25% EBITDA margin and declining revenue, while the transformation moves from analysis to execution
Net revenue decreased to KSEK 12,563 (17,436) which corresponds to a growth of -28 (-6)%.
Gross profit for the period amounted to KSEK 8,896 (12,691) with a margin of 71 (73)%.
EBITDA for the period amounted to KSEK 3,169 (6,044) with a margin of 25 (35)%.
Cash flow from operating activities amounted to KSEK 658 (286).
Cash and cash equivalents amounted to KSEK 13 600 (14 261).
CEO letter from the report:
From Analysis to Execution
Since joining as CEO in May, the focus has been on conducting a thorough analysis of the company's operations, historical bottlenecks, and future potential. This analysis resulted in a new overarching strategy and an updated Target Operating Model, which was approved by the Board at the end of August. The rollout and operational execution consequently began in September.
Internal Structure and Order First
To translate the strategy into practice, it has been structured into several concrete initiatives across the entire organization. Because the rollout has just begun, the first phase of execution focuses on establishing internal structure and order. We have realigned company governance around five core KPIs, with operational self-sufficiency as our primary guiding star, and introduced disciplined R&D governance to more strictly prioritize development resources toward strategic value and commercial customer needs. Cost discipline must be embedded in our DNA, and finding smarter ways to work through incremental adjustments should be second nature. As part of this, we are currently evaluating, through a dedicated initiative, how to incorporate AI into our day-to-day operations to accelerate production pace and everyday efficiency.
"Back to the Roots" - The Full Onboarding Journey
On the product side, the transformation is about reconnecting with Checkin's original DNA. The company was founded to optimize onboarding flows and maximize end-user conversion. Following the acquisition of our ID verification capabilities, however, the market increasingly came to associate us purely with standalone ID verification - a mere commodity. Through the "One Stack" initiative, we are now returning to our roots: uniting Signup and ID Verification on a single platform to once again deliver a complete, frictionless onboarding experience. At the same time, we intend to broaden our offering from one-off registration checks to Lifecycle Compliance & Ongoing KYC (continuous re-verification and risk monitoring), building long-term recurring license revenue. Checkin.com is far more than an IDV platform. What we provide is an orchestration engine that embeds frictionless trust at every stage - from onboarding to continuous compliance - driving next-generation conversion for digital companies operating in regulated industries.
Horizontal Strategy Validated by the Market
A key component of our new strategy is shifting focus from individual verticals to a broad, horizontal use-case model, which we touched upon in the previous quarterly report. The market reality quickly confirmed that this was the right choice. A recent example is the extensive licensing and regulatory changes in Brazil, where we historically conducted business. This type of industry and market volatility provides the clearest confirmation of why our horizontal strategy is imperative: our business cannot rise or fall on individual verticals or local regulatory shifts.
The Commercial Engine in Operation
In parallel with our product and structural initiatives, we have now pressed the start button on our commercial machinery. We are building our outbound organization from the ground up with new, dedicated sales talent recruited in early October. They are currently undergoing comprehensive onboarding, and with a natural ramp-up period, it will take some time before this investment bears full fruit. Simultaneously, we have introduced the "Business Rules" initiative to harmonize and streamline historically fragmented contracts through standardized price lists and packaging, as well as longer contract terms to increase predictability. New pipeline discipline is now established within the CRM, and the new pricing and contracting models are being applied in ongoing customer and renewal discussions. To ensure that closed deals translate into revenue more quickly, we have also established the Customer Enablement function, shortening the runway from signed contract to live volume.
Building Phase in 2026 with sights set on 2027
The quarterly net revenues of MSEK 12.6 reflect the challenges characterizing this turnaround. The ripple effects of the difficult period we have been navigating are still being felt and will likely persist for some time, until the impact of taking the right measures in the right order takes full effect. Encouragingly, the core business remains strong - we successfully defended a gross margin above 70% and an EBITDA margin exceeding 25%, despite declining revenues.
As previously communicated, the second half of 2026 represents our building phase. We are putting in the rigorous, methodical work required to build a sustainable commercial engine, with our sights firmly set on measurable improvements in revenue growth during 2027.
Arif Rehman
CEO, Checkin.com Group
The full quarterly report is now published and available on:
https://group.checkin.com/investors/reports/
Webcast (Swedish)
Investors, analysts and journalists are invited to a webcast 2026-11-05 15:00 CET where the company's CEO and CFO will present the report, followed by a Q&A session. The webcast is available through this link: https://www.finwire.tv/webcast/checkin-com/q3-2026/
This information is information that Checkin.com Group 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 2026-11-05 06:00 CET.
For further information, please contact:
Martin Bäuml, CFO and head of investor relations, ir@checkin.com
Certified Adviser
Checkin.com Group's Certified Adviser is DNB Carnegie Investment Bank (publ).
Phone: +46 (0)8 588 68 570
E-mail: certifiedadviser@carnegie.se
About Checkin.com Group
Checkin.com Group, founded in 2017, specializes in creating secure digital environments by helping businesses establish who is on the other side of the screen. The company's advanced KYC solutions streamline user registration, identification and login processes while also ensuring that the Enterprise and SME customers meet strict regulatory standards. This is achieved through a variety of advanced technologies that in real time verify user identities, assess ages, and scan official documents with high accuracy. The software also features biometric technologies to provide an extra layer of fraud prevention while enabling seamless experiences for end-users.
By offering a smooth and secure experience for users and flexibility and customer-focus for partners, the software drives both user trust and business growth. The Group is headquartered in Stockholm, Sweden, but operates and recruits globally to attract world-leading talent.
Checkin.com Group's share is since 2021 listed on Nasdaq First North Growth Market under the trading symbol "CHECK". The company creates shareholder value and growth through organic growth and strategic acquisitions.
For more information about the company visit: https://group.checkin.com/investors/
