Litium: Strong client intake bodes well for '25 growth - ABG

Sales in line with ABGSCe, ARR slightly below
Limited, downward consensus estimate revisions
Highlights record-high client intake


Q1'25 report

Litium reported an ARR of SEK 73.3m (-2% vs. ABGSCe 74.5m), net sales of SEK 18.9m (+/-0% vs. ABGSCe 18.9m) and an EBITDA of SEK 3.8m (-20% vs. ABGSCe 4.8m). The deviation on EBITDA is primarily explained by the CEO transition as well as some one-off costs related to "strategic initiatives". Overall, the reported figures were slightly below our estimates. That said, we deem the growth, which primarily originated from variable revenues, to be encouraging.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/Litium/Equity-research/2025/4/litium---strong-client-intake-bodes-well-for-25-growth/