Highlights from the third quarter 2025:

All-time high recurring revenue annualized and stable profitability

  · Recurring revenue annualised increased by 4% y/y to NOK 340m, driven by 17%
growth in Advisory & Service
  · Net gross profit margin at 37%, up 2 ppt from third quarter last year
  · EBITA adj., at NOK 11.0m. affected by investments in efficiency improvements
ERP etc.


Solid commercial momentum continues

  · Agreed new agreement with Sykehuspartner in November, effective from 1
January 2026, for comprehensive management of clinical devices to all hospitals
in Helse Sør-Øst RHF
  · Signed a strategic partnership with Pradeo in November to deliver a combined
MDM and MTD solution for the European market
  · Signed final agreement with Fonua in November, with planned roll-out to the
first customers in Q4
  · The strategic partner agreement with Telia is now operational
  · Signed and launched an exciting partnership with welfare ISV Tellu

Sharpening strategic focus

  · Potential divestment of a solution area

"In the third quarter of 2025, Techstep maintained steady profitability and
demonstrated strong commercial momentum. Recurring revenue continued to rise and
ended the quarter on an all-time high, especially driven by our managed
services. The company achieved a notable improvement in its profit margins,
although adjusted EBITA was lower due to ongoing investments in efficiency, such
as ERP and DCOM. Techstep strengthened its market position through several
important new and renewed agreements