Sweden · Delayed Price · Currency is SEK Enea AB Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw 12% net sales growth (constant currency), a 34% adjusted EBITDA margin, and strong gains in EPS. Growth was led by firewalls and security, with robust momentum in government and telco sectors. Guidance for 2026 and long-term targets remain unchanged.
Fiscal Year 2025
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Q4 2025 delivered record profitability with a 40% adjusted EBITDA margin, despite FX-driven sales declines. Growth in security and networks continued in constant currency, and new strategy investments target government and global expansion. Guidance for 2026 is single-digit growth and EBITDA above 30%.
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Security and regulatory trends are driving demand, with growth focused on network intelligence, signaling security, and embedded insights. New targets aim for 10%+ CAGR and 35%+ EBITDA by 2028, supported by market expansion, vertical focus on government and MVNOs, and product evolution with AI.
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Q3 net sales grew 3% in constant currency, with a 33% adjusted EBITDA margin and strong EPS improvement. Network solutions led segment growth, and guidance remains for continued expansion in network and security with stable margins and cash flow.
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Q2 2025 saw flat currency-adjusted sales and a 33% EBITDA margin amid SEK 11 million in currency headwinds. Security business declined, but networks and legacy OS segments grew; guidance and long-term targets remain unchanged.
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Q1 2025 saw 7% net sales growth (6% currency-adjusted), with strong network segment performance and stable security revenues. Currency volatility impacted EPS and gross margin, but recurring revenue and cash flow remain robust. Guidance for double-digit growth and 30–35% EBITDA margin is unchanged.
Fiscal Year 2024
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Double-digit growth achieved in both security and network segments, with strong recurring revenues and a record $27M contract signed. EBITDA margin reached 37% in Q4, and guidance for 2025 targets 30%-35% EBITDA margin and continued growth in focus areas.
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The company has transformed into a software-centric leader in cybersecurity and network performance, achieving double-digit growth in focus areas and 70% recurring revenue. Strategic acquisitions, disciplined R&D, and a global customer base underpin stable margins and strong cash flow, with ambitions for continued expansion and innovation.
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Q3 saw 3% organic growth and strong double-digit gains in focus areas, with a record $17.7M contract secured for Stratum. Security Solutions license revenues surged 67% year-on-year, and EBITDA margin remained robust at 33%. Guidance for 2024 is reiterated.
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Q2 2024 saw 14% organic growth, a 35% EBITDA margin, and strong gains in security and network segments, driven by a major 5G UDR deal. Cash flow supported share buybacks, and the outlook remains positive despite industry headwinds.