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Terminal X Online (TRX) investor relations material
Terminal X Online Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue grew 13.8% year-over-year to ₪560.2M, driven by organic growth and acquisitions.
Net income reached ₪31.5M, up 12.6% from 2024, with improved gross and operating margins.
Expansion included the consolidation of Strongful, Ada Lazorgan, Inker, and Ronit Yam brands.
Focus shifted from rapid revenue growth to profitability and operational efficiency.
Financial highlights
Gross margin improved to 47.1% from 44.2% in 2024, reflecting better product mix and cost control.
Adjusted EBITDA margin rose to 16.0% (₪89.7M), up from 15.7% in 2024.
Operating profit before share-based payments increased 30.2% to ₪48.2M.
Cash flow from operations was ₪50.1M, with a year-end cash balance of ₪108.1M.
Dividend distributions totaled ₪38.2M during 2025.
Outlook and guidance
Strategic focus remains on profitability, cost optimization, and integration of new brands.
EBITDA margin target is to maintain at least 15% annually.
Plans to expand product categories and evaluate further acquisitions in Israel and potentially abroad.
- Revenue up 13.6% to ₪380.3M, net profit up 17.6% to ₪19.7M, driven by acquisitions.TRX
Q3 202524 Nov 2025 - H1 2025 revenue up 9.2% to ₪246.5M, net income up 6.6%, and gross margin at 48.0%.TRX
Q2 202519 Aug 2025 - 2024 revenue up 16.2%, net income ₪28M, and 15.7% adjusted EBITDA margin.TRX
Q4 202424 Jun 2025 - Net income rose 34% to ₪6.0M on 3.4% higher revenue, with strong margin gains in Q1 2025.TRX
Q1 202524 Jun 2025 - Revenue up 16.9% to ₪334.9M, net income at ₪16.8M, and strong segment growth.TRX
Q3 202413 Jun 2025 - H1 2024 saw double-digit revenue growth, margin improvement, and strategic expansion.TRX
Q2 202413 Jun 2025
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