January – March 2026 (TSEK)

· Net revenue growth pro forma*: + 21%
· Reported net revenue: 139,313
· Reported EBITDA: +3,973
· Reported EBITDA margin + 3%
 
* Pro forma figures include all acquisitions as if consolidated from January 1, 2025, with full-quarter effect for acquisitions completed during Q1 2026. Comparison period: January – March 2025.

The numbers above have not been audited and are presented to give an indicative performance of the group.

Link to presentation: Done.ai Presentation

Dear Shareholders,
The first quarter of 2026 was a strong quarter for Done.ai with reported revenue reaching SEK 139 million. On a pro forma basis, which includes all our acquisitions and gives the most comparable view of the underlying business, revenues grew 21% organically to SEK 141 million from SEK 117 million in Q1 2025, with a positive EBITDA of SEK 4 million.
 
We delivered a positive EBITDA while investing across product development and organisation, and before any meaningful cost and efficiency synergy effects. The organisation is proving it can grow, invest, and stay financially disciplined at the same time.
 
Done.ai is only one year old, and it is worth noting that a year ago our reported quarterly revenue stood at SEK 10 million. The Q1 results are a strong signal that the organisation we have built is performing and that the path to our 2028 target of SEK 1 billion is real.
 
While our cross-sell activities are starting to contribute to results, what makes these numbers particularly encouraging is that the full cross-sell potential of our customer network and our most significant near term product launches are still ahead of us. Done CRM, BNPL, Card and Spend Management which are launched this year are yet to contribute at scale.
 
We recently presented our financial targets for 2028 of reaching SEK 1 billion in revenues and a 20% underlying EBITDA margin. Q1 is a strong opening against those targets, and we enter the rest of the year with clear conviction and intention to execute.

Our commercial agenda for 2026 is structured around three priorities.
 
• Develop and scale Done OS, our unified business operating system that makes every new product we add compoundingly more valuable.
 
• Launch and activate our software, AI and financial services products directly into our existing customer base.
 
• Convert our network of 45,000 customers into growing revenue through cross-selling and synergies, leveraging both our direct customer relationships and our exclusive distribution agreement with Finago.
 
Done OS is live as our foundational platform layer. One environment, single sign-on, one place where operations, customer relationships and financial services connect. Every product we launch from here builds on that foundation. Done Accounting is live and actively converting customers across the Nordic market, serving both as a growing revenue line and as a high-quality entry point into the broader platform. Done CRM is approaching commercial launch, the first software module in Done OS and the starting point for systematic cross-selling into our customer base. Done BNPL is approaching launch, delivering flexible payment terms natively through our distribution channels with no credit risk or balance sheet exposure for Done.ai. Done Card and Spend Management follows later in the year. Together these products represent the most significant near-term revenue opportunity in our roadmap, against a customer base and distribution infrastructure we already own.
 
What gives me the most confidence looking ahead is the compounding logic of the platform itself. Every customer that joins Done OS, every transaction processed and every interaction captured strengthens the AI layer that runs underneath all of it. Over time our products get smarter, automation improves, and the value we can offer each customer in our network increases. That is the structural advantage of Done.ai that grows with scale, and we are building it deliberately.
 
The ambition is clear, the plan is in place, and we are on track toward SEK 1 billion by 2028.
 
Sincerely,

Staffan Herbst
CEO, Done.ai Group