THE PERIOD 1 JULY- 30 SEPTEMBER 2025
- Order intake increased with 40.5 percent to 40.1 MSEK (28.5). Adjusted for currency effects between the comparison periods, order intake increased with 47.4 percent.
- Net sales decreased by 30.9 percent to 17.4 MSEK (25.2). Adjusted for currency effects between the comparison periods, net sales decreased by 27.8 percent.
- Operating profit before depreciation (EBITDA) amounted to -8.3 MSEK (-4.5) and operating profit before financial items (EBIT) amounted to -10.6 MSEK (-6.9).
- Profit before tax amounted to -11.1 MSEK (-7.4).
- Earning per share amounted to -0.8 SEK (-0.6).
- Cashflow amounted to -7.8 MSEK (-7.3), of which -6.3 MSEK (-3.5) from operating activities, -1.2 MSEK (-0.7) from investing activities and -0.3 MSEK (-3.1) from financing activities.
- Cash and cash equivalents amounted to12.9 MSEK (33.1) at the end of the period.
- FlexQube has received an order worth approximately SEK 2.4 million for the delivery of material handling carts to a well-known German automotive manufacturer with a plant in the United States. The order is a direct result of the partnership agreement signed at the end of March between FlexQube and Transpofix GmbH and represents the first concrete outcome of the joint commercial efforts between the two companies.
- FlexQube has received a new order worth approximately SEK 3 million for the delivery of customized material handling carts to a global manufacturer with operations in Tennessee, USA. Delivery is scheduled for the fourth quarter of 2025.
- FlexQube has received a pilot order worth USD 370,000 from an existing U.S. customer for a material handling solution that could evolve into FlexQube's largest projects to date. The pilot will evaluate a scalable configuration tailored to the customer's operations. If successful, the first phase of a full rollout is expected to result in an order of USD 6 million or more in early 2026. The total project volume for 2026 and 2027 could reach above USD 43 million.
- FlexQube has received a new pilot order regarding the company's Navigator AMR solution from an existing customer in the USA. The order amounts to approximately USD 270,000. The customer is the same one that in August 2025 placed a first pilot order in another project, but this order concerns a different division within the company. The pilot involves a specially adapted load carrier for the customer's existing cart fleet, integrated with FlexQube's Navigator AMR.
- FlexQube is granted key patent in Europe for its unique AMR system, FlexQube Navigator AMR. The granted patent is closely linked to customers' need to automate many different flows within material handling. The patent covers a non-load-bearing AMR that can autonomously connect, via a standardized interface, to various types of functional load carriers designed to solve different material handling applications.
- FlexQube receives follow up AGV order from customer in Mexico, a prominent Tier 1 supplier for the automotive industry. The order, valued at approximately USD 200,000, follows previous deliveries of AGVs that are already in use at two of the customer's facilities in Mexico. The new AGV units will be delivered in the fourth quarter of 2025.
THE PERIOD 1 JANUARY - 30 SEPTEMBER 2025
- Order intake decreased by 11.5 percent to 89.2 MSEK (100.8). Adjusted for currency effects between the comparison periods, order intake decreased by 7.3 percent.
- Net sales decreased by 20.5 percent to 69.1 MSEK (87.0). Adjusted for currency effects between the comparison periods, net sales decreased by 17.1 percent.
- Operating profit before depreciation (EBITDA) amounted to -20.8 MSEK (-24.7) and operating profit before financial items (EBIT) amounted to -27.4 MSEK (-31.7).
- Profit before tax amounted to -29.1 MSEK (-33.7).
- Earnings per share amounted to -2.2 SEK (-2.0).
- Cash flow amounted to -22.5 MSEK (-16.1). Of which -10.7 MSEK (-15.7) from operating activities, -2.9 MSEK (-3.3) from investing activities, and -8.9 MSEK (3.0) from financing activities.
- Cash and cash equivalents amounted to 12.9 MSEK (33.1) at the end of the period.
EVENTS AFTER THE END OF THE QUARTER
- US customer confirms extension of previously communicated pilot order with additional USD 1.6 million which primarily concerns FlexQube Navigator AMR. This extension is included in the order intake for Q3 2025.
- FlexQube received a new order worth approximately USD 600,000 for the delivery of FlexQube Navigator AMR and tugger train solutions with an existing customer in the US.
- FlexQube completes a directed share issue of approximately SEK 40 million in order to strengthen the company's financial position to be prepared for future volume orders.
Link to the report for the third quarter 2025: https://flexqubegroup.com/financial-information/
The entire quarterly report is also attached to this press release.
CEO LETTER
A quarter with important milestones and strong order intake in the U.S.
The third quarter of 2025 marked an important step forward for FlexQube. We reached several milestones, both commercially and technologically, that strengthen our position ahead of the next phase in our growth journey. Order intake increased by just over 40 percent compared to the same quarter last year, reaching just over 40 MSEK, and the quarter ended very strongly with a record-high order intake in September that have continued in October. The order intake for the quarter was the second highest level since Q2 2022, driven by strong performance in the U.S. and a growing project pipeline within automation. The U.S. continues to be our strongest and most promising market, with an accelerating project portfolio and several strategically important customer relationships now moving into the next phase.
After the end of the quarter, we strengthened our cash position through a directed share issue of approximately 40 MSEK, providing us with increased flexibility ahead of 2026. The increased cash balance will primarily be used to provide sufficient working capital to ensure the production and delivery of larger volume orders, as well as to support marketing initiatives within automation in the North American market.
Despite lower sales in the quarter, which is a direct consequence of the lower order intake in previous quarters, the EBITDA result after the nine-month period is still SEK 4 million better than the corresponding period last year. It should also be clarified that one third of the order intake during the second quarter of this year will not be delivered until the first quarter of 2026.
In the quarter we received several important pilot orders in the U.S. with significant strategic potential. One of these pilots, with an existing customer, has the potential to become one of the largest projects in FlexQube's history. The first phase is expected to generate an order exceeding 60 MSEK in early 2026, and the total project volume over 2026-2027 could exceed 400 MSEK if the customer decides to scale up with FlexQube for solutions including both mechanical and automation components. The fact that a global, leading e-commerce company has chosen FlexQube as a potential long-term partner in such a large-scale initiative is a strong testament to our expertise and value proposition. An intense effort is currently underway within FlexQube to meet the needs of this customer, and several key initial deliveries will take place in December. The outcome of these will be a crucial milestone in our ongoing journey with the customer.
Another significant event during the quarter was the granting of an additional patent in Europe for our unique AMR system, the FlexQube Navigator AMR. This patent strengthens protection around one of our most important innovations-a non-load-carrying robot that can autonomously connect to different load carriers via a standardized interface. This is a core technology forming the foundation of our offering and confirms that we have developed a solution at the technological forefront of flexible material automation.
During the quarter, we also received our first order combining the FlexQube Navigator AMR with the LiftRunner train system for a customer in Michigan, USA. This solution, combining our strengths in mechanical handling and automation, demonstrates the potential of our collaboration with KION. With thousands of LiftRunner trains already operating globally, we see significant opportunities to add our autonomous AMR solution into existing flows.
Demand in the U.S. is growing rapidly, and we have therefore intensified our investments in this market. At the start of Q4, we further strengthened the organization with an automation engineer, and in November two mechanical design engineers will join. In addition, the sales team was expanded at the end of September with two new sales representatives, increasing our capacity to drive multiple business opportunities in parallel.
Although challenges remain significant in Europe and Mexico, the quarter ended strongly in Mexico with several orders from customers within the automotive industry. It is encouraging to see how our regional teams work closely with customers and continue to build trust in local markets.
Even though global uncertainty remains high, there are now more positive signs than earlier this year. Interest rates have come down, the tariff situation is more clear, and the green transition is shifting from fanaticism to realism. All else being equal, it is somewhat easier to be a business leader today than yesterday, which makes our customers more willing to make investment decisions. The focus is on automation that strengthens productivity and reduces dependence on labor that is sometimes hard to recruit. Here, FlexQube is well-positioned, we offer scalability, safety, and flexibility at a time when many are building the factories of the future.
We will close 2025 with a strong pipeline of business opportunities and pilot projects ready to scale quickly. There is a tangible sense of positive momentum in the organization, and our direction is clear: FlexQube should be the best partner for companies that want to combine smart automation with ergonomic and safe material handling.
Following the directed share issue early in the quarter, we are financially stronger and can fully focus on executing our strategic plan with an even greater emphasis on the U.S. and our robotics platform.
I have personally spent a large part of the year in North America meeting customers. It is clear that the need for automation and ergonomic material handling has never been greater. FlexQube's modular platform is attracting strong interest across both manufacturing and e-commerce logistics. The combination of material presentation, material transport, and an integrated process perspective enables us to meet customer needs in a way few competitors can match.
It is certainly no coincidence that one of the world's largest companies, whose core competence is logistics, has found its way to a small company from Sweden. That says something about the relevance of our expertise and our offering. They know what they are looking for, and they have found it in FlexQube.
We now see how years of development work and perseverance are paying off. Our products, our organization, our knowledge, and our market strategy are working together better than ever. We enter the final stretch of 2025 with high energy, a clear direction, and an organization ready to scale up. FlexQube stands stronger than it has in a long time, and even though the company is celebrating fifteen years in the industry, it feels like we are only just getting started.
About FlexQube
FlexQube is a technology company headquartered in Gothenburg, Sweden with subsidiaries in USA, Mexico, Germany and England. FlexQube offers solutions for cart-based material handling using a patented modular concept. FlexQube develops and designs customized solutions for both robotic and mechanical cart logistics. Through the own developed and unique automation concept FlexQube can offer robust and self-driving robotic carts. FlexQube has more than 1200 customers in 40 countries with primary markets being North America and Europe.
FlexQube's customers can be found within the manufacturing industry, distribution- and warehousing. We represent some of the most successful companies in the world with a significant share being represented on the Fortune 500 list. These companies exist within automotive, electric vehicle manufacturing, online retail, heavy-duty trucks, industrial automation and retail logistics.
For more information, contact:
CEO, Anders Fogelberg
anders.fogelberg@flexqube.com
+46 702 86 06 74
This information is information that FlexQube 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 2025-11-11 08:00 CET.
The share (FLEXQ) is traded on Nasdaq First North. FNCA Sweden AB is the company's Certified Adviser. Read more at www.flexqube.com