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Otovo (OTOVO) investor relations material
Otovo Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Announced and completed a strategic combination with Onvi/Onvis, forming a transatlantic AI-driven home energy service and financing platform, with Onvi becoming Otovo USA at a 60/40 exchange ratio.
John Berger appointed CEO and Andreas Thorsheim as Chief Product Officer.
NOK 45 million committed in a capital raise at NOK 1 per share, supporting growth, expansion, and technology development.
The new entity targets the underserved market for long-term service and maintenance of home energy assets, focusing on over 30 million homeowners in the U.S. and Europe.
Strategic shift to a pan-European leasing and service platform, aiming to reduce fixed costs and expand reach.
Financial highlights
Q3 2025 revenue was NOK 149.8–150 million, flat sequentially and down 11% year-over-year.
Gross profit reached NOK 35.3 million, up 7% year-over-year, with a gross margin of 23.5%.
EBITDA was negative NOK 60 million, with payroll costs significantly reduced year-over-year.
Cash flow from operations was negative NOK 64–74 million in Q3, with NOK 56 million in cash and NOK 29 million in receivables at quarter end.
Combined entity valuation: Otovo at NOK 280 million, Onvi at NOK 189 million, plus new capital.
Outlook and guidance
Positive operating cash flow targeted for Q2 2026, excluding one-time expenses.
Cost-cutting program completed in October, with NOK 110–120 million in annual savings expected from Q1 2026.
Ambition to grow from 15,000 subscription customers at Q3 end to 65,000 next year, 200,000 in two years, and 250,000 by 2028.
Combined entity expected to have approximately NOK 90 million in cash at year-end after fundraising.
Strategic pivot aims to reduce volatility and costs, introduce recurring revenue streams, and transition to a partner-driven model.
Q3 payroll vs. NOK 80m annual cost reduction
Onvis deal: capital raise and cash position
ISWT impairment: what are the key risks ahead?
How does AI drive cost efficiency?
What are the key drivers for service customer growth?
How does NOK 45M fund path to Q2 2026 cash flow?
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Next Otovo earnings date
Q4 202512 Feb, 2026
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Frequently asked questions
Otovo AS engages in the online selling of solutions and services related to distributed renewable energy to private customers in Norway, Sweden, and Italy. It offers solar panels; installation services; plugs for electrical appliances, such as lights for indoor and outdoor, home theater systems, convectors, water heaters, freezers, cookers and ovens, washing machines, dishwashers, furnaces and radiators, fans and ventilators to release stale air from bathrooms or rooms where food is being prepared; power banks; and power wall devices. The company sells its products through an online store. Otovo AS was founded in 2016 and is based in Oslo, Norway.
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