Pro Forma July - September 2025 * (SEK 000s)
· Consolidated net sales: 85,976
· EBITDA: 5,407
· EBITDA-margin: 6%
· EBIT before acquisition-related amortisation: 2,991 **
Reported July - September 2025 (SEK 000s)
· Organic net sales increase: 20% YoY ***
· Consolidated net sales: 83,127
· EBITDA: 5,019
· EBIT before acquisition-related amortisation: 2,607 **
· Operating profit, EBIT: -22,952
· Profit after tax: -22,824
* The pro forma figures for July - September 2025 includes the performance of the acquisitions made to date. Numbers are presented without any impact of synergies or integration effects.
** Excluding amortisation of acquisition-related intangible assets, e.g. goodwill, customer relationships, technology, identified in the purchase price allocation in accordance with the K3 accounting standard.
*** Comparison is made against 2024 figures excluding the divested ERP division and current year acquisitions.
The numbers above have not been audited and are presented to give an indicative performance of the group.
CEO Comment
Dear Shareholders,
When we embarked on the Done.ai journey this year, we were coming out of a major transition in our company's history. The divestment of our ERP division, 24SevenOffice, to KKR for an enterprise value of SEK 2.4 billion marked the end of one chapter and the beginning of another. We have always been early adopters of technology, and today we are embracing the rapid development of AI to build the kind of intelligent business platform we, as founders and operators, have always longed for. Our mission is to make business operations simpler, smarter and more connected.
We entered this new phase with a strengthened balance sheet and a conviction that the next decade of business systems will be defined by intelligent platforms that connect data, processes and workflows across the entire business. At the start of the year, Done.ai was a company with around SEK 30 million in annual revenues and 15 employees. We knew that distribution and early scale would be essential, which is why we focused our first phase on acquiring talent, technology, customer bases and capabilities, while securing an exclusive long-term fintech distribution agreement with 24SevenOffice, now rebranded to Finago.
As we report the third quarter of 2025, I can say with confidence that we are delivering on phase one. Through 12 acquisitions, we now directly serve more than 15,000 customers, operate with 275 employees and have a strong distribution footprint through our exclusive fintech partnership with Finago (former 24SevenOffice). This scale and reach form the foundation for the next phase of our journey.
This transformation is also reflected in our financial performance. Done.ai reached its target of profitable EBITDA growth, delivering revenues of SEK 83 million and a positive EBITDA of SEK 5 million. On a pro forma basis, including all acquisitions completed to date, revenues amounted to SEK 86 million for the quarter and SEK 287 million year to date, before any integration synergies or cross-selling effects have begun to materialise. Compared to the third quarter of 2024, revenues grew more than tenfold, demonstrating the strength of our platform strategy and the increasing scale of the Done.ai Group. These results were achieved despite the seasonal effects typically seen in the third quarter, when activity levels in the Nordic SME segment are consistently lower during the summer months, impacting both software usage and transaction volumes.
Done.ai's financial position remains strong, with solid liquidity and an equity ratio of 70%. This provides a robust foundation for continued product development, operational integration and selective strategic acquisitions aligned with our long-term one-stop-shop strategy.
Product and Strategic Highlights
Our investment services division, Done Investments, continues to show momentum. Since acquiring the Investment-as-a-Service platform in April, Assets under Administration have under our active ownership grown by 40%, from SEK 6 billion in April to SEK 8.4 billion in October. This development reflects both new institutional partners and stable organic inflows and strengthens the long-term role of fintech in the Done.ai platform.
Within fintech, we continue to work on the first step of our embedded finance offering, a deferred payment solution that enables invoice-based Buy Now, Pay Later functionality for their customers. The product remains an important part of our ambition to improve liquidity for SMEs. Additional capabilities within card and spend management are progressing in a controlled and deliberate manner to ensure long-term scalability and compliance.
We have accelerated the development of our Sales CRM, and progress continues to be strong. The system will connect sales, finance and operational data in one integrated workflow and is expected to become a key driver of cross-product adoption across the Group.
Our AI capabilities remain central to our long-term vision. At the core of this work is the Done Knowledge Graph, the intelligence layer that connects the entire platform. Every business we connect strengthens this network, which becomes smarter with every transaction, invoice and customer interaction. The Knowledge Graph ties financial, operational and customer data into one coherent structure, enabling AI features that can deliver real-time insights, recommendations and, over time, fully automated workflows. It represents the foundation for how we intend to redefine business systems for SMEs.
Outlook
As we move into the final quarter of 2025, Done.ai stands stronger than ever with a scalable platform, a diversified product portfolio and a disciplined focus on profitability. Integration across the Group is progressing and we expect to begin realising efficiency gains and margin improvements during 2026 as synergies are gradually unlocked. These synergies will come from aligning our distribution engine, strengthening our commercial capabilities and increasing cross-sell and upsell across our growing customer base.
With distribution through Finago and growing base of direct customers, we now have the reach needed to bring both software and fintech products to market at scale. Every new customer entering the Done.ai ecosystem strengthens this flywheel: more clients create more opportunities for software adoption, which in turn drives increased fintech usage. As our customer base and partner network expands, the Done Knowledge Graph grows with it, enabling smarter automation and a compounding data advantage over time.
We are building Done.ai to become the leading AI-driven business platform for SMEs in the Nordics, supported by a sustainable fintech offering that can scale across Europe over time. Achieving this will require continued operational discipline, a strong focus on customer value and careful prioritisation of our product roadmap. The foundation established in 2025 positions us well for the next phase, with a platform that becomes more intelligent, more connected and more valuable for every customer that joins.
Through steady execution and a clear strategic direction, we aim to create long-term value for our customers, employees and shareholders.
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 2025-11-20 07:30 CET.