Westpay's first quarter of 2026 confirms continued momentum from the 2025 turnaround - characterized by higher-quality growth, stronger operating profitability, and improved cash generation. A growing recurring revenue base, a more resilient platform, and the recently announced strategic partnership with a leading European acquirer, further strengthen Westpay's position as a leading Nordic provider of acquirer-independent payment solutions.
Significant achievements include:
- Higher-quality growth and stronger profitability - Net sales +5%, EBITDA +30%, and EBIT +298%, driven by recurring revenue scalability and continued cost discipline. The Net earnings were MSEK 0.1 (0.8), mainly impacted by adverse currency effects from a weaker SEK versus USD
- Recurring revenues at 68% of total sales - Recurring revenues grew to MSEK 12.8 (+10%), and ARR reached MSEK 51.1 (+10%), confirming the strength and predictability of Westpay's SaaS-based business model.
- Strengthened operating cash flow - Cash flow from operating activities improved by 30% to MSEK 7.3, reflecting both earnings improvement and disciplined working capital management.
- Strengthened balance sheet - Equity ratio improved to 41% (18%), reflecting the company's significantly stronger financial position year-on-year.
- Strategic partnership - Westpay entered into a strategic partnership with a leading European card acquirer. The agreement enables Westpay to route payment transactions directly to the acquirer, offer Dynamic Currency Conversion (DCC) to its merchant base, and jointly pursue larger merchant opportunities across addressed markets. Further details, including the identity of the partner, will be communicated in a separate press release on 30 April 2026.
- Resilience as a growing buying criterion - Continued execution on offline capability, Swedish redundancy, and acquirer independence - increasingly recognised by customers and partners as a key differentiator in an unstable market environment.
- Early action in a tighter hardware market - Mitigation work including framework agreements with key suppliers, broader sourcing, buffer planning, and closer forecasting strengthens Westpay's ability to maintain delivery capability amid the ongoing global memory component shortage.
FINANCIAL SUMMARY
The first quarter 2026 (the first quarter 2025)
- Net sales totalled MSEK 18.7 (17.8), a change of MSEK +1.0 / +5%
- EBITDA was MSEK 3.6 (2.8), a change of MSEK +0.8 / +30%
- EBIT was MSEK 1.2 (0.3), a change of MSEK +0.9 / +298%
- Net earnings were MSEK 0.1 (0.8), a change of MSEK -0.6 / -83%
- Net earnings per share amounted to SEK 0.00 (0.01), a change of SEK -0.01
- ARR amounted to MSEK 51.1 (46.5), a change of MSEK +4.6 / +10%
- Recurring revenues made up 68% (65) of net sales
For additional information, please contact:
Sten Karlsson, CEO Westpay AB
Mobile: +46 70-555 6065
Email: sten.karlsson@westpay.se
Redeye Nordic Growth AB is the company's Certified Adviser.
This information is information that Westpay 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 2026-04-29 07:00 CEST.
About Westpay
Westpay is a full-service Fintech- and Payment Solution Provider that offers solutions that simplify payments and amplifies the overall customer experience. If you represent a restaurant, hotel, store, in-store, or e-commerce, and looking for a payment solution that adds value, we can help you all the way. The company is represented globally, headquartered in Stockholm, Sweden and is listed on Nasdaq First North Growth Market.
Learn more at: westpay.se
