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Edge20 Mar 2026
Tetra Pak: The Shape of Innovation
The story of Tetra Pak, the Rausing family, and how a paper tetrahedron gave rise to a company that now delivers almost 180 billion packages a year.
CM.com
CM.com (CMCOM) investor relations material
CM.com H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2025 earnings summary13 Feb, 2026
Executive summary
Achieved record 2025 EBITDA of €18.4 million, up 12% year-over-year, and Adjusted EBITDA of €19.8 million, within guidance.
Revenue declined 5% to €259.4 million due to FX effects and lower CPaaS activity from large clients, but ARR grew 7% to €35.9 million.
Launched Agentic AI Platform HALO, driving innovation and 44% quarter-on-quarter revenue growth in Q4 2025.
Messaging volumes reached a record 9.1 billion in 2025, up 10% year-over-year.
Net loss improved to €3.8 million from €19.8 million in 2024, aided by a net gain on bond extinguishment and absence of goodwill impairment.
Financial highlights
Gross margin increased to 31.3%, up 1 percentage point year-over-year, reflecting improved product mix.
Gross profit per employee rose 6% due to cost discipline and an 8% reduction in FTE.
Adjusted EBITDA margin reached 7.6% for 2025.
Net debt reduced by 25% to €61.9 million; Adjusted Leverage ratio improved from 4.5x to 3.1x.
Free Cash Flow turned slightly negative due to reduced outstanding payables.
Outlook and guidance
Adjusted EBITDA for 2026 expected to grow by at least 30% compared to 2025.
Revenue growth anticipated to resume in Q1 2026, supported by AI adoption and favorable market conditions.
Offsetting large client CPaaS revenue decline
Sustainability of FTE reduction for growth?
Drivers of negative FCF despite balance sheet gains?
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Latest events from CM.com
- AI-first platform targets 15%+ gross profit growth and ~35% margin by 2028, led by HALO and innovation.CMCOM
CMD 20253 Feb 2026 - Record EBITDA, margin gains, and Q2 revenue growth set up a strong outlook for 2024.CMCOMH1 20243 Feb 2026
- Record EBITDA, positive free cash flow, and AI platform launch drive strong 2024 results.CMCOMQ4 20246 Jan 2026
- AI-driven innovation and margin gains offset a 7% revenue decline in H1 2025.CMCOMH1 202516 Nov 2025
- Record EBITDA in Q3 2025, but FY outlook lowered amid FX volatility and market headwinds.CMCOMQ3 2025 TU21 Oct 2025
- Record gross profit, higher EBITDA, and AI-driven innovation fuel strong Q3 performance.CMCOMQ3 2024 TU13 Jun 2025
Next CM.com earnings date
Q1 2026 TU16 Apr, 2026
CM.com
Next CM.com earnings date
Q1 2026 TU16 Apr, 2026
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@theshortbearx.com
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