IVSONasdaq StockholmIndustrialsIFRS · SEK

INVISIO

INVISIO specializes in developing and marketing advanced communication systems designed to enable effective communication in noisy and challenging environments, while providing full hearing protection. The company focuses on field and in-vehicle communication systems for defense and public safety organizations, including intercom solutions for various transport modes. INVISIO also enhances body-worn soldier systems through intelligent system integration. The company's products are marketed under the INVISIO and Racal Acoustics brands, serving primarily defense, law enforcement, and security industries in the US, Europe, and selected Asian markets.

Revenue1,737m SEK
−3.9 %y/y
Operating profit (EBIT)309m SEK
−23.2 %y/y
EBIT margin17.8%
−4.5 ppy/y
Net income218m SEK
−28.8 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

05001,0001,5002,000m SEK2021: 593 m SEK2021: EBIT 25 m SEK20212022: 776 m SEK2022: EBIT 65 m SEK20222023: 1,239 m SEK2023: EBIT 243 m SEK20232024: 1,807 m SEK2024: EBIT 402 m SEK20242025: 1,737 m SEK2025: EBIT 309 m SEK2025TTM 2026: 1,836 m SEKTTM 2026: EBIT 300 m SEKTTM1,836300
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year

Business

Share of revenue
Field Communication Systems40 %

Includes advanced systems for effective communication in noisy environments.

Vehicle Intercom Solutions30 %

Intercom systems for boats, helicopters, and armored vehicles.

Body-Worn Soldier Systems20 %

Integration of sound, power, and data in soldier systems.

Hearing Protection Devices10 %

Devices providing hearing protection while enabling communication.

Customers

INVISIO primarily serves defense, law enforcement, and security organizations across the US, Europe, and selected Asian countries. The company's products are essential for customers operating in noisy and mission-critical environments, where clear communication and hearing protection are vital. Defense organizations form the core customer base, contributing approximately 85% of revenue, with growing opportunities in law enforcement and security markets. INVISIO's solutions are particularly valued for their system integration capabilities, which enhance operational effectiveness in challenging conditions.

Defense Organizations

Purchase communication systems for field and vehicle use to ensure effective operations in noisy environments.

Law Enforcement Agencies

Require reliable communication solutions for mission-critical operations.

Security Industries

Seek advanced intercom and communication solutions for secure operations.

Strategy

INVISIO's strategic priorities focus on expanding its market presence in law enforcement and security sectors while maintaining its stronghold in defense. The company aims to enhance its product offerings through continuous innovation and system integration capabilities. Strategic acquisitions, such as the one in 2025, are part of its growth strategy to optimize sound, power, and data integration in soldier systems. INVISIO also targets a sustainable growth trajectory with a focus on achieving an average annual revenue growth of at least 20% over time.

Expand in Law Enforcement and SecurityMedium term

To capture new market opportunities and diversify revenue streams.

Enhance Product OfferingsLong term

To maintain competitive edge and meet evolving customer needs.

Achieve Sustainable GrowthLong term

To ensure long-term financial stability and shareholder value.

Geography

Q4/2025

INVISIO operates globally, with a significant presence in the US and Europe, which together account for about 85% of its revenue. The company is expanding its footprint in selected Asian markets, aiming to capture new opportunities in law enforcement and security sectors. The head office is located in Copenhagen, with additional sales offices in the US, France, Italy, the UK, and Thailand. This geographical distribution supports INVISIO's strategy to leverage local market knowledge and enhance customer engagement.

Europe79 %
North America13 %
Sweden4.2 %
Rest of World4.0 %

Share of the revenue the company reports by geography.

Risks

INVISIO faces several risks, including market volatility and geopolitical uncertainties, particularly in its key markets of the US and Europe. The company's reliance on defense contracts exposes it to fluctuations in government spending. Additionally, the integration of acquired technologies poses operational challenges. Sustainability and climate-related risks are also considered, as they may impact supply chains and operational costs. Financial risks include currency fluctuations and the need to manage a diverse global operation effectively.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Market Volatility1Geopolitical Uncertainties2Technology Integration Challenges3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Market VolatilityImpact: HighLikelihood: Low

    High dependence on defense contracts subject to government budget changes.

  2. Geopolitical UncertaintiesImpact: HighLikelihood: Low

    Operations in politically sensitive regions like the US and Europe.

  3. Technology Integration ChallengesImpact: MediumLikelihood: Low

    Complexity in integrating new acquisitions into existing systems.

Accounting

Judgemental items
Revenue Recognition Timing

Critical due to reliance on large defense contracts.

Impact: Significant quarterly revenue fluctuations

Intangible Asset Valuation

Acquisitions require accurate valuation for financial reporting.

Impact: Potential impairment risks

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

INVISIO (IVSO) Revenue, Earnings & Financials 2025 – Clarifo