Albert Posts 9.868 Million Krona Loss in Third Quarter as EBITDA Falls
Key Facts
Albert Group posted a net loss of 9.868 million Swedish krona in the third quarter of 2026, compared with a loss of 8.043 million krona in the same period a year earlier, according to the interim results report published by the company. Earnings per share were negative 0.39 krona, versus negative 0.32 krona a year earlier. The results showed that the group came nowhere near breaking even in the quarter, as EBITDA at continuing operations fell to 106,000 krona from 3.817 million krona. At group level, EBITDA was 146,000 krona, compared with 18.738 million krona in the third quarter of 2025. This came as revenue at continuing operations remained broadly stable, highlighting a widening gap between sales performance and profitability.
The group’s net revenue was 36.698 million krona in the period from July to September, down 10% from 40.789 million krona a year earlier. This total reflects the impact of activities no longer classified as continuing operations; net revenue at continuing operations was 36.698 million krona, compared with 36.364 million krona in the year-earlier period. Billed sales at these operations rose 3% to 34.590 million krona from 33.577 million. On a quarterly basis in 2026, revenue at continuing operations increased from 32.3 million krona in the first quarter to 35.0 million in the second quarter and then 36.7 million in the third quarter. But nearly stable revenue did not prevent EBITDA from falling, leaving the net loss above its year-earlier level.
Annual recurring revenue at continuing operations was 133.997 million krona at the end of the quarter, down 2% from 137.208 million a year earlier, despite rising by 8.4 million krona during the quarter to 134.0 million, according to management’s account. The metric puts growth in billed sales in the context of the subscription base, which remained below the year-earlier level. For the first nine months of 2026, revenue at continuing operations was 103.238 million krona, compared with 106.633 million krona in the corresponding period. Over the same period, the EBITDA loss at these operations narrowed to 5.726 million krona from 6.964 million. This means the improvement in the EBITDA loss since the start of the year was not reflected in the third-quarter result alone.
Management said marketing was the single largest increase in the group’s cost base this year, alongside the launch of Sumdog in Welsh and the building of a team for a new project. Gross margin was 73% in the quarter, which the company described as stable. Sumdog launched its Welsh-language version in September, and Albert said it had signed framework agreements with five Welsh local authorities. The company named Swansea, Cardiff, Caerphilly, Wrexham and Neath Port Talbot among those agreements. Albert links part of the spending that weighed on earnings to this expansion, while continuing to invest in the new learning project.
Albert ended the quarter with cash and cash equivalents of 48.044 million krona, compared with 55.031 million at the end of the year-earlier period, and said it had no interest-bearing debt. The report described the fourth quarter as the company’s seasonally strongest, noting that trends that shifted during the third quarter are expected to continue into it. Albert also plans to launch an AI-powered learning platform in 2027, aimed at children aged 7 to 12, and funded internally. The company said it expects the first revenue to come from existing customers. The product launch is therefore part of the company’s plans for next year, while the fourth-quarter results remain the nearest point at which to assess whether seasonal improvement will keep pace with continued spending.