Sweden's Checkin.com Q2 revenue falls on customer exits
Sweden's Checkin.com Q2 revenue falls on customer exits
Overview
Sweden digital ID firm's Q2 revenue fell 27% yr/yr, mainly due to iGaming customer exits
Gross margin improved to 72% and EBITDA margin rose to 20% despite lower revenue
Company ended Q2 debt-free with SEK 17.3 mln in cash after share issue and loan repayment
Outlook
Company to re-build sales organization in H2 2026, with expected traction during 2027
Checkin.com sees growing market demand due to stricter regulations and AI-generated fraud threats
Company focus shifts to commercial execution and expanding into new customer segments
Result Drivers
IGAMING CUSTOMER EXITS - Co said revenue decline was mainly due to customers in iGaming exiting markets or being acquired following regulatory changes
COST SAVINGS - Co said improved margins resulted from cost savings that have now taken full effect
NEW SEGMENTS - Co signed agreements with new customers in segments outside iGaming, showing product appeal beyond core market
Company press release: ID:nMFN2LWK0l
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| SEK 13.22 mln |
|
Q2 EBITDA |
| SEK 2.65 mln |
|
Q2 Gross Profit |
| SEK 9.48 mln |
|
Q2 Operating Cash Flow |
| SEK 2.20 mln |
|
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Aug 17 - Finland's Nitro Games swings to profit in Q2 on loan waiver, cost cuts
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)