The consolidated financial statements for the financial year 2025 have been audited and are presented in the attached document entitled Consolidated Financial Statements 2025.
The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS). This represents a change from the accounting framework previously applied under the Icelandic Annual Accounts Act No. 3/2006 (Ársreikningalög nr. 3/2006). Accordingly, comparative financial information for 2024 has been restated and presented in accordance with IFRS to ensure consistency and comparability between periods.
All figures are presented in euros (EUR), whereas previous financial statements were presented in Icelandic krona (ISK). In addition, the share capital and share-related information are presented in euros (EUR) and number of shares.
The statements have been prepared in accordance with International Financial Reporting Standards (IFRS) which represents a change from the accounting framework previously applied under the Icelandic Annual Accounts Act No. 3/2006 (Ársreikningalög nr. 3/2006). Comparative financial information for 2024 has been restated and presented in accordance with IFRS to ensure consistency and comparability between periods.

Impact highlights

• The Klappir ecosystem comprised 4,547 business entities across 58 countries, representing an increase of 18.4% compared with 3,840 entities in 2024.
• The global partner network continues to expand and currently includes 39 partners operating in 21 countries.

Financial highlights (EUR)

• Total revenue for the period amounted to EUR 2.54 million, compared with EUR 2.45 million in 2024, representing an increase of 3.9% year-on-year.
• Annual Recurring Revenue (ARR) reached EUR 2.51 million. In 2024, ARR amounted to EUR 2.37 million, corresponding to a year-on-year increase of approximately 5.9%. ARR represented approximately 98.6% of total revenue by 2025.
• Operating profit (EBIT) amounted to EUR 0.57 million, corresponding to an EBIT margin of 22.6%, compared with EUR 0.51 million, or an EBIT margin of 20.6%, in 2024.
• Profit before tax (EBT) amounted to EUR 0.30 million, corresponding to an EBT margin of 12.0%, compared with EUR 0.32 million, or an EBT margin of 13.2%, in 2024.
• Net profit for the period amounted to EUR 0.26 million, compared with EUR 0.32 million in the prior year.
• Total assets amounted to EUR 7.2 million as at 31 December 2025, compared with EUR 6.8 million as at 31 December 2024.
• Total equity amounted to EUR 3.2 million, compared with EUR 2.9 million at year-end 2024, corresponding to an equity ratio of 45.9% (2024: 43.2%).
• Total liabilities amounted to EUR 3.9 million, compared with EUR 3.9 million at year-end 2024.
• Cash and cash equivalents amounted to EUR 0.99 million as at 31 December 2025 (2024: EUR 1.8 million).

Þorsteinn Svanur Jónsson, Klappir CEO
We are proud of the progress Klappir has made to date and of the strong foundation established for long-term growth. With a high share of recurring revenue, a scalable SaaS platform, and a rapidly expanding global ecosystem, Klappir combines current profitability with a clear trajectory for future growth.

The 2025 results demonstrate, above all, the resilience of Klappir’s data infrastructure and the depth of the business relationships built around data quality and integrity.

In a year marked by geopolitical disruption reshaping the global economy, constraining access to energy, materials, and capital, sustainability evolved from a largely cultural or symbolic concept into a discipline grounded in measurable risk, resource constraints, and economic performance. Data-driven decision-making took precedence as narrative-driven approaches receded.

This shift aligns directly with Klappir’s long-standing approach to product and business development. Klappir has consistently championed data-driven resource management as the foundation for operational efficiency, with sustainability outcomes and stakeholder communication emerging as a natural consequence.

Klappir continued to grow year over year by converting rising demand into predictable, recurring revenue while maintaining healthy profitability. This performance was achieved even as the company deliberately refocused significant resources inward to expand capacity, materials, and automation required to support scalable growth in 2026. In parallel, Klappir fully realized its partner network, with partner-led revenue increasing by approximately sevenfold year over year.

This partner network is instrumental in enabling scale, reducing competitive friction with consultants, and positioning Klappir as foundational infrastructure that supports trustworthy and efficient economic activity at low corporate and social cost. While annual recurring revenue grew modestly year over year, support service revenue declined as the company intentionally prioritized long-term scalability and deeper partner relationships over short-term revenue optimization.

With recurring revenue representing 98% of total revenue, a product-led-growth-ready data infrastructure platform, and a rapidly expanding global ecosystem, Klappir is building critical capability for the future economy. Net revenue retention improved toward the end of the year, reaching 103.5% in Q4 2025, reflecting early returns on research and development investments made throughout the year and providing a strong foundation for accelerated growth in 2026.

Klappir’s distribution strategy continues to mature, progressing from data-driven due diligence and stakeholder assessment tools early in the year, to the launch of a freemium offering with live resource data flows, and onward toward data-enabled sustainable finance use cases. The company intends to maintain a disciplined conversion rate of approximately 5-8% while increasing virality and sign-up velocity.

Beyond distribution, Klappir is increasingly focused on unlocking additional value from the high-fidelity, structured resource data accumulated within its platform. Artificial intelligence will play a central role in this next phase, both through AI-driven agents that enhance automation, insight generation, and operational efficiency within the platform, and by positioning Klappir’s data infrastructure as a reliable foundation for external, large-scale AI systems addressing resource efficiency.

With a proven data infrastructure, clear use cases, a scalable partner model, and a growing global user base, Klappir is now entering the second phase of its development, extending its role as foundational infrastructure not only for organizations managing their resources today, but also for future solutions that will depend on reliable, high-integrity resource data.