Acconeer Q4 2025, Summary

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Acconeer Year-End Report 2025: Revenue Growth Accelerates Despite Margin Pressures

Swedish radar sensor manufacturer Acconeer AB has reported strong revenue growth in its fourth quarter and full-year 2025 results, with net sales increasing 67% year-over-year in Q4, though profitability remains challenged by inventory adjustments and operational costs.

Fourth Quarter Performance

The company delivered its second consecutive record revenue quarter, with net sales reaching SEK 17.2 million (kSEK 17,185) compared to SEK 10.3 million in Q4 2024, representing a 67% increase, or 91% on a constant currency basis. However, the gross margin on sales of goods compressed to 35% from 40% in the prior year period, impacted by:

  • Inventory write-downs of SEK 1.8 million

  • Unfavorable product mix

  • Exchange rate fluctuations (most sales are USD-denominated)

  • Increased component costs due to shortages

The operating loss narrowed significantly to kSEK -6,170 from kSEK -8,913, representing an improved operating margin of -36% versus -87% in the prior year. Loss after taxes was kSEK -5,668 (SEK -0.08 per share) compared to kSEK -7,992 (SEK -0.13 per share) in Q4 2024.

During the quarter, Acconeer shipped 199,000 sensors and a record 67,000 modules, while adding 14 new customer launches.

Cash flow from operating activities in Q4 was kSEK -3,763.

Full Year 2025 Results

For the full year, net sales increased 13% to kSEK 57,873 from kSEK 51,320 in 2024. The gross margin on sales of goods was 51%, down from 56% in the previous year. Key full-year metrics included:

  • Net loss after taxes of kSEK -20,149, improved from kSEK -31,479 in 2024

  • Cash and cash equivalents of kSEK 43,372 at year-end, down from kSEK 53,757

Business Segment Performance

The company showed mixed results across its business segments:

Non-Automotive Business: Sales outside the automotive industry reached SEK 41.8 million for 2025, a robust 73% increase compared to 2024. CEO Ted Hansson noted the company is "starting to see results from the focused work in our product areas of level measurement, goods monitoring and presence detection."

Automotive Business: Automotive sales declined 57% to SEK 7.6 million in 2025 from 2024 levels. However, the company experienced strong momentum in Q4, including the first Toyota model launch with Acconeer's kick sensor, design wins with two new Japanese automakers, and the first volume order for the next-generation A212 sensor. Management expects strong growth in automotive in 2026, with order coverage as of February 13, 2026 already exceeding all of 2025 automotive sales.

Major Orders and Customer Wins

Acconeer secured numerous significant orders throughout Q4 2025 and early 2026:

  • USD 260,000 order from Nexty Electronics for A212 sensors for European premium automotive applications

  • USD 230,000 order from Future Electronics for XM132 radar modules

  • USD 183,000 order from BEYD for A111 and A121 sensors

  • USD 150,000 order from Nexty Electronics for automotive production

  • Design win worth SEK 5 million for occupant detection in public transport

  • First volume order for next-generation A212 radar sensor (USD 120,000)

The company has added 14 new customer launches in Q4 2025 alone across IoT, industrial, consumer electronics, and automotive sectors.

Next-Generation A212 Sensor Progress

A key highlight was progress on Acconeer's next-generation A2 sensor family. The company received its first volume orders for the A212 sensor, obtained its first non-automotive design win with a Korean customer for vital signs measurement, and worked with partners to complete production capacity to meet expected 2026 volume demand. The company will begin amortization of A2 development costs in 2026 as the product reaches the market.

Capital Raising and Financial Position

To strengthen its financial position, Acconeer announced a directed share issue to Eiffel Investment Group of approximately SEK 31.7 million (resolved January 30, 2026, subject to EGM approval).

As of December 31, 2025, total equity stood at kSEK 256,474 with an equity ratio of 93%. The number of shares increased to 73,121,532 from 62,154,827 a year earlier.

Investments and Development

Acconeer continued significant investments in development:

  • Cumulative book value of capitalized development costs reached kSEK 138,182, primarily related to the A2 sensor

  • During 2025, kSEK 33,842 (68% of total R&D costs) were capitalized, down from 69% in 2024 as A2 nears commercialization

  • The company holds 13 patent families including 26 granted patents and 9 pending applications

  • Average headcount decreased to 47 employees from 55 in the prior year

Financial Targets

Acconeer maintains ambitious financial targets:

  • First EBIT positive quarter in 2025 (achieved in Q3 2025)

  • First cash flow positive quarter during 2026

  • Revenues exceeding SEK 300 million in 2027

  • Long-term EBIT margin of at least 25%

Management Commentary

CEO Ted Hansson expressed satisfaction with the quarter's performance: "I am pleased and proud that Eiffel Investment Group, an established institutional investor, has chosen to invest in Acconeer via a directed new share issue of SEK 31.7 million. With this, we strengthen our shareholder base and are well equipped to selectively invest to capture the great opportunities we see with our new sensor."

He highlighted the validation from customer engagement: "Several customers have completed evaluations of A212 with positive results, which means that we can now compete for commercial projects in all these areas."

Outlook

While the company faces near-term margin pressures from inventory adjustments and currency headwinds, the underlying business momentum appears positive with accelerating revenue growth, improving operating leverage, and strong order intake particularly in automotive. The successful commercialization of the A212 next-generation sensor and achievement of cash flow positivity in 2026 will be key milestones for investors to monitor.

The expanded distribution agreement with Future Electronics and the influx of institutional capital provide additional resources to support the company's growth trajectory toward its SEK 300 million revenue target for 2027.

This summary was written by our AI Analyst Tim! If you find something that does not seem right let us know and we will correct him.