Checkin.com Group Q2 2026: Debt-free with 20% EBITDA margin - shifting towards commercial growth

A strengthened balance sheet and MSEK 17.3 in cash provide a stable platform for building the sales organization.

Net revenue decreased to KSEK 13,221 (18,103) which corresponds to a growth of -27 (-11)%.

Gross profit for the period amounted to KSEK 9,479 (12,681) with a margin of 72 (70)%.

EBITDA for the period amounted to KSEK 2,649 (3,113) with a margin of 20 (17)%.

Cash flow from operating activities amounted to KSEK 2,197 (1,568).

Cash and cash equivalents amounted to KSEK 17,326 (19,998).

CEO letter from the report:

Financial discipline against the wind and commercial focus
This is my second CEO letter since taking office in late April. After my first full quarter at the helm, my view of Checkin.com has been reinforced: we have a genuinely valuable core technical competence, a scalable business model, and a market driven by strong structural forces. At the same time, the second quarter of the year reflects the reality we are in—a phase where we are navigating historic headwinds with strict financial discipline, while shifting the company toward commercial execution.
Q2: Stable base, but insufficient growth
Net revenue for the second quarter amounted to MSEK 13.2, representing an 8% decrease compared to the first quarter. Let me be completely direct: we are not satisfied with this performance. A large part of the decrease is explained by external events in our historically largest vertical, iGaming – primarily customers being acquired or choosing to exit individual geographic markets due to changes in local regulations. It is a clear reminder of the vulnerability of our existing customer concentration and the consequences of a sales engine that has not been sufficiently active.

At the same time, Q2 demonstrates the underlying strength and profitability potential of our business model. Despite lower revenues, we delivered a gross margin of 72% and an EBITDA margin of 20% (up from 17% in the corresponding period last year). The cost savings implemented have taken full effect and show that we have good control over our cost base.

Thanks to the directed share issue in June, through which we raised MSEK 7.5 net for the company, as well as a positive operational cash flow, we ended the quarter with MSEK 17.3 in cash and cash equivalents. During the quarter, we also fully amortized our bank loans. Checkin.com is now a completely debt-free company with a secure financial platform. Financial and operational consolidation is well underway, and we continue to optimize operations as we strengthen our commercial structure.

"Fewer things better" – a pure use-case focus
When I spoke in the previous report about the importance of "doing fewer things better," it was about discipline and prioritization. Our analysis over the spring has solidified: our focus should not be about which industries we target, but about what specific problem we solve. Checkin.com is fundamentally a use-case-focused company.
We solve a universal and business-critical problem for digital services: verifying who a person actually is in real time, with full regulatory compliance for complex jurisdictions, without degrading end-user conversion. That job is exactly the same whether the customer operates in iGaming, travel bookings, e-health, or mobility services.
During the quarter, we confirmed this picture in practice. We signed agreements with new customers in completely new segments – without dedicated sales or marketing resources aimed at those segments. They bought our standard product because it solved their specific needs right "out of the box." This shows that our product has a natural pull far outside our historic core market, without us needing to build complicated and expensive custom solutions. 

Market tailwinds and the way forward 
The need for regulatory identity verification and compliance is not an optional investment for our customers – it is legally mandated infrastructure. The overall market is growing rapidly, accelerated by stricter mandatory regulations such as eIDAS 2.0 and updated AML directives in Europe, combined with the increasing threat of AI-generated fraud. Demand is created by regulators and market development; our task is to ensure we are correctly positioned to capture it.

We are now putting the raised capital to work during the second half of the year to build up our sales organization from scratch. Our entire focus is on commercial execution – deepening relationships with existing customers and methodically establishing an outbound revenue machine, with expected traction and effect during 2027.

Pivoting a company while maintaining high delivery quality requires hard daily work. For that, I want to extend a warm and sincere thank you to the entire team.

We emerge from the second quarter with a strong financial and operational backbone. The balance sheet is secured, the cost structure is right, and the product has proven its appeal in new markets. The financial prerequisites are now in place—our focus now shifts to disciplined commercial execution.

Arif Rehman
CEO, Checkin.com Group

The full quarterly report is now published and available on:
https://group.checkin.com/investors/reports/

Webcast (Swedish)
Investors, analysts and journalists are invited to a webcast 2025-08-20 15:00 CEST where the company's CEO and CFO will present the report, followed by a Q&A session. The webcast is available through this link: https://www.finwire.tv/webcast/checkin-com/q2-2026/

This information is information that Checkin.com Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-08-20 06:00 CEST.

For further information, please contact:
Martin Bäuml, CFO and head of investor relations, ir@checkin.com

Certified Adviser
Checkin.com Group’s Certified Adviser is DNB Carnegie Investment Bank (publ).
Phone: +46 (0)8 588 68 570
E-mail: certifiedadviser@carnegie.se

About Checkin.com Group

Checkin.com Group, founded in 2017, specializes in creating secure digital environments by helping businesses establish who is on the other side of the screen. The company’s advanced KYC solutions streamline user registration, identification and login processes while also ensuring that the Enterprise and SME customers meet strict regulatory standards. This is achieved through a variety of advanced technologies that in real time verify user identities, assess ages, and scan official documents with high accuracy. The software also features biometric technologies to provide an extra layer of fraud prevention while enabling seamless experiences for end-users. 

By offering a smooth and secure experience for users and flexibility and customer-focus for partners, the software drives both user trust and business growth. The Group is headquartered in Stockholm, Sweden, but operates and recruits globally to attract world-leading talent.

Checkin.com Group’s share is since 2021 listed on Nasdaq First North Growth Market under the trading symbol "CHECK”. The company creates shareholder value and growth through organic growth and strategic acquisitions. 

For more information about the company visit: https://group.checkin.com/investors/