Nuscale Power earnings missed by $0.02, revenue fell short of estimates
Introduction & Market Context
Safeture AB (SFTR), a Swedish SaaS company specializing in Employee Risk & Crisis Management (ERCM), released its Q2 2025 interim report on July 18, 2025, revealing modest revenue growth amid ongoing currency challenges. The company, which provides solutions for medical and security assistance, faced what CEO Maya Hella described as a "challenging quarter" while highlighting "signs of increasing activities among partners."
The report comes as Safeture navigates a consolidating risk management landscape, with the CEO noting that several acquisitions in the space have created new opportunities for the company. Safeture’s stock closed at 5.85 SEK on July 17, 2025, and has experienced a 52-week range of 4.62 to 8.50 SEK.
As shown in the following title slide from the company’s presentation:
Quarterly Performance Highlights
Safeture reported operating revenue of 13,975 KSEK in Q2 2025, representing a modest 1% year-over-year growth, or 3.5% when excluding foreign exchange effects. The company’s Annual Recurring Revenue (ARR) declined by 2% to 55,754 KSEK, while EBIT fell to -376 KSEK, a decrease of 224 KSEK compared to the same period last year.
The company’s quarterly churn rate stood at 2.2%, with a yearly Net Revenue Retention (NRR) of 97%, indicating slight challenges in customer retention and expansion. Recurring revenue continued to represent 99% of total operating revenue, underscoring the stability of Safeture’s business model despite headwinds.
The following slide summarizes the key highlights for Q2 2025:
A more comprehensive view of Safeture’s performance over time reveals the trajectory of both revenue and EBIT, showing how the company had been making progress toward profitability before the recent setback:
Strategic Initiatives
In response to the challenging quarter, CEO Maya Hella outlined several strategic initiatives aimed at returning the company to growth and profitability. These include a revised pricing structure, a structured product roadmap with "Quarterly Product Waves," and an integrated go-to-market approach that aligns marketing, sales, and client development efforts.
The company has already launched two product waves: Documents, a secure solution for partner distribution, and City Risk Maps, which provides granular risk intelligence. A third wave featuring AI-powered automated user outreach is scheduled for release after the summer.
Safeture also announced leadership changes to drive its strategic initiatives forward, appointing Marcel Brandt as Chief Sales Officer and Maria Andersson as Chief Client Officer.
The CEO’s strategic outlook is detailed in the following slide:
A significant development during the quarter was Safeture’s two-year global partnership with Amadeus (BME:AMA), which integrates Safeture’s solutions into the Amadeus Cytric Connect App Center, potentially expanding the company’s reach to Amadeus’ global customer base.
Detailed Financial Analysis
Safeture’s financial performance shows the impact of foreign exchange developments, which continued to put pressure on revenue. The company adjusted its ARR projection downward by another 1,500 KSEK in Q2 due to the continued weakening of foreign currencies including USD, EUR, and GBP.
The following chart illustrates the company’s revenue trends over the past ten quarters:
While there were some favorable foreign exchange effects on the cost of sales, these were not sufficient to fully offset the negative impact on revenue. This contributed to the decline in EBIT for the quarter, as shown in the margins and results analysis:
The company’s ARR development shows the base and growth/decline over time, with 89% of new ARR order value during Q2 originating from the partner network:
As of June 30, 2025, Safeture reported cash in the bank of 25,775 KSEK, with Q2 investments amounting to 2,372 KSEK, primarily consisting of capitalized platform development costs. The company’s solidity stood at 46%, down from 53% in the corresponding quarter last year.
Forward-Looking Statements
Despite the challenging quarter, Safeture’s management expressed optimism about future prospects, particularly regarding opportunities arising from consolidation in the risk management space. The company is focusing on returning to positive Net Revenue Retention through its revised pricing structure and product innovation strategy.
The partnership with Amadeus represents a significant opportunity for expansion, leveraging Amadeus’ global customer base to drive growth. Additionally, the company’s focus on its partner network, which generated 89% of new ARR in Q2, suggests a continued emphasis on indirect sales channels.
Looking ahead, Safeture’s "Quarterly Product Waves" strategy indicates a commitment to continuous innovation, with the upcoming AI-powered feature for automated user outreach potentially enhancing the company’s value proposition in the competitive ERCM market.
The company’s key financial metrics and trends over time provide context for evaluating its forward trajectory:
While Safeture faces near-term challenges including foreign exchange pressures and customer retention, its strategic initiatives and partnerships position it to potentially capitalize on industry consolidation and return to a growth trajectory in coming quarters.
Full presentation:
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