Norway · Delayed Price · Currency is NOK Nordhealth AS Earnings Call Transcripts
Fiscal Year 2025
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Revenue surpassed EUR 50 million in 2025, with strong recurring growth and low churn. AI strategy and cloud migration are driving operational improvements, while profitability is impacted by ongoing R&D and migration costs. Guidance for 2026 targets continued recurring revenue growth and investment in AI.
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Q3 2025 saw 15.2% revenue growth, driven by strong recurring revenue in core business units and significant R&D investment in AI and DACH localization. Veterinary and Therapy segments posted robust retention and low churn, while guidance for 2025 was reiterated.
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Revenue and recurring revenue grew strongly in H1 2025, with major enterprise rollouts and AI features set to drive future growth. Investments in DACH localization and AI are accelerating, while profitability is impacted short-term by these initiatives.
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ARR grew 21.5% year-over-year to EUR 44.9 million, with Q1 2025 revenue up 23% to EUR 12.5 million. Veterinary and therapy segments showed strong retention and cloud migration, while guidance anticipates 12%-17% organic recurring revenue growth for 2025.
Fiscal Year 2024
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Q4 2024 saw over 20% organic ARR growth, strong recurring revenue gains, and improved profitability, with Veterinary and Therapy BUs both expanding. 2025 guidance targets 12%-17% organic recurring revenue growth, with a focus on major migrations and new AI product launches.
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Q3 2024 saw 23.7% organic ARR growth, 26.9% revenue growth, and improved profitability, with strong performance in the veterinary segment and ongoing investments in product development. Recurring revenue growth guidance for 2024 was raised to 18%-23%.
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Q2 2024 saw 33% revenue growth and early EBITDA less CapEx break-even, driven by strong veterinary cloud performance and disciplined cost management. Recurring revenue guidance of 15%-20% is maintained, with increased investments planned to capture enterprise opportunities and accelerate product migrations.