Norway · Delayed Price · Currency is NOK Cyviz AS Earnings Call Transcripts
Fiscal Year 2026
-
Q3 revenue rose 9% QoQ and EBITDA improved, but delayed large deals kept order intake at NOK 74.2 million. Management guided to NOK 180–220 million Q4 intake and is prioritizing cost control, recurring software revenue, and defense markets.
-
Q2 saw strong order intake growth and a rebound in the Middle East, but revenue fell 35% year-over-year due to project delays. ARR rose to NOK 76.8 million, with a high gross margin of 65%, and the order backlog is expected to drive a stronger H2.
-
Q1 results were impacted by Middle East disruptions, reducing revenue and order intake, but Europe and North America performed on plan. Gross margin remained strong at 52%, and the backlog grew 6% year-over-year. A robust Q2 pipeline, especially in defense, supports a positive outlook.
Fiscal Year 2025
-
Q4 delivered revenue and EBITDA growth, but full-year results missed expectations due to deferred Middle East deals. ARR rose 35% year-over-year, and the outlook for 2026 is strong with a robust backlog, expanded partner network, and growing defense pipeline.
-
Q3 delivered record order intake and strong ARR growth, despite revenue softness from project delays and geopolitical disruptions. The order backlog is near historic highs, with momentum expected to continue, especially in defense and platform segments.
-
Q2 was soft due to delayed large deals, but underlying business and margins remained strong. Order intake hit a record high year-to-date, and management expects to meet full-year targets with a robust pipeline, especially in defense and energy sectors.
-
Q1 2025 saw 27% revenue growth and strong order intake despite market turbulence, with gross margin at 54% and positive EBITDA. Defense and SaaS sectors are key growth drivers, and cash flow is expected to normalize in Q2.
Fiscal Year 2024
-
Record Q4 and full-year results were achieved, with revenue, gross profit, and EBITDA all reaching historic highs. Diversification across sectors and regions, strong cash flow, and a strategic focus on ARR and SaaS position the company for continued growth in 2025.
-
Q3 saw strong order intake, improved profitability, and key strategic wins, with order intake up 50% year-over-year and EBITDA rising significantly. Cash flow challenges are being addressed, and the outlook for 2025 is positive, driven by new products and a growing partner ecosystem.
-
Order intake grew 27% year-over-year, but Q2 revenue fell 12.9% due to project timing, with EBITDA dropping to NOK 2.2 million. Gross margin remained strong, and the order backlog hit an all-time high, supporting a positive outlook and new software-driven growth initiatives.