Relevance Communication Nordic (RLVNC) investor relations material

Executive summary

• Revenue for Q1 2026 was 8,022 TSEK, down 14% year-over-year due to a significant drop in unique users following a Google core update in December 2025.

• EBITDA was negative at -802 TSEK, compared to 541 TSEK in Q1 2025.

• Net result after financial items was -2,585 TSEK, a deterioration from -1,416 TSEK year-over-year.

• Cost-saving measures implemented in early 2026 are expected to yield 2 MSEK in annual savings.

• Platform improvements led to reduced operational risk, lower costs, and improved site performance.

Financial highlights

• Operating expenses increased slightly to -9,105 TSEK (from -9,040 TSEK), with higher personnel costs offset by lower direct and external costs.

• Result per share was -0.10 SEK, compared to -0.06 SEK in Q1 2025.

• Cash at period end was 896 TSEK, up from 701 TSEK a year earlier.

• Equity ratio improved to 73% from 69% year-over-year.

Outlook and guidance

• Traffic and user numbers are recovering after the negative impact from Google's update, with April showing strong improvements.

• The company maintains its target of growth with positive EBITDA, supported by cost control and platform stability.