RØHNESELMER AS keeps growing revenue and is losing less on each year's sales

RØHNESELMER AS, an Oslo-based limited company, reported revenue of NOK 2.6bn for 2025, up 17.1% from NOK 2.2bn in 2024 and well above NOK 1.8bn in 2023. The operating loss narrowed to NOK 16.0m from NOK 87.7m, and the net loss to NOK 46.5m from NOK 106m. Cash rose 101.8% to NOK 98.2m. The operating margin is still negative at -0.6%, though it stood at -4.0% a year earlier.

Growth at this pace usually needs capital and people ahead of the revenue, so losses often linger while a company scales. Equity rose to NOK 151m from NOK 92.3m, and the equity ratio, the share of assets funded by owners, moved to 16.1% from 10.1%. That is still a thin cushion. I would watch whether the margin reaches zero before growth slows. Revenue keeps climbing; profit is still catching up.