Oslo, 24 October 2025: Itera reports revenue growth of 7% and an improved
operating margin of 3.8% in the third quarter of 2025. The results reflect a
higher billing ratio, strong growth within Cloud & Application Services, and an
expanded use of artificial intelligence both internally and in customer
deliveries. 

Itera reports operating revenue of NOK 196.3 million (NOK 184.2 million) for the
third quarter of 2025, which represents an increase of 7%. 

- In the third quarter of 2025, we delivered an improvement in financial
performance, reflecting the effect of our measures to adapt to a weak market,
says CEO Arne Mjøs. 

The operating result before depreciation and amortisation (EBITDA) for the
quarter increased by 87% to NOK 15.5 million (NOK 8.3 million). The EBITDA
margin was 7.9%, up from 4.5% in the same quarter of last year.

The operating result (EBIT) for the third quarter was a profit of NOK 7.6
million (NOK 0.1 million). The EBIT margin increased to 3.8% compared to 0.1% in
the same quarter of last year.

- Our Cloud & Application Services have become a key growth engine, delivering
29% revenue growth in the quarter and 21% year-to-date. Increasingly recurring
revenues and higher productivity through automation and artificial intelligence
provide us with a solid foundation for further growth, notes Arne Mjøs.

The third quarter also saw continued strong inflow of new customers. Customers
acquired in the past 12 months now account for 13% of total revenue. Many of
these new customers are within AI services, giving Itera a broader and more
diversified customer base for further growth.

Cash flow from operations was NOK -7 million (NOK 7 million) for the quarter and
NOK 54 million (NOK 86 million) for the last twelve months. The decline in cash
flow is mainly due to increased revenue, which has temporarily affected working
capital. This gives an EBITDA-to-cash conversion rate of 74% (93%). 	
	
The Board has approved an additional dividend of NOK 0.10 per share, to be paid
on 9 
December 2025. The total dividend for the year will be NOK 0.30 per share, in
line with the company's established dividend policy.

Itera's headcount at the end of the third quarter of 2025 was 705 as compared to
699 at the end of the third quarter of 2024.




For more information:
Arne Mjøs, CEO | arne.mjos@itera.com | +47 905 23 172
Bent Hammer, CFO | bent.hammer@itera.com | +47 982 15 497

About Itera 
Itera is a dynamic team of business advisors, designers, and technologists. Our
shared mission? To benefit society by developing digital products and services
that deliver value and build trust.
Working from our 14 offices in the Nordics and Central and Eastern Europe, we
serve customers in 20 countries worldwide. Itera is a listed company on the Oslo
Stock Exchange under the ticker ITERA.