In This Article:
-
Revenue: Approximately 10% higher than the same quarter last year, marking the highest revenue number ever for a Q1.
-
Order Book: Almost SEK750 million at the end of the quarter, with the majority expected to be delivered in the next two quarters.
-
Gross Margin: Averaging over 60%, though slightly lower this quarter due to third-party system integrator deliveries.
-
Operating Margin: Lower than last year due to lower gross margin and higher operating expenses; four-quarter average around 21%.
-
Inventories: Increased to almost SEK300 million to enable fast delivery of large volumes.
-
Cash Flow: Positively impacted by payments of trade receivables from strong Q4 2024 sales.
-
Acquisition: Acquired UltraLYNX in the UK, adding to the product line and headcount.
-
Total Addressable Market: Updated from SEK14 billion to SEK25 billion per year.
Release Date: May 06, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
-
Invisio AB (STU:ICQ) reported its highest Q1 revenue ever, approximately 10% higher than the same quarter last year.
-
The company maintains a strong order book of almost SEK750 million, with the majority expected to be delivered in the next two quarters.
-
Invisio AB (STU:ICQ) has a stable gross margin averaging over 60%, supported by newly developed products.
-
The acquisition of UltraLYNX is expected to expand Invisio AB (STU:ICQ)'s value proposition and contribute to revenues in the second half of 2025.
-
The company is well-prepared for potential tariff impacts with operational plans, including preparations for manufacturing in the US.
Negative Points
-
Order intake for Q1 was lower compared to the previous year, partly due to a large order in Q1 2024.
-
Gross margins were slightly lower this quarter due to deliveries made through third-party system integrators.
-
Operating expenses increased due to investments in product development and the acquisition of UltraLYNX.
-
The operating margin was lower than last year due to lower gross margins and higher operating expenses.
-
There is uncertainty regarding the impact of national defense budgets on revenues, with significant effects expected only from the second half of 2025.
Q & A Highlights
Q: How do you expect the growth pace in European and North American markets to develop during 2025, given the recent political discussions? A: Lars Hansen, CEO: We expect strong investments in Europe to continue for many years, despite quarterly fluctuations. The US market remains a strong contributor to our order intake and revenues, unaffected by tariff discussions.