TENEONasdaq StockholmSoftware - InfrastructureIFRS · SEK

Teneo AI

Teneo.ai is a software company that builds enterprise conversational AI for voice and text interactions, with a focus on understanding customer intent and orchestrating automated service workflows. Its platform is used by large organizations to handle customer contacts across multiple languages and channels, with a structure centered on proprietary natural-language technology and a US operating subsidiary.

Revenue86.2m SEK
+2.4 %y/y
Operating profit (EBIT)-42.8m SEK
+23.5 %y/y
EBIT margin-49.7%
+16.9 ppy/y
Net income-112.5bn SEK
−171,704.6 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

-150-100-50050100m SEK2021: 39 m SEK2021: EBIT -11 m SEK20212022: 46 m SEK2022: EBIT -9.7 m SEK20222023: 61 m SEK2023: EBIT -72 m SEK20232024: 84 m SEK2024: EBIT -56 m SEK20242025: 86 m SEK2025: EBIT -43 m SEK2025TTM 2026: EBIT -147 m SEKTTM-147
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year

Business

Share of revenue
Conversational AI platform55 %

Core software for understanding customer speech/text and resolving interactions.

AI orchestration and workflow automation20 %

Routing, governance, and coordination layers for enterprise service automation.

Enterprise deployment and integration services15 %

Implementation, configuration, and integration support for large customers.

Support, maintenance, and customer success10 %

Ongoing support for live deployments and account expansion.

Customers

Teneo.ai sells primarily to large enterprises that run high-volume customer service operations and need to automate voice and text interactions. The company highlights regulated and complex industries such as telecommunications, financial services, healthcare, and consumer-facing enterprises with large contact-center footprints. Customers buy the platform to reduce handling costs, improve response speed, and increase automation without losing control over accuracy or compliance.

Large enterprise contact centers

Buy voice and text automation to handle millions of customer interactions efficiently.

Telecommunications operators

Use the platform for customer care, routing, and multilingual service automation.

Financial services institutions

Adopt the system for controlled, auditable customer interactions in regulated workflows.

Healthcare and other regulated enterprises

Buy explainable AI tools that can support compliance-sensitive customer communications.

Existing enterprise customers

Expand usage over time as more workflows and languages are added.

Strategy

Teneo.ai’s strategy is to expand within existing enterprise accounts while winning new large customers in high-value ecosystems. The company is also prioritizing North America and the UK, where it sees the strongest enterprise demand for automated, agentless contact-center solutions. Its competitive position is built around proprietary accuracy, deterministic output control, and multilingual capability rather than generic chatbot functionality.

Deepen existing customer deploymentsShort term

Expansion within installed accounts has been a key growth engine and lowers sales friction.

Acquire new enterprise accountsShort term

New logos are needed to scale the platform across large contact-center ecosystems.

Strengthen regulated-industry positioningMedium term

Explainability and auditability are key buying criteria in regulated sectors.

Scale multilingual automationMedium term

Language coverage broadens addressable markets for multinational customers.

Geography

Teneo.ai’s commercial focus is centered on North America, especially the United States, with additional emphasis on the UK and broader EMEA opportunities. The reports also indicate a US subsidiary and a go-to-market structure built around enterprise sales coverage across the West, Mid, and East regions of North America. Geography matters because the company’s customer base, regulatory exposure, and sales execution are tied to large enterprise markets rather than broad consumer distribution.

Risks

Teneo.ai faces the typical risks of an early-stage enterprise software company, including funding needs, customer concentration, and competition from better-known AI vendors. Its business also depends on continued product performance, protection of intellectual property, and the ability to keep pace with fast-moving AI and regulatory expectations. Because the company sells into large enterprises, delays in procurement or implementation can materially affect growth timing.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Financing and going-concern risk1Technology and product obsolescence2Competitive pressure3Intellectual property infringement4Foreign exchange volatility5
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. Financing and going-concern riskImpact: CriticalLikelihood: High

    Operating cash flows do not yet cover planned costs and investments, so external funding may be needed.

    Exposure: Company-wide

  2. Technology and product obsolescenceImpact: HighLikelihood: Medium

    The platform must remain competitive in a rapidly evolving conversational AI market.

    Exposure: Core product

  3. Competitive pressureImpact: HighLikelihood: Medium

    The market is fragmented and includes larger vendors with stronger brand recognition and resources.

    Exposure: Sales and pricing

  4. Intellectual property infringementImpact: MediumLikelihood: Medium

    The company relies on patents and proprietary technology that may be difficult to fully protect.

    Exposure: Platform differentiation

  5. Foreign exchange volatilityImpact: MediumLikelihood: Low

    Revenue and expenses occur in multiple currencies, affecting reported results and comparability.

    Exposure: International operations

Accounting

Judgemental items
Capitalized software development

Development projects meeting recognition criteria are capitalized, affecting EBITDA-like measures and intangibles.

Impact: Can shift spend from operating expense to balance sheet assets

Impairment of intangible assets

Capitalized development costs are tested for impairment and may be written down if recoverability weakens.

Impact: Could materially affect earnings and equity

Going-concern and financing assumptions

Management states current financing may not cover the next twelve months without additional capital.

Impact: Affects liquidity disclosure and asset valuation assumptions

Foreign currency translation

Operations involve multiple currencies, so exchange rates can move reported revenue and costs.

Impact: Creates volatility in reported results

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

Teneo AI (TENEO) Revenue, Earnings & Financials 2025 – Clarifo