Hi, I'm Krister Karjalainen, Chief Executive Officer at Qbrick. Let me summarize our Q3 report. The third quarter was a quarter of momentum, and we are now starting to see results. Net sales grew 8% to SEK 6.6 million, compared with SEK 6.1 million a year ago. Gross margin rose to 81.5%, up from 72.7%. EBITDA was SEK 1.5 million, compared with -SEK 0.7 million a year earlier. Operating cash flow turned positive at SEK 0.5 million. Let's start with revenue. Net sales grew 8% to SEK 6.6 million, compared with SEK 6.1 million a year ago. Gross margin rose to 81.5% from 72.7%. SaaS revenue is driving the margin. It grew through our collaboration with Bonnier News, a scalable business that has gained more customers, even though the quarter also included a larger share of production assignments through our animation studio, Ritualen. EBITDA has turned positive.
It has developed from -SEK 0.7 million in the first quarter and -SEK 1.5 million in the second to SEK 1.5 million in the third. That is the first positive quarter since the second quarter of 2025. The net result also improved to - SEK 0.9 million from -SEK 3.4 million a year ago. This improvement comes from decisive actions. Operating costs fell to SEK 9.3 million from SEK 10.7 million a year ago, and the cost savings program we completed in July will have its full effect from the first quarter of 2027. Operating cash flow turned positive at SEK 0.5 million, compared with -SEK 1.9 million in the second quarter and -SEK 0.7 million in the first. We keep developing the platform.
During Q3, we have launched an updated editing solution for our customers, Quick Edit, and we have also launched a solution that increases the visibility of our customers' videos to AI agents. It is a unique feature that enable video content to be found in a media landscape driven by AI agents. Our partnership with Bonnier News is developing positively. Qbrick delivers a modern video platform and related services to listed companies. The business with Bonnier News grew in the third quarter, and we expect continued growth in the fourth quarter. More and more large-cap companies have chosen Di Investor Relations as their channel for investor communications. We have also expanded our current partnership with Børsen, which has launched Børsen Investor Academy, a new video-based education platform powered by Qbrick. Turning to our AI business, we have reached two milestones.
Dirion, our wholly owned subsidiary for AI governance, have reached a first customer milestone. Moank, a Swedish bank, has agreed to run a pilot, and we are building it together with them. We have also signed a global enterprise customer for Qbrick Pulse, our AI-native solution for learning and competence. To sum up, we exit the third quarter stronger than we entered it. The SaaS core stands stable. Revenue grew 8%. The gross margin strengthened to 81.5%, and EBITDA turned positive. The cost base comes down going forward, with full effect from the first quarter of 2027. Our AI portfolio is established, with a first pilot with a customer for Dirion. Qbrick has a strong foundation and several new opportunities, with a strong partnership with Bonnier News and two new AI businesses, Dirion and Qbrick Pulse. We will keep executing with discipline and focus.
Finally, I would like to thank all our employees for their work and commitment, and our customers, partners, and shareholders for their trust. Thank you for listening.