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Modulight (MODU) investor relations material

Modulight Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary22 Aug, 2025

Executive summary

  • Revenue and EBITDA improved significantly year-over-year, with Q2 revenue up 103% to EUR 1,962k, driven by a broader customer base, strong order intake, and operational efficiency.

  • The project pipeline expanded to 32 projects, with several advancing to pilot production and a focus on commercializing proprietary products.

  • Geographical expansion, especially in the US, led to new major international customers and increased business outside the core market.

  • Transition to a Pay Per Treatment (PPT) business model continues, with 60 sites now installed and usage exceeding expectations.

  • The company completed its investment program, reducing implementation costs and improving profitability.

Financial highlights

  • Q2 2025 revenue: EUR 1,962k (up 103% year-over-year); H1 2025 revenue: EUR 3,568k (up 76%).

  • Q2 EBITDA: EUR -43k (improved from EUR -1,221k); H1 EBITDA: EUR -625k (improved from EUR -2,535k).

  • Free cash flow from operations in Q2: EUR -1,315k (improved from EUR -2,554k); H1: EUR -2,865k (improved from EUR -5,073k).

  • Operating expenses decreased by 12% year-over-year, despite increased investment in product development and sales.

  • Cash and cash equivalents at period end: EUR 12,317k; equity ratio at 88.6%.

Outlook and guidance

  • Most customer projects are in early development, making revenue forecasting difficult; no formal guidance for 2025 due to macroeconomic and geopolitical uncertainties.

  • Growth strategy targets strong business performance by 2025, focusing on expanding PPT sites and leveraging new customer sign-ups.

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Frequently asked questions

Modulight is a Finnish technology company specializing in the design and manufacture of lasers and optical systems for medical, industrial, and research applications. The company offers laser products used in diagnostics, cancer treatments, and surgical procedures, as well as custom solutions for various industries. Modulight is headquartered in Tampere, Finland, and its shares are listed on the Nasdaq First North Growth Market.

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