2026 Q2 - tulosraportti
Vain PDF
39 päivää sitten
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| - | - | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastot ja ETF:t, joilla on osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 - tulosraportti 12.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 - tulosraportti 13.8. | ||
2026 Q1 - tulosraportti 13.5. | ||
2025 Q4 - tulosraportti 26.2. | ||
2025 Q3 - tulosraportti 13.11.2025 | ||
2025 Q2 - tulosraportti 14.8.2025 |
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
·13.8. · MuokattuExtremely good result??? 870% increase in EBITDA
- ·13.1.Our friend, c-gpt, reads the Q1-Q3 reports and cross-references them with the press release and is not entirely convinced. ---------------------------------------- When reading Q1–Q3 2025 in more detail, the picture becomes clearer, but I don't arrive at a more “proven” substance behind the press release. Rather: the message in the press release is largely a pro forma narrative about 2026, while actual 2025 figures up to Q3 do not show break-even. Below are the most important data points and what they mean. 1) “Recurring revenue covers operating costs and interest / break-even before 2026” The reports actually contain the two series you need: recurring revenue and operating costs per quarter. Q1 2025: Recurring revenue 32.2 MSEK, operating costs -40.4 MSEK → gap approx. 8.2 MSEK before interest. Q1-2025 Q2 2025: Recurring revenue 31.1 MSEK, operating costs -39.8 MSEK → gap approx. 8.7 MSEK before interest. Q2-2025 Q3 2025: Recurring revenue 30.3 MSEK, operating costs -41.1 MSEK → gap approx. 10.8 MSEK before interest. Q3-2025 (1) This means: in actual reporting during 2025, recurring revenue does not cover operating costs, and interest is also on top of that. What SDS does in Q2/Q3 is to show a “pro forma 2026” comparison where they adjust down operating costs with savings that “have already been made but have not yet had full effect”. This may be reasonable as a scenario — but it is not the same as it already being true in the 2025 outcome. 2) “66 MSEK cost savings, full effect from January 2026” Here, the reports become more consistent as the year progresses: Q1 talks about a program of 30–40 MSEK. Q1-2025 Q2 says program “total 60 MSEK”, of which 44 MSEK already implemented, full effect Jan 2026. Q2-2025 Q3 goes further and says that SDS “achieves 66.0 MSEK in savings” and directly links this to recurring revenue then covering operating costs and interest. Q3-2025 (1) So: the claim of 66 MSEK itself is clearly present in Q3, but it is still in practice a run-rate-/future assumption because the full effect will only be visible from January 2026 (according to themselves). Q3-2025 (1) 3) “Low churn / long contracts / stable revenue base” Q1 states outright that they have lost approx. 5 MSEK in recurring revenue, partly due to FX but also because some customers did not want to renew contracts (e.g., linked to migration from PayMobile to ERS). Q1-2025 And actual recurring revenue decreases Q1→Q3 (32.2 → 31.1 → 30.3). This makes “low churn” feel weakly substantiated in the material you provided (they do not report churn-%), and the trend in recurring is not upwards during 2025. 4) “Transformation completed / stable financial foundation / low risk” The reports, on the contrary, describe a rather strained financial situation during 2025: Repeated covenant breaches (minimum cash 10 MSEK) and need for standstill/waiver. Q3: they raise a new share issue and a new loan of 10 MSEK, plus a standstill on covenants. Q3-2025 (1) This does not contradict that a turnaround can succeed — but “stable financial foundation” is difficult to call it when covenants are still being breached and new capital/loans are needed to get to 2026. 5) 2025 earnings picture: it is primarily “adjusted/pro forma” that carries the narrative Q2 contains a large write-down of intangible assets (approx. 30 MSEK) and they talk about “underlying positive” if one cleanses for FX, write-downs, and specific Belgium costs. Q2-2025 Q3 takes this further and shows a pro forma bridge where they arrive at an “adjusted profit before tax (pro forma 2026)” based on the same turnover as 1–9M 2025 but with a new run-rate for costs/depreciation/FX/interest. This is relevant as a scenario — but that is also exactly where the “substance” hangs: that 2026 truly achieves full impact and that revenues do not continue to fall. Conclusion: Do I arrive at anything different than before? A bit more nuanced, but not “more positive”: Yes, there is more support that they have implemented a large savings program (they scale up from 30–40 → 60 → 66 MSEK during the year). No, Q1–Q3 does not show that they have already reached break-even on recurring; on the contrary, recurring is below operating costs every quarter. “Stable financial foundation” and “low risk” are difficult to fully accept when covenant breaches/standstill and capital injections still characterize the year. The press release (Jan 2026) is in line with Q3's pro forma narrative, but it is still an assumption that must be proven in Q4 2025 and Q1 2026.
31.1.2022 · MuokattuVill rekommendera att kika in på SDS bolagspresentation på: https://www.youtube.com/watch?v=SJDywdqDDDk Mycket matnyttigt om vad bolaget faktiskt gör.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Välittäjätilasto
Dataa ei löytynyt
2026 Q2 - tulosraportti
Vain PDF
39 päivää sitten
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
- ·13.8. · MuokattuExtremely good result??? 870% increase in EBITDA
- ·13.1.Our friend, c-gpt, reads the Q1-Q3 reports and cross-references them with the press release and is not entirely convinced. ---------------------------------------- When reading Q1–Q3 2025 in more detail, the picture becomes clearer, but I don't arrive at a more “proven” substance behind the press release. Rather: the message in the press release is largely a pro forma narrative about 2026, while actual 2025 figures up to Q3 do not show break-even. Below are the most important data points and what they mean. 1) “Recurring revenue covers operating costs and interest / break-even before 2026” The reports actually contain the two series you need: recurring revenue and operating costs per quarter. Q1 2025: Recurring revenue 32.2 MSEK, operating costs -40.4 MSEK → gap approx. 8.2 MSEK before interest. Q1-2025 Q2 2025: Recurring revenue 31.1 MSEK, operating costs -39.8 MSEK → gap approx. 8.7 MSEK before interest. Q2-2025 Q3 2025: Recurring revenue 30.3 MSEK, operating costs -41.1 MSEK → gap approx. 10.8 MSEK before interest. Q3-2025 (1) This means: in actual reporting during 2025, recurring revenue does not cover operating costs, and interest is also on top of that. What SDS does in Q2/Q3 is to show a “pro forma 2026” comparison where they adjust down operating costs with savings that “have already been made but have not yet had full effect”. This may be reasonable as a scenario — but it is not the same as it already being true in the 2025 outcome. 2) “66 MSEK cost savings, full effect from January 2026” Here, the reports become more consistent as the year progresses: Q1 talks about a program of 30–40 MSEK. Q1-2025 Q2 says program “total 60 MSEK”, of which 44 MSEK already implemented, full effect Jan 2026. Q2-2025 Q3 goes further and says that SDS “achieves 66.0 MSEK in savings” and directly links this to recurring revenue then covering operating costs and interest. Q3-2025 (1) So: the claim of 66 MSEK itself is clearly present in Q3, but it is still in practice a run-rate-/future assumption because the full effect will only be visible from January 2026 (according to themselves). Q3-2025 (1) 3) “Low churn / long contracts / stable revenue base” Q1 states outright that they have lost approx. 5 MSEK in recurring revenue, partly due to FX but also because some customers did not want to renew contracts (e.g., linked to migration from PayMobile to ERS). Q1-2025 And actual recurring revenue decreases Q1→Q3 (32.2 → 31.1 → 30.3). This makes “low churn” feel weakly substantiated in the material you provided (they do not report churn-%), and the trend in recurring is not upwards during 2025. 4) “Transformation completed / stable financial foundation / low risk” The reports, on the contrary, describe a rather strained financial situation during 2025: Repeated covenant breaches (minimum cash 10 MSEK) and need for standstill/waiver. Q3: they raise a new share issue and a new loan of 10 MSEK, plus a standstill on covenants. Q3-2025 (1) This does not contradict that a turnaround can succeed — but “stable financial foundation” is difficult to call it when covenants are still being breached and new capital/loans are needed to get to 2026. 5) 2025 earnings picture: it is primarily “adjusted/pro forma” that carries the narrative Q2 contains a large write-down of intangible assets (approx. 30 MSEK) and they talk about “underlying positive” if one cleanses for FX, write-downs, and specific Belgium costs. Q2-2025 Q3 takes this further and shows a pro forma bridge where they arrive at an “adjusted profit before tax (pro forma 2026)” based on the same turnover as 1–9M 2025 but with a new run-rate for costs/depreciation/FX/interest. This is relevant as a scenario — but that is also exactly where the “substance” hangs: that 2026 truly achieves full impact and that revenues do not continue to fall. Conclusion: Do I arrive at anything different than before? A bit more nuanced, but not “more positive”: Yes, there is more support that they have implemented a large savings program (they scale up from 30–40 → 60 → 66 MSEK during the year). No, Q1–Q3 does not show that they have already reached break-even on recurring; on the contrary, recurring is below operating costs every quarter. “Stable financial foundation” and “low risk” are difficult to fully accept when covenant breaches/standstill and capital injections still characterize the year. The press release (Jan 2026) is in line with Q3's pro forma narrative, but it is still an assumption that must be proven in Q4 2025 and Q1 2026.
- 31.1.2022 · MuokattuVill rekommendera att kika in på SDS bolagspresentation på: https://www.youtube.com/watch?v=SJDywdqDDDk Mycket matnyttigt om vad bolaget faktiskt gör.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| - | - | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastot ja ETF:t, joilla on osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 - tulosraportti 12.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 - tulosraportti 13.8. | ||
2026 Q1 - tulosraportti 13.5. | ||
2025 Q4 - tulosraportti 26.2. | ||
2025 Q3 - tulosraportti 13.11.2025 | ||
2025 Q2 - tulosraportti 14.8.2025 |
Välittäjätilasto
Dataa ei löytynyt
2026 Q2 - tulosraportti
Vain PDF
39 päivää sitten
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 - tulosraportti 12.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 - tulosraportti 13.8. | ||
2026 Q1 - tulosraportti 13.5. | ||
2025 Q4 - tulosraportti 26.2. | ||
2025 Q3 - tulosraportti 13.11.2025 | ||
2025 Q2 - tulosraportti 14.8.2025 |
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
- ·13.8. · MuokattuExtremely good result??? 870% increase in EBITDA
- ·13.1.Our friend, c-gpt, reads the Q1-Q3 reports and cross-references them with the press release and is not entirely convinced. ---------------------------------------- When reading Q1–Q3 2025 in more detail, the picture becomes clearer, but I don't arrive at a more “proven” substance behind the press release. Rather: the message in the press release is largely a pro forma narrative about 2026, while actual 2025 figures up to Q3 do not show break-even. Below are the most important data points and what they mean. 1) “Recurring revenue covers operating costs and interest / break-even before 2026” The reports actually contain the two series you need: recurring revenue and operating costs per quarter. Q1 2025: Recurring revenue 32.2 MSEK, operating costs -40.4 MSEK → gap approx. 8.2 MSEK before interest. Q1-2025 Q2 2025: Recurring revenue 31.1 MSEK, operating costs -39.8 MSEK → gap approx. 8.7 MSEK before interest. Q2-2025 Q3 2025: Recurring revenue 30.3 MSEK, operating costs -41.1 MSEK → gap approx. 10.8 MSEK before interest. Q3-2025 (1) This means: in actual reporting during 2025, recurring revenue does not cover operating costs, and interest is also on top of that. What SDS does in Q2/Q3 is to show a “pro forma 2026” comparison where they adjust down operating costs with savings that “have already been made but have not yet had full effect”. This may be reasonable as a scenario — but it is not the same as it already being true in the 2025 outcome. 2) “66 MSEK cost savings, full effect from January 2026” Here, the reports become more consistent as the year progresses: Q1 talks about a program of 30–40 MSEK. Q1-2025 Q2 says program “total 60 MSEK”, of which 44 MSEK already implemented, full effect Jan 2026. Q2-2025 Q3 goes further and says that SDS “achieves 66.0 MSEK in savings” and directly links this to recurring revenue then covering operating costs and interest. Q3-2025 (1) So: the claim of 66 MSEK itself is clearly present in Q3, but it is still in practice a run-rate-/future assumption because the full effect will only be visible from January 2026 (according to themselves). Q3-2025 (1) 3) “Low churn / long contracts / stable revenue base” Q1 states outright that they have lost approx. 5 MSEK in recurring revenue, partly due to FX but also because some customers did not want to renew contracts (e.g., linked to migration from PayMobile to ERS). Q1-2025 And actual recurring revenue decreases Q1→Q3 (32.2 → 31.1 → 30.3). This makes “low churn” feel weakly substantiated in the material you provided (they do not report churn-%), and the trend in recurring is not upwards during 2025. 4) “Transformation completed / stable financial foundation / low risk” The reports, on the contrary, describe a rather strained financial situation during 2025: Repeated covenant breaches (minimum cash 10 MSEK) and need for standstill/waiver. Q3: they raise a new share issue and a new loan of 10 MSEK, plus a standstill on covenants. Q3-2025 (1) This does not contradict that a turnaround can succeed — but “stable financial foundation” is difficult to call it when covenants are still being breached and new capital/loans are needed to get to 2026. 5) 2025 earnings picture: it is primarily “adjusted/pro forma” that carries the narrative Q2 contains a large write-down of intangible assets (approx. 30 MSEK) and they talk about “underlying positive” if one cleanses for FX, write-downs, and specific Belgium costs. Q2-2025 Q3 takes this further and shows a pro forma bridge where they arrive at an “adjusted profit before tax (pro forma 2026)” based on the same turnover as 1–9M 2025 but with a new run-rate for costs/depreciation/FX/interest. This is relevant as a scenario — but that is also exactly where the “substance” hangs: that 2026 truly achieves full impact and that revenues do not continue to fall. Conclusion: Do I arrive at anything different than before? A bit more nuanced, but not “more positive”: Yes, there is more support that they have implemented a large savings program (they scale up from 30–40 → 60 → 66 MSEK during the year). No, Q1–Q3 does not show that they have already reached break-even on recurring; on the contrary, recurring is below operating costs every quarter. “Stable financial foundation” and “low risk” are difficult to fully accept when covenant breaches/standstill and capital injections still characterize the year. The press release (Jan 2026) is in line with Q3's pro forma narrative, but it is still an assumption that must be proven in Q4 2025 and Q1 2026.
- 31.1.2022 · MuokattuVill rekommendera att kika in på SDS bolagspresentation på: https://www.youtube.com/watch?v=SJDywdqDDDk Mycket matnyttigt om vad bolaget faktiskt gör.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| - | - | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastot ja ETF:t, joilla on osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Välittäjätilasto
Dataa ei löytynyt