Carasent AB (publ) (APXZF) Q3 2025 Earnings Call Transcript

Operator

Welcome to Carasent Q3 Report for 2025. [Operator Instructions]

Now I will hand the conference over to CEO, Daniel Ohman; and CFO, Svein Martin Bjornstad. Please go ahead.

Daniel Ohman
Chief Executive Officer

Good morning, and welcome to our presentation of the third quarter. We will start with me giving a general update, and then Svein Martin will continue with the financial update. First, just a quick overview of the business. As you all know, we are a fast-growing SaaS company focused on healthcare and especially EHR systems. We have 16% organic ARR growth in the quarter, more than 90% recurring revenue and a net revenue retention of 111%.

Looking a bit on the highlights of the third quarter, we have really good improvements, I think, and roughly according to plan. I’m especially happy about the EBITDAC improvement from minus SEK 2.2 million Q3 last year to SEK 12.2 million this year. This is based on continued growth and good cost control, and we have continued to run the business that way.

Looking at Webdoc, in the quarter, when we were working on their price models and also implementing a new CRM system, we were not totally happy with the old one. We identified a few customers that we invoiced the wrong way and that we have corrected, so it’s a hit of roughly SEK 1 million in the quarter and on an annualized basis, it will hit us roughly by SEK 2 million each year. And it’s never fun to take a step down in the recurring revenue. But what’s