EKINOPS
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EKINOPS (EKI) investor relations material

EKINOPS H2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for EKINOPS S.A.
H2 2025 earnings summary11 Mar, 2026

Executive summary

  • FY 2025 revenue was €105.0m, down 11% year-over-year, with a 10.0% EBITDA margin.

  • Declines in Access equipment (-15%) and Optical Transport (-12%) were partially offset by 27% growth in Software & Services, now 25% of total revenue.

  • Acquisition of Olfeo contributed €3.7m to revenue and supported expansion into cybersecurity segments.

Financial highlights

  • Gross margin improved to 57.3% from 54.8% year-over-year, driven by a favorable business mix.

  • EBITDA was €10.5m (10.0% margin), down from €18.0m (15.3% margin) in 2024.

  • Net income was -€7.2m, compared to -€7.0m in 2024.

  • Operating cash flow was positive at €3.5m, despite increased working capital needs.

Outlook and guidance

  • Targeting single-digit revenue growth in 2026, supported by new DCI and SASE solutions.

  • Significant investments planned in R&D and go-to-market strategies are expected to lower EBITDA margin in 2026.

  • Long-term ambition to return to double-digit growth under the Bridge strategic plan.

Stabilization of the top French Access customer
Impact of PTM R&D hiring on 2026 EBITDA margin
Impact of US BEAD program on 2026 revenue
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