cBrain Income Statement

Financials in millions DKK. Fiscal year is January - December.

Millions DKK. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	251.26	267.78	239.18	187.92	154.66
Revenue Growth (YoY)	-6.17%	11.96%	27.28%	21.51%	28.76%
Cost of Revenue	40.47	41.61	37.84	30.22	20.57
Gross Profit	210.79	226.17	201.35	157.71	134.09
Selling, General & Admin	148.45	135.91	121.18	110.42	95.51
Depreciation & Amortization Expenses	28.79	24.76	21.17	18.85	19.44
Research & Development	-25.18	-22.84	-26.4	-20.95	-19.58
Total Operating Expenses	152.06	137.83	115.94	108.33	95.38
Operating Income	58.73	88.34	85.41	49.38	38.71
Interest Income	1.04	1.07	1.31	0.72	0.97
Interest Expense	-3.45	-3.4	-5.36	-1.17	-0.7
Total Non-Operating Income (Expense)	-2.41	-2.34	-4.05	-0.45	0.28
Pretax Income	56.32	86	81.35	48.93	38.99
Provision for Income Taxes	13.19	21.19	18.18	10.55	7.98
Net Income	43.12	64.82	63.18	38.38	31.01
Net Income to Common	43.12	64.82	63.18	38.38	31.01
Net Income Growth	-33.47%	2.59%	64.60%	23.79%	99.56%
Shares Outstanding (Basic)	20	20	20	20	20
Shares Outstanding (Diluted)	20	20	20	20	20
Shares Change (YoY)	-0.01%	0.01%	0.00%	-0.86%	0.92%
EPS (Basic)	2.16	3.24	3.16	1.92	1.55
EPS (Diluted)	2.16	3.24	3.16	1.92	1.59
EPS Growth	-33.33%	2.53%	64.58%	20.76%	103.85%
Shares Outstanding	19.56	19.56	19.56	19.56	19.56
Free Cash Flow	81.73	43.33	85.59	-143.18	49.27
Free Cash Flow Growth	88.65%	-49.38%	-	-	12.61%
Free Cash Flow Per Share	4.18	2.21	4.38	-7.32	2.50
Dividends Per Share	1.000	0.640	0.280	0.210	0.170
Dividend Growth	56.25%	128.57%	33.33%	23.53%	21.43%
Gross Margin	83.89%	84.46%	84.18%	83.92%	86.70%
Operating Margin	23.37%	32.99%	35.71%	26.28%	25.03%
Profit Margin	17.16%	24.20%	26.41%	20.42%	20.05%
FCF Margin	32.53%	16.18%	35.79%	-76.19%	31.86%
EBITDA	87.52	113.1	106.57	68.23	58.16
EBITDA Margin	34.83%	42.24%	44.56%	36.31%	37.60%
EBIT	58.73	88.34	85.41	49.38	38.71
EBIT Margin	23.37%	32.99%	35.71%	26.28%	25.03%
Effective Tax Rate	23.43%	24.64%	22.34%	21.55%	20.47%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.