Pro Forma April - June 2025 * (SEK 000s)
• Consolidated net sales: 101,137
• Adjusted EBITDA: 5,342
• Adjusted EBITDA-margin: 5%
• Adjusted EBIT before acquisition-related amortization: 2,160
* The pro forma figures for April - June 2025 includes the performance of the acquisitions made to date.
Numbers are presented without any impact synergies or integration effects.
Reported April - June 2025 (SEK 000s)
• Organic net sales increase: 19% YoY *
• Consolidated net sales: 60,551
• EBITDA: -29,962
• Operating profit, EBIT: -40,836
• Profit after tax: -44,412
• Non-recurring expenses for the period: 27,330 **
• Adjusted EBITDA: -2,632
• Adjusted EBIT before acquisition-related amortization: -5,814 ***
* Comparison is made against 2024 figures excluding the divested ERP division and current year aqcuisitions.
** Non-recurring expenses related to the divestmend of the ERP-division in 2024.
*** Excluding amortization of acquisition-related intangible assets, e.g. goodwill, customer relationships,
technology, identified in the purchase price allocation in accordance with the K3 accounting standard.
The numbers above have not been audited and are presented to give an indicative performance of the group.
CEO Comment
Dear Shareholders,
As we close the second quarter of 2025, Done.ai continues to move in our fast-paced and disciplined build phase. This
quarter has been marked by continued organic growth, active integration of our strategic acquisitions, and meaningful progress toward our long-term vision to build an AI-driven, one-stop-shop business platform. We are creating a unified ecosystem that seamlessly connects finance, CRM, marketing, operations, and intelligence, all designed to help businesses find, win, and grow customer relationships.
Done.ai is not simply acquiring and aggregating, we are assembling a next-generation operational stack. And we are doing so with a clear goal: to deliver real customer value, strong cash flows, and long-term shareholder return.
Growing Organically, Integrating Strategically
Done.ai's financial performance continues to strengthen. On a pro forma basis including all acquisitions completed to date,
Done.ai delivered SEK 101 million in revenue in Q2, reflecting the current true scale of the operating group. The result for the period was impacted by a SEK 27 million closing balance sheet adjustment related to the divestment of the company's ERP division at the end of 2024, which is non-recurring and not connected to the Group's ongoing operations. Adjusted for this item, pro forma EBITDA amounted to SEK 5 million in Q2, without yet realizing the full synergies of the acquisitions.
Reported group net sales were SEK 61 million in Q2, compared to SEK 8 million in Q2 2024 (excluding the divested ERP division), highlighting Done.ai's strong underlying growth. Adjusted EBITDA for the group was a loss of SEK 3 million, as integration and platform investments continue.
We are actively integrating the strategic acquisitions completed during H1 2025:
• Frisikt, WeAssist, Accountabl, and Metamanager have added critical capabilities across accounting, CRM, spend
management, and AI-powered SEO.
• Debet, Fullstakk, and Jcloud, closed after Q2, have strengthened our customer base, cloud capability, and marketing
capacity across the Nordics.
• Also following quarter-end, we closed the final phase of the Huddlestock IaaS acquisition, bringing institutional-grade
investment infrastructure fully under our ownership. The business will be rebranded to Done Investments.
The result is a stronger and more capable platform company with a unified stack built for growth.
The Done.ai Platform Takes Shape
As part of our strategy, Done.ai is actively integrating our product portfolio into a unified, modular platform. Already today,
customers can directly access multiple parts of the Done.ai ecosystem, whether CRM, marketing, HR, MRP or services. As we expand and continue our integration we are also rolling out the Done.ai platform which once completed will be the main home of our entire product suite.
We are also rolling out shared group tools and infrastructure across our businesses, enabling everything from single-sign-on to embedded analytics, and working toward a full cross-sell go-to-market approach.
Fintech Products Rollout in Motion
A key pillar of Done.ai's vision is to build a smarter, more integrated financial services experience for the SMB segment. During Q2, we made solid progress on our first fintech product, Deferred Payments, with beta launch expected in Q4. This product will allow end users to extend payment terms on invoices, improving liquidity and cash flow planning. The service is being developed in close partnership with 24SevenOffice and Nordiska. Done.ai has an exclusive distribution agreement of all its financial services offerings with 24SevenOffice to the end of 2028.
The Deferred Payments product establishes the foundation for Done.ai's broader embedded finance suite. With Accountabl, our UK-based spend management company, we are continuing to progress towards the launch of our Nordic spend management solution. Over time, the suite will expand to include:
• Spend and card management solutions for greater control and efficiency
• Working capital products, including SME lending and factoring
• Treasury and FX services to simplify international transactions
• Investment solutions tailored for SMEs
We expect the Fintech division to become a meaningful revenue contributor from 2026 onwards.
Building for Cash Flow and Long-Term Value
Done.ai continue to operate with a clear focus on cash flow discipline and shareholder value creation. Our pro forma EBITDA remains positive, even as we absorb the cost of integration and platform investment. The group has over SEK 200 million in liquidity after all acquisitions made to date, providing us flexibility for future growth and further acquisitions.
The strategic rationale behind our acquisitions is not simply revenue growth, it is margin expansion and recurring cash flow over time. As we integrate operations, consolidate back-office functions, and cross-sell services, we expect to unlock significant synergies in both gross margin and OPEX over the next 12-18 months.
Exploring Modern Treasury Strategy
Aligned with our product ambition, we are also modernizing our internal treasury approach. In response to growing SMB interest in crypto-enabled treasury tools, we initiated a NOK 20 million allocation to Bitcoin, backed by a regulated custody setup and clear policy framework. Our first purchases are imminent, and this move serves both strategic and exploratory purposes, helping us learn as we build future financial infrastructure.
Stronger Foundations, Wider Reach
In just six months, we've expanded to a customer base of over 10,000 businesses across the Nordics and internationally.
Through our exclusive distribution agreement with 24SevenOffice, we also have direct access to an additional 30,000 ERP customers, significantly strengthening our go-to-market capacity.
Our expanding international presence and M&A pipeline also position us well for continued disciplined growth through 2025 and 2026. With a strong balance sheet and continued shareholder backing, we retain flexibility to act with both speed and
focus.
Looking Ahead
We are still in the early chapters of our journey. But the pieces are coming together. The platform is taking shape. The integration is accelerating. And the value creation is beginning to surface.
Thank you for your continued trust. We are here to build something bold, something global, and something lasting and we're
just getting started.
Sincerely,
Staffan Herbst
CEO, Done.ai Group
For further information please contact:
Staffan Herbst, CEO
Tel: +46 10 490 07 00, ir@done.ai
Certified Adviser
The Certified Adviser to Done.ai Group AB on Nasdaq First North Growth Market is Partner Fondkommission.
Address: Smålandsgatan 10, 111 46 Stockholm
Telephone: +46 (0)8-598 422 30
Website: partnerfk.com
About Done.ai
Done.ai has entered a new chapter marking its transformation from a traditional ERP vendor into a one-stop shop for modern businesses, offering an integrated suite of AI-powered tools that span the full operational workflow. With a modular, API-first architecture, businesses can manage their entire value chain, from first customer touchpoint to back-end accounting, fully integrated in one automated, end-to-end platform.
Through the integration of embedded financial services such as automated treasury management, payment solutions, spend management, and open banking, Done.ai aims to redefine how businesses manage liquidity and financial operations. These services will initially be launched through an exclusive three-year distribution agreement to 24SevenOffice's extensive customer base, ensuring rapid rollout and adoption.
Combining deep technological expertise, strategic partnerships, and AI-driven automation, Done.ai delivers real-time financial control, operational efficiency, and unmatched scalability, positioning the company as a leading AI-native fintech platform for the business sector.
Done.ai is headquartered in Sweden and listed on Nasdaq First North Growth Market under the ticker DONE.
This information is information that Done.ai Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-08-28 08:10 CEST.
