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Asetek (ASTK) investor relations material
Asetek Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue ranged from $11.2M to $12.2M, down from $12.7M in Q2 2024, with stable gross margins and sequential growth in Liquid Cooling; SimSports revenue was impacted by U.S. tariffs and lower demand.
Adjusted EBITDA for Q2 2025 was between $82K and $0.2M, with operating loss at $1.3M and net loss at $1.7M; cost reductions were achieved through organizational downsizing.
Equity rights offering in January 2025 raised $10.3M, supporting investments in SimSports and new product development.
New product launches included the Ingrid liquid cooling platform, Forte Formula Pro Steering Wheel, and a mass-market SimSports product at Gamescom, with new OEM agreements signed.
Ongoing preliminary discussions regarding potential strategic transactions, with no certainty of outcome.
Financial highlights
Q2 2025 revenue was $11.2M–$12.2M (Q2 2024: $12.7M); H1 2025: $21.0M (H1 2024: $24.9M).
Gross margin for Q2 2025 was 44.8%–45%, stable year-over-year.
Operating loss for Q2 2025 was $1.3M; H1 2025 operating loss was $3.0M–$3.1M.
Cash and equivalents at June 30, 2025, were $7.3M; interest-bearing debt at $20.9M–$21M, maturing March 2028.
$10.3M raised via rights offering in H1 2025; net debt at June 30, 2025, was $15.1M.
Outlook and guidance
Full-year 2025 revenue guidance maintained at $45–$53M, with adjusted EBITDA margin of 0–3%.
Liquid Cooling segment revenue expected at $40–$43M, gross margin 40–45%.
SimSports revenue expected at $5–$10M, gross margin 28–33%, constrained by U.S. tariffs.
Growth in liquid cooling and SimSports expected from 2026, driven by new and mass-market product launches.
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