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Exasol (EXL) investor relations material
Exasol Q3 2025 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for the first nine months of 2025 increased by 8.9% to €31.7 million year-over-year, with EBITDA rising to €3.0 million from €1.0 million in the prior year.
ARR declined by 4.1% to €39.0 million, mainly due to accelerated churn and downsell in non-focus verticals, while focus verticals drove 24–25% ARR growth and now represent 69–70% of total ARR.
Strategic partnership with MariaDB was launched, expanding market reach and expected to drive ARR growth in 2026.
Adjusted guidance: ARR expected to decline by a single-digit percentage in 2025, revenue growth maintained at mid-single-digit, and EBITDA guidance raised to €3.5–4.0 million.
Focus verticals now account for the majority of ARR, with non-focus verticals experiencing high churn and significant customer losses.
Financial highlights
Revenue for 9M 2025 was €31.7 million, up 8.9% year-over-year, with recurring revenue at €28.5 million and non-recurring revenue rising to €3.2 million.
EBITDA improved to €3.0 million, up from €1.0 million last year.
Net income reached €2.1 million at Q3, a significant improvement from a loss in the prior year.
Liquid funds at Q3 2025 stood at €15.0 million, with liquidity remaining stable after normalizing for one-off equipment shipments.
Gross profit declined due to lower recurring revenue and reduced R&D grants.
Outlook and guidance
ARR guidance for 2025 revised to a single-digit percentage decline, with revenue growth maintained at mid-single-digit and EBITDA guidance at €3.5–4.0 million.
ARR growth expected to resume in 2026, with churn projected to halve and delayed projects in focus verticals anticipated to close.
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