)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
Oatly Group (OTLY) investor relations material
Oatly Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary29 Oct, 2025
Executive summary
Achieved first profitable quarter since IPO, with Q3 2025 revenue up 7.1% year-over-year and positive adjusted EBITDA, marking a key milestone in turnaround efforts.
Refreshed growth strategy and playbook are driving momentum, especially in Europe & International and Greater China, with North America showing improvement excluding specific headwinds.
Reaffirmed 2025 guidance, targeting flat to +1% constant currency revenue growth and adjusted EBITDA of $5–$15 million.
Net loss increased to $65.3 million, mainly due to fair value losses on Convertible Notes, despite improved operational performance.
Strategic review of Greater China business is ongoing, with no definitive timetable for completion.
Financial highlights
Q3 2025 revenue was $222.8 million, up 7.1% year-over-year (3.8% in constant currency); gross margin was 29.8%, flat versus prior year.
Adjusted EBITDA was $3.1 million, an $8.2 million improvement year-over-year.
Sold volume increased 6.6% to 150.6 million liters, partially offset by a 2.8% decline in price mix; FX was a 3.2% tailwind.
Free cash flow outflow improved to $31.1 million for the nine months ended September 30, 2025, from $133.1 million in the prior year; Q3 outflow was $5 million, $22 million better than last year.
Cash and cash equivalents at quarter-end were $58.9 million; total outstanding debt was $507.7 million.
Outlook and guidance
Reaffirmed 2025 guidance: constant currency revenue growth of flat to 1%, adjusted EBITDA of $5–$15 million, CapEX of ~$20 million.
Expect to be at the lower end of adjusted EBITDA guidance due to Q4 phasing and margin impacts.
Full-year foreign exchange impact expected to be a 250 basis point tailwind to revenue growth.
No direct impact from U.S. tariffs assumed; economic and consumer conditions expected to remain stable.
Explain Q3 net loss vs. Adjusted EBITDA.
Address North America's largest foodservice customer.
What are the next steps for Greater China review?
North America: path to consistent profitable growth?
Capital structure changes: long-term financial impact?
Europe playbook: drivers of sustained category growth?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Oatly Group earnings date
Q4 202511 Feb, 2026
Next Oatly Group earnings date
Q4 202511 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Are oats replacing traditional dairy products?
Oatly Group AB is a Swedish producer of oat-based products on a mission to provide the world with healthy and sustainable oat substitutes for cow milk.
Oatly supplies their products globally and are the world’s leading company producing oat milk. They have an impressive financial track record during the latest years, with 2017 as a great example. That year, Oatly reported revenues of about $140 million, an increase of 30 percent in sales from the previous year. They say the performance is due to the focus on developing innovative products that meet modern customers' needs and trends.
Profiting from the vegan trend
Oatly have absolutely been capitalizing on the increased demand for vegan and vegetarian products. The plant-based milk substitutes grew worldwide from 3.7 billion kilograms in 2013 to 6.3 billion in 2020. And the Guardian (2021) estimates that there are 79 million vegans worldwide and expects this number to increase in the upcoming several years.
Oatly’s growth recipe—their innovation power
Except for the growing trend of plant-based products, Oatly’s innovative ability has been a winning factor in their growth. Oatly have been investing massively in developing new products, like the plant-based ice cream that got overwhelming reviews. The company is associated with sustainability, yet another success for their brand.
Founded in Sweden, 1994
The Swedish brothers Björn Öste and Rickard Öste founded Oatly in 1994 and fought to create a market out of planted-based products–a market that actually was not invented yet. Once, when they approached one of the big dairy companies in Sweden with an MVP of their product, they were rejected and told it was “unsellable.” That rebuff, of course, pushed them even more to make Oatley a success. So, with three successive years of triple-digit annual growth before their IPO in 2021, it's reasonable to argue that plant-based foods are here to stay.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage