Second consecutive EBITDA-positive quarter.
The fourth quarter confirms Albert's structural reset. For the second consecutive quarter the Group delivered positive EBITDA, in line with communicated targets. This milestone demonstrates that Albert's focused SaaS model can deliver operational profitability.
Decisive actions strengthened financial stability
When I stepped into the role as CEO in late April, the priority was clear, to stabilise the financial position, restore focus and create a leaner, more market-driven organisation. During the year we simplified the Group, reduced costs and divested non-core operations with limited strategic fit. These actions have significantly strengthened liquidity, lowered risk exposure and improved the earnings capacity of the business.
Following the first EBITDA-positive quarter in Q3, we are proud to deliver a second consecutive positive quarter in Q4, as well as positive EBITDA for the full year. Reported EBIT continues to be affected by non-cash, acquisition-related amortisation and impairment charges linked to historical transactions, which do not impact cash flow.
Clear focus on adaptive mathematics
Albert is now a subscription-based EdTech group firmly focused on adaptive mathematics. This is our heritage, our strongest competitive position and the foundation for long-term value creation. Across both consumer and school segments, our platforms support personalised learning and measurable progress at scale. In addition, the Group includes a well established educational film business with recurring profitability, strong margins and a subscription model that contributes strongly to positive cash flow, particularly in the early part of the year.
Execution and readiness for growth
This phase is about disciplined execution and gearing the organisation for profitable growth. Our focus remains on refining operations, improving unit economics, reducing remaining cost drivers and automating manual processes to enable efficient scalability. Albert continues to be managed with the long-term objective of delivering sustainable positive EBITDA, while allowing for short-term quarterly variation driven by disciplined, return-based growth investments. With a stable financial foundation, clear strategic direction and a leaner organisation, Albert is positioned for the next stage of value creation.
Fredrik Bengtsson
CEO of Albert
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1 October- 31 December (Q4)
- Annual recurring revenue (ARR) from subscriptions was 133,395k (140,328k) SEK, which is a decrease of 5% compared to the previous year.
- Revenue from non-subscription products over the past four quarters amounted to 21,993k (38,174k) SEK, representing a decrease of 42% compared to the previous year.
- Invoiced sales for the quarter were 27,474k (37,812k) SEK, a decrease of 27% compared to the previous year.
- Net revenue amounted to 40,095k (44,741k) SEK, a decrease of 10% compared to the same period last year.
- EBITDA amounted to 2,184k (-8,413k) SEK.
- EBITA amounted to -819k (-12,438k) SEK.
- The result after financial items amounted to -10,832k (-22,243k) SEK.
- The result for the period amounted to -10,018k (-21,411k) SEK.
- Earnings per share amounted to -0.40 (-0.85) SEK, before and after dilution.
- Cash flow from current operations amounted to -8,691k (-12,788k) SEK.
- Cash and cash equivalents at the end of the period amounted to 42,422k (44,472k) SEK.
1 January- 31 December (FY)
- Annual recurring revenue (ARR) from subscriptions were 133,395k (140,328k) SEK, which is a decrease of 5% compared to the previous year.
- Revenue from non-subscription products over the past four quarters amounted to 21,993k (38,174k) SEK, representing a decrease of 42% compared to the previous year.
- Invoiced sales for the period were 155,985k (182,723k) SEK, a decrease of 15% compared to the previous year.
- Net revenue amounted to 161,083k (177,791k) SEK, a decrease of 9% compared to the same period last year.
- EBITDA amounted to 3,802k (-30,706k) SEK. Adjusted for non recurring items, EBITDA was -6,308k SEK.
- EBITA amounted to -8,770k (-45,984k) SEK.
- The result after financial items amounted to -66,207k (-113,666k) SEK.
- The result for the period amounted to -62,557k (-104,789k) SEK.
- Earnings per share amounted to -2.49 (-4.17) SEK, before and after dilution.
- Cash flow from current operations amounted to 8,822k (-26,915k) SEK.
- Cash and cash equivalents at the end of the period amounted to 42,422k (44,472k) SEK.
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Significant events in the fourth quarter of 2025
- Effective 1 October, Fredrik Bengtsson has been appointed permanent Chief Executive Officer. He has served as interim CEO since April 2025.
For additional information, please contact
Fredrik Bengtsson, CEO
Phone: +46 (0) 723 280 144
E-mail: fredrik@hejalbert.se
Erik Bergelin, CFO
Phone: +46 (0) 768 710 747
E-mail: erik@hejalbert.se
The company's certified adviser is DNB Carnegie Investment Bank AB (publ), +46 (0)8 588 685 70, certifiedadviser@dnbcarnegie.se.
About eEducation Albert AB (publ)
Albert Group is a leading European edtech group focused on personalised and joyful learning at home and in schools. The Group's SaaS based brands, Albert, Sumdog and Film & Skola offer curriculum aligned adaptive digital platforms, operate across core European markets and have served more than 10+ million learners to date. Albert is listed on Nasdaq First North Growth Market (ticker: ALBERT).
Read more at investors.hejalbert.se.
This information is information that eEducation Albert 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 2026-02-23 07:30 CET.
