assets | 33 373 | 1 746 | 33 469 |
| Non-current receivables | |||
| Deferred tax assets | 414 | 2 263 | 401 |
| Non-current receivables | 414 | 2 263 | 401 |
| Non-current assets | 185 925 | 632 287 | 185 398 |
| Current assets (excl. cash equivalents) | |||
| Current receivables | |||
| Trade receivables | 38 498 | 89 848 | 41 451 |
| Current tax assets | 227 | 7 948 | 2 743 |
| Other receivables | 789 | -1 | 249 |
| Prepaid costs and accrued income | 14 039 | 32 936 | 14 291 |
| Short-term investments | 776 527 | - | 801 527 |
| Current assets (excl. cash equivalents) | 830 081 | 130 732 | 860 259 |
| Cash equivalents | 39 747 | 51 171 | 19 817 |
| TOTAL ASSETS | 1 055 753 | 814 189 | 1 065 475 |
10
Lasernet Group
Financial tables
January to June
0
Group balance sheet – continued
| (SEK 000) | 31 Mar | 31 dec | |
|---|---|---|---|
| 2026 | 2025 | 2025 | |
| EQUITY | |||
| Share capital | 5 426 | 5 426 | 5 426 |
| Other paid-in capital | 230 325 | 230 325 | 230 325 |
| Revaluation reserves | -17 710 | 43 213 | -19 596 |
| Retained earnings including profit for the year | 651 711 | 190 543 | 653 963 |
| Equity | 869 752 | 469 506 | 870 118 |
| LIABILITIES | |||
| Deferred tax liabilities | 5 554 | 39 233 | 5 838 |
| Non-current leasing liabilities | 1 315 | 4 869 | 1 394 |
| Non-current liabilities | 6 869 | 44 102 | 7 233 |
| Current liabilities | |||
| Liabilities to credit institutions | - | 10 000 | - |
| Current leasing liabilities | 174 | 5 433 | 380 |
| Trade liabilities | 11 025 | 24 260 | 14 907 |
| Current tax liabilities | 6 997 | 1 226 | 5 258 |
| Other liabilities | 9 557 | 11 192 | 14 819 |
| Accrued expenses and deferred income | 151 465 | 248 469 | 152 760 |
| Current liabilities | 179 218 | 300 581 | 188 124 |
| Liabilities | 186 087 | 344 683 | 195 357 |
| TOTAL EQUITY AND LIABILITIES | 1 055 753 | 814 189 | 1 065 475 |
| Net interest-bearing debt (-) / cash (+) | 38 258 | 30 869 | 18 043 |
11
Lasernet Group
Financial tables
January 1
January 2
January 3
January 4
January 5
January 6
January 7
January 8
January 9
Changes in equity in the Group
| (SEK 000) | Equity attributable to the parent company's shareholders | ||||
|---|---|---|---|---|---|
| Share capital | Other contributed capital | Other reserves | Profit/loss brought forward | Total | |
| Balance at January 1, 2023 | 5 426 | 230 325 | 65 302 | 185 117 | 486 170 |
| Comprehensive income | |||||
| Net profit for the period | - | - | - | 495 069 | 495 069 |
| Other comprehensive income items | - | - | -84 898 | - | -84 898 |
| Total comprehensive income | - | - | -84 898 | 495 069 | 410 171 |
| Transaction with owners | |||||
| Dividend | - | - | - | -27 130 | -27 130 |
| Share issue | 4 | - | - | - | - |
| Total transaction with owners | - | - | - | -26 223 | -26 223 |
| Balance at December 31, 2024 | 5 426 | 230 325 | -19 596 | 653 963 | 870 118 |
| Balance at January 1, 2025 | 5 426 | 230 325 | -19 596 | 653 963 | 870 118 |
| Comprehensive income | |||||
| Net profit for the period | - | - | - | 6 336 | 6 336 |
| Other comprehensive income items | - | - | 1 886 | - | 1 886 |
| Total comprehensive income | - | - | 1 886 | 6 336 | 8 221 |
| Transaction with owners | |||||
| Incentive program regulated by equity instruments | - | - | - | -174 | -174 |
| Other result | - | - | - | -469 | -469 |
| Repurchase own shares | - | - | - | -8 230 | -8 230 |
| Total transaction with owners | - | - | - | -8 873 | -8 873 |
| Balance at December 31, 2025 | 5 426 | 230 325 | -17 710 | 651 425 | 869 752 |
12
Lasernet Group
Financial tables
January to June 2026
January to June 2026
Cash flow statement
| (SEK 000) | Jan-Mar | |
|---|---|---|
| 2026 | 2025 | |
| Cash flow from operating activities | ||
| Operating profit/loss (EBIT) | 11 617 | -5 216 |
| Items not affecting cash flow | - | |
| - Depreciation | 4 225 | 5 549 |
| - Other items | -278 | 27 |
| Other items affecting liquidity | - | |
| Interest revenue | 82 | 268 |
| Interest expense | -504 | -369 |
| Realized currency effects | -1 256 | 3 685 |
| Income tax paid (-) / reimbursed (+) | -2 519 | -1 612 |
| Cash flow from operating activities before working capital changes | 11 367 | 2 332 |
| Increase (-) / decrease (+) trade receivables | 3 455 | 2 871 |
| Increase (-) / decrease (+) other current receivables | 2 464 | -510 |
| Increase (+) / decrease (-) trade payables | -4 256 | 42 |
| Increase (+) / decrease (-) current liabilities | -8 864 | -3 829 |
| Cash flow from changes in working capital | -7 201 | -1 426 |
| Cash flow from operating activities | 4 166 | 906 |
| Cash flow from operating activities for divested business | - | 27 716 |
| Cash flow from operating activities for total business | - | 28 621 |
| Cash flow from investing activities | ||
| Investment in intangible assets | -2 246 | -3 484 |
| Investment in tangible assets | -426 | -62 |
| Investment in financial assets | 102 | 209 |
| Cash flow from investing activities | -2 569 | -3 337 |
| Cash flow from investing activities for divested business | - | -9 902 |
| Cash flow from investing activities for total business | - | -13 239 |
| Cash flow from financing activities | ||
| Repayment of loans | - | -2 500 |
| Repayment of leasing liabilities | -315 | -283 |
| Repurchase of own shares | -8 230 | - |
| Cash flow from financing activities | -8 545 | -2 783 |
| Cash flow from financing activities for divested business | - | -1 898 |
| Cash flow from financing activities for total business | -8 545 | -4 681 |
| Cash flow remaining business | -6 948 | -5 215 |
| Cash flow from divested business | - | 15 916 |
| Cash flow from total business | -6 948 | 10 701 |
| Cash flow for the period continued business | -6 948 | -5 215 |
| Currency translation differences for cash | 1 878 | -6 054 |
| Cash and cash equivalent at the beginning of the period | 821 344 | 31 995 |
| Cash and cash equivalent at the end of the period | 816 274 | 20 726 |
13
Lasernet Group
Financial tables
January 19, 2024
8-quarter summary
| (SEK 000) | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|---|---|---|---|---|
| SaaS | 30 900 | 32 296 | 34 507 | 36 133 | 36 474 | 38 515 | 38 939 | 39 988 |
| Support and maintenance | 19 128 | 18 316 | 18 385 | 17 534 | 16 913 | 16 695 | 15 585 | 15 359 |
| Recurring revenue | 50 028 | 50 612 | 52 892 | 53 667 | 53 387 | 55 210 | 54 523 | 55 347 |
| License | 1 225 | 700 | 909 | 1 016 | 632 | 309 | 383 | 802 |
| Software revenues | 51 253 | 51 312 | 53 800 | 54 683 | 54 019 | 55 518 | 54 906 | 56 149 |
| Deliveries | 4 308 | 4 357 | 5 182 | 6 138 | 6 651 | 5 259 | 5 225 | 4 760 |
| Other income | 127 | 81 | 253 | 356 | 218 | 106 | 222 | 158 |
| Total income | 55 688 | 55 749 | 59 236 | 61 177 | 60 888 | 60 883 | 60 353 | 61 067 |
| Sales expenses | -11 616 | -11 076 | -12 605 | -14 103 | -14 227 | -13 557 | -13 016 | -12 759 |
| Other costs | -16 422 | -14 474 | -16 779 | -14 431 | -16 942 | -12 123 | -12 557 | -13 128 |
| Personnel costs | -28 941 | -29 030 | -33 262 | -30 059 | -28 728 | -25 759 | -24 901 | -21 642 |
| Capitalized development costs | 3 596 | 3 479 | 3 501 | 3 484 | 2 914 | 3 361 | 2 813 | 2 304 |
| Total operating expenses | -53 383 | -51 100 | -59 143 | -55 109 | -56 983 | -48 077 | -47 661 | -45 225 |
| EBITDA | 2 305 | 4 649 | 92 | 6 068 | 3 905 | 12 805 | 12 693 | 15 842 |
| % | 4,1% | 8,3% | 0,2% | 9,9% | 6,4% | 21,0% | 21,0% | 26,0% |
| Items affecting comparability | - | -3 016 | - | -5 736 | -10 271 | -3 914 | -43 233 | - |
| Depreciation/amortization | -5 670 | -5 594 | -5 691 | -5 549 | -5 448 | -5 217 | -4 771 | -4 225 |
| EBIT | -3 364 | -3 961 | -5 599 | -5 216 | -11 815 | 3 674 | -35 311 | 11 617 |
| % | -6,0% | -7,1% | -9,5% | -8,5% | -19,4% | 6,0% | -58,5% | 19,1% |
14
Lasernet Group
Financial tables
January 19, 2017
0
Quarterly sales analysis rolling 12 months
15
Lasernet Group
Financial tables
Segment overview
The segment overview shows the Lasernet business area. Group functions and other Group costs are reported in Other.
| (SEK 000) | Jan-Mar 2026 | ||
|---|---|---|---|
| Lasernet | Other | Group | |
| SaaS | 39 988 | - | 39 988 |
| Support & Maintenance | 15 359 | - | 15 359 |
| Recurring revenue | 55 347 | - | 55 347 |
| License | 802 | - | 802 |
| Software revenue | 56 149 | - | 56 149 |
| Delivery | 4 760 | - | 4 760 |
| Other income | 158 | - | 158 |
| Total income | 61 067 | - | 61 067 |
| Sales expenses | -12 759 | - | -12 759 |
| Other costs | -8 130 | -4 999 | -13 128 |
| Personnel costs | -20 392 | -1 250 | -21 642 |
| Capitalized work for own account | 2 304 | - | 2 304 |
| EBITDA | 22 090 | -6 249 | 15 842 |
| % | 36,2% | - | 26,0% |
| Items affecting comparability | - | - | - |
| Depreciation/amortization | -4 218 | -7 | -4 225 |
| EBIT | 17 872 | -6 355 | 11 617 |
| % | 29,3% | - | 19,1% |
| (SEK 000) | jan-mar 2025 | ||
| --- | --- | --- | --- |
| Lasernet | Other | Koncern | |
| SaaS | 36 133 | - | 36 133 |
| Support & Maintenance | 17 534 | - | 17 534 |
| Recurring revenue | 53 667 | - | 53 667 |
| License | 1 016 | - | 1 016 |
| Software revenue | 54 683 | - | 54 683 |
| Delivery | 6 138 | - | 6 138 |
| Other income | 356 | - | 356 |
| Net sales | 61 177 | - | 61 177 |
| Sales expenses | -14 103 | - | -14 103 |
| Other costs | -11 573 | -2 858 | -14 431 |
| Personnel costs | -26 225 | -3 834 | -30 059 |
| Capitalized work for own account | 3 484 | - | 3 484 |
| EBITDA | 12 760 | -6 691 | 6 068 |
| % | 20,9% | - | 9,9% |
| Items affecting comparability | -4 336 | -1 400 | -5 736 |
| Depreciation/amortization | -5 129 | -420 | -5 549 |
| EBIT | 3 296 | -8 511 | -5 216 |
| % | 5,4% | - | -8,5% |
16
Lasernet Group
Financial tables
ARR and ACV
Banking, Dynamics, and Other ERP are segments within the Lasernet platform. Other products are included in the Non-core segment.
Jan-Mar 2026
| (MSEK) | Dynamics | Banking | Other ERP | Non core | Group |
|---|---|---|---|---|---|
| ARR In - SaaS | 31,7 | 115,4 | 4,4 | 6,5 | 157,9 |
| ARR In - Support & Maint. | 18,4 | 21,7 | 9,5 | 10,5 | 60,1 |
| ARR In - pre FX/acq. | 50,0 | 137,1 | 13,9 | 17,0 | 218,0 |
| ARR - FX SaaS | 0,8 | 1,6 | 0,1 | 0,2 | 2,7 |
| ARR - FX Support & Maint. | 0,4 | 0,2 | 0,1 | 0,2 | 0,9 |
| ARR In - FX | 1,2 | 1,9 | 0,2 | 0,4 | 3,6 |
| ARR In* | 51,2 | 138,9 | 14,1 | 17,4 | 221,6 |
| ACV - SaaS: New | - | 2,3 | - | - | 2,3 |
| ACV - Sup & Maint.: New | - | 0,1 | - | 0,1 | 0,1 |
| ACV - SaaS - Up/Downsell | 0,3 | 4,5 | 1,3 | 0,3 | 6,4 |
| ACV - Sup & UH - Up/Downsell | 0,0 | -0,2 | 0,2 | -0,1 | -0,1 |
| ACV - SaaS - Churn | -1,0 | -0,8 | - | -0,4 | -2,2 |
| ACV - Support & Maintenance | - | -0,3 | -0,0 | -0,3 | -0,6 |
| ACV - Total | -0,7 | 5,5 | 1,4 | -0,4 | 5,9 |
| ARR Out - SaaS | 31,7 | 122,9 | 5,7 | 6,8 | 167,3 |
| ARR Out - Support & Maint. | 18,8 | 21,5 | 9,8 | 10,2 | 60,3 |
| ARR Out | 50,5 | 144,4 | 15,5 | 17,0 | 227,5 |
Jan-Mar 2025
| (MSEK) | Dynamics | Banking | Other ERP | Non core | Group |
|---|---|---|---|---|---|
| ARR In - SaaS | 32,0 | 103,6 | 4,3 | 7,0 | 146,9 |
| ARR In - Support & underhåll | 21,2 | 25,5 | 9,9 | 16,0 | 72,6 |
| ARR In - före FX/acq. | 53,3 | 129,1 | 14,2 | 22,9 | 219,5 |
| ARR - FX SaaS | -2,4 | -6,2 | -0,2 | -0,3 | -9,1 |
| ARR - FX Sup & UH | -1,6 | -1,4 | -0,5 | -0,8 | -4,3 |
| ARR In - FX | -4,0 | -7,5 | -0,8 | -1,1 | -13,4 |
| ARR In | 49,3 | 121,5 | 13,4 | 21,8 | 206,1 |
| ACV - SaaS: Nya kunder | 1,0 | 3,1 | - | - | 4,0 |
| ACV - Sup & UH: Nya kunder | - | - | - | - | - |
| ACV - SaaS - Up/Downsell | 0,3 | 4,4 | 0,2 | 0,1 | 5,0 |
| ACV - Sup & UH - Up/Downsell | 0,0 | 1,3 | 0,1 | 0,0 | 1,5 |
| ACV - SaaS - Churn | - | -1,1 | - | -0,0 | -1,1 |
| ACV - Sup & UH - Churn | - | -0,5 | - | -1,2 | -1,7 |
| ACV - Total | 1,3 | 7,2 | 0,3 | -1,1 | 7,7 |
| ARR Out - SaaS | 30,9 | 103,8 | 4,3 | 6,7 | 145,7 |
| ARR Out - Support & underhåll | 19,7 | 24,9 | 9,5 | 14,0 | 68,1 |
| ARR Out | 50,6 | 128,7 | 13,8 | 20,7 | 213,8 |
17
Lasernet Group
Financial tables
January to June 2026
January 2026
Number of shares
| 2022-01-01 | 2023-01-01 | 2024-01-01 | 2025-01-01 | 2026-01-01 | |
|---|---|---|---|---|---|
| 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | 2026-03-31 | |
| Shares outstanding beginning of the period | 53 463 907 | 53 726 057 | 54 217 825 | 54 217 825 | 54 258 121 |
| Share issue | 0 | 0 | 0 | 40 296 | 0 |
| Share issue from warrant programme | 262 150 | 252 800 | 0 | 0 | 0 |
| 0 | 238 968 | 0 | 0 | 0 | |
| Shares outstanding at the end of the period | 53 726 057 | 54 217 825 | 54 217 825 | 54 258 121 | 54 258 121 |
| Reduced: Own shares | 0 | 0 | 0 | 0 | -355 200 |
| Shares outstanding at the end of the period | 53 726 057 | 54 217 825 | 54 217 825 | 54 258 121 | 53 902 921 |
Group key figures
| Jan-Mar | ||
|---|---|---|
| 2026 | 2025 | |
| Employees at end of period | 79 | 102 |
| Total income, SEK 000 | 61 067 | 61 177 |
| EBITDA, SEK 000 | 15 842 | 6 068 |
| EBIT, SEK 000 | 11 617 | -5 216 |
| Net profit for the period, SEK 000 | 6 535 | -12 178 |
| EBITDA margin, % | 26,0% | 10,0% |
| EBIT margin, % | 19,1% | -8,5% |
| Profit margin, % | 10,7% | -19,9% |
| Return on equity, %* | 74,3% | 4,3% |
| Return on capital employed, %* | 2,0% | 4,3% |
| Equity ratio, % | 82% | 58% |
| Equity per outstanding share at the end of the period, SEK | 16,14 | 8,65 |
| Earnings per share - before dilution, SEK | 0,12 | -0,22 |
| Earnings per share - after dilution, SEK | 0,12 | -0,22 |
| Share price at the end of the period, SEK | 22,70 | 26,10 |
- Ratios including P&L measures are based on the most recent 12-month period
18
Lasernet Group
Financial tables
January to June 2026
January 2026
Parent Company income statement summary
| Jan-Mar | ||
|---|---|---|
| (SEK 000) | 2026 | 2025 |
| Net sales | - | 40 971 |
| Other operating income | 1 | 283 |
| Total income | 1 | 41 254 |
| Operating expenses | ||
| Sales expenses | - | -1 612 |
| Other costs | -5 656 | -19 236 |
| Personnel costs | -1 085 | -24 495 |
| Items affecting comparability | - | -2 457 |
| Depreciation/amortization | -7 | -3 829 |
| Total operating expenses | -6 748 | -51 629 |
| Operating profit/loss | -6 747 | -10 375 |
| Result from participations in group companies | - | - |
| Other financial items | -3 763 | 8 451 |
| Tax | - | -466 |
| Net profit for the period | -10 510 | -2 389 |
Parent Company balance sheet summary
| 31 Mar | 31 dec | ||
|---|---|---|---|
| (SEK 000) | 2026 | 2025 | 2025 |
| Intangible assets | -0 | 21 933 | - |
| Tangible assets | 36 | 2 364 | 44 |
| Financial assets | 216 414 | 345 213 | 216 516 |
| Current assets (excl. cash equivalents) | 808 981 | 67 634 | 834 606 |
| Cash and bank balances | 32 222 | 43 925 | 14 621 |
| TOTAL ASSETS | 1 057 653 | 481 070 | 1 065 787 |
| Restricted equity | 23 117 | 23 117 | 23 117 |
| Non-restricted equity | 857 770 | 219 340 | 882 616 |
| Total equity | 880 887 | 242 457 | 905 733 |
| Long-term liabilities | 5 801 | 388 | |
| Current liabilities | 170 964 | 238 225 | 160 054 |
| TOTAL EQUITY AND LIABILITIES | 1 057 653 | 481 070 | 1 065 787 |
19
Lasernet Group
Financial tables
January to June 2026
2026
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^{}[]
Definitions
Formpipe uses alternative performance measures (APMs). Formpipe's APMs are calculated based on the financial reports prepared in accordance with applicable financial reporting rules and then adjusted by adding to or subtracting from the figures presented in the financial statements. Below, Formpipe's APMs that are not explained in direct connection with the APMs used are presented.
Software revenue
The sum of license revenue, SaaS revenue, and revenue from support and maintenance.
Recurring revenue
Revenue of an annually recurring nature, such as support and maintenance revenue as well as SaaS revenue (Software as a Service).
ARR – Annual Recurring Revenue
Annual run-rate recurring revenue from all contracted agreements at the end of the period. Won agreements that have not yet begun to be recognized as revenue are included. Terminated agreements that are still being recognized as revenue are not included.
ARR IN
Opening ARR value for the period. ARR acquired during the period is included in ARR IN.
ARR IN - FX
Revaluation of ARR IN to the applicable exchange rate at the end of the period.
ACV (Annual Contract Value)
Annual run-rate recurring revenue from contracts won (ACV +) and lost (ACV -) during the period (net).
ARR OUT
Closing ARR value for the period.
Organic growth
The change in net sales compared with the previous year, excluding acquisitions, divestments, and currency effects.
FX effect
Translation of ARR IN to the closing exchange rate.
Fixed operating costs
Other expenses and personnel expenses.
Operating costs
Selling expenses, other expenses, personnel expenses, capitalized work performed for own account, and depreciation.
EBITDA
Operating profit before depreciation, acquisition-related costs, and other items affecting comparability.
Items affecting comparability
The item must be material in nature to be presented separately and is considered outside the ordinary core operations and may impede comparability. Examples include acquisition-related items, restructuring costs, or impairments.
EBIT
Operating profit.
EBIT-adj.
Operating profit excluding items affecting comparability.
Operating margin before depreciation (EBITDA margin)
Operating profit before depreciation, acquisition-related costs, and other items affecting comparability as a percentage of net sales.
Operating margin (EBIT margin)
Operating profit after depreciation as a percentage of net sales.
Operating margin excluding items affecting comparability (EBIT-adj. margin)
Operating profit after depreciation excluding items affecting comparability, as a percentage of net sales.
Profit margin
Profit after tax as a percentage of sales for the period.
Earnings per share – before dilution
Profit after tax divided by the average number of shares during the period.
Earnings per share – after dilution
Profit after tax adjusted for dilution effects divided by the average number of shares after dilution during the period.
Equity per share
Equity at the end of the period divided by the number of shares at the end of the period.
Return on equity
Profit after tax as a percentage of average equity.
Return on capital employed
Operating profit as a percentage of average capital employed (total assets reduced by non-interest-bearing liabilities and cash and cash equivalents).
Free cash flow
Cash flow from operating activities minus cash flow from investing activities excluding acquisitions.
Net debt
Interest-bearing liabilities minus cash and cash equivalents.
Equity ratio
Equity as a percentage of total assets.
21
Lasernet Group
Ordering financial information
Financial information and other relevant company information is
published on ir.formpipe.com.
Information can also be ordered from:
Formpipe, Box 23131, 104 35 Stockholm and via
[email protected]
Investor Relations contact
CFO Sophie Reinius
[email protected]