Yet in these challenges, Stibo DX has demonstrated resilience and vision. We have remained committed to empowering the digital transformation of the media industry and are proud to have made bold investments in our platform and organization that position us, and our customers, for long-term success.
Navigating industry transformation
The industry continues to experience rapid convergence, with traditional publishing and broadcasting boundaries dissolving into integrated, digital-first newsrooms – what we call multimedia hybrid newsrooms. Because of this trend, and to drive up reach and economies of scale, media enterprises are responding by consolidating brands and systems, building unified content strategies, while also investing in standard technologies—particularly automation and AI—to operate more efficiently and engage audiences across platforms.
This shift reflects a deep and urgent need for streamlined operations, cost-effective scalability, and personalized storytelling with true journalism at its core.
Our Cue media enterprise platform is designed precisely for this new era. As a purpose-built, modular, yet fully integrated end-to-end platform for modern multimedia organizations, Cue supports story-centric planning, multimodal production, AI-powered automation, and cross-channel distribution —empowering media companies to innovate, scale efficiently and adapt with confidence.
A double-digit million EUR extraordinary investment to build the future
Thanks to the stable ownership of Stibo DX and the enduring long-term media industry commitment of the Stibo Foundation, we are positioned to make investments that stand apart from the norm when required.
Hence, to meet the accelerated media industry transformation head-on, in April 2025, we decided on a bold new strategic initiative: an extraordinary investment of a double-digit million EUR amount running from May 2025 to April 2027 in the Cue media enterprise platform and related services.
The strategic initiative has the title “Summerbird”. The extraordinary investment comes on top of the investment level already in place. This bold and strategic move is focused mainly on three core objectives:
- Enhancing platform performance and efficiency across PaaS, SaaS, and on-premise deployments to reduce operational complexity and total cost of ownership to support increased industry profitability needs.
- Empowering industry convergence and digital transformation through expanded capabilities for collaboration and innovative journalistic storytelling in AI-supported multi-brand, multi-modal environments.
- Elevating customer experience, with strengthened support and standardised services in parallel with offering a scalable cloud-native media enterprise platform-as-a-service, designed for the future of media.
This initiative marks a pivotal step in accelerating our customers’ ability to consolidate, converge, and innovate. With enhanced AI features, improved platform architecture, and the launch of Cue Hive as a hub for editorial planning and innovative collaboration, we are strengthening our value proposition to media enterprises navigating complex transformation.
Performance
The 2024/25 financial year was an intentional investment year. Net revenue totalled DKK 222 million, reflecting a 5% year-over-year decrease due to the ongoing shift from traditional perpetual licensing to a SaaS-based model. At the same time, we saw significant gains in SaaS revenue, which grew by 16%, and recurring revenue, which rose by 5%.
While EBITDA recorded a loss of DKK 35.2 million, this was expected given the substantial investments in transformation and growth. These included restructuring our development model with a new nearshore center in Spain, expanding customer success teams as well service delivery teams while increasing innovation budgets beyond 23% of revenue. Importantly, while customer retention remains strong, with support and maintenance revenues holding steady, for the second consecutive year in a row, we saw a growth in new contracts of +9% YoY, totalling a contract value of DKK 107 million.
Several new media brands were added to the user base of the Cue media enterprise platform across the world over the year, while a new contract in Japan marked our entry into this exciting market.
We also remain thankful for the quick market adoption of the new products we bring to market, making up substantial part of all new contract revenue already within the first year of market introduction.
A platform for what’s next
Cue is no longer just a content management system with a range of add-on modules—it is a comprehensive media operating platform. The total fully integrated product suite now includes Cue Content Store, Cue Dam, Cue Print (and Cue Print Automation), Cue Autopilot and Cue Hive (beta). With Cue Autopilot, we are bringing AI directly into the entire value chain of editorial workflows, enhancing content quality, speed, and intelligence.
Our story-centric model empowers convergence across teams, brands, and formats, while our cloud-native strategy ensures future scalability – all available as-a-service – in support of multimedia hybrid media outlets of the future.
In parallel with significant investments in innovation, organisation and growth, we continue to strengthen our commitment to security, ESG and operational excellence. We are proud of our ISO 27001 and 14001 certifications, and of our progress toward science-based climate targets.
Outlook
As we look to the year ahead, we remain focused on delivering new services and capabilities within the Cue media enterprise platform, especially for consolidated, converging and innovative newsrooms with publishers as well as broadcasters. The industry will continue to evolve, and we are committed to evolving with it—staying at the forefront of innovation, platform development, and customer experience and success.
Though we anticipate continued short-term impact on earnings from our subscription model transition, we are confident in our long-term strategy. For the coming fiscal year, we project annual revenue growth of 10–13%, with a forecasted EBITDA loss in the range of DKK 60-70 million as we continue investing significantly the future. As a result of the beforementioned extraordinary investment, we are expanding our team to support the strategic initiative—adding nothing less than 22% to our global workforce already over 2025.
In closing
Stibo DX has a proud legacy of innovation and partnership with leading media enterprises. As the industry enters a new chapter, we are reaffirming our commitment to being the trusted technology partner for media transformation, delivering solutions that power the next generation of journalistic storytelling.
Thank you for your continued support.
Sincerely,
Lars Bjørn Falkenberg
Chief Executive Officer
Stibo DX A/S