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Virtualware (MLVIR) investor relations material
Virtualware H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Gross margin improved to 93.7% in 2025, up from 86.8% the previous year, reflecting operational discipline and resilience.
EBITDA reached €672,626 (15.53% margin), higher than the unaudited figure due to final depreciation and subsidy recognition.
Revenues totaled €4.32 million, consistent with preliminary results.
Record annual bookings exceeded €8 million, mainly from government and nuclear projects.
Entered 2026 with the strongest liquidity position in company history and a record backlog.
Financial highlights
Gross margin rose to 93.7% from 86.8% year-over-year.
EBITDA margin increased to 15.53%, up from 13.8% in the unaudited release.
Net financial debt was €2.70 million at year-end 2025, but a €6.22 million post-closing payment shifted the company to a pro forma net cash position.
Outlook and guidance
Entering the final year of the 2024-2026 Strategic Plan with a record backlog and expanding margins.
Enhanced financial flexibility supports selective investment and prudent capital allocation.
- Record profit, strong SaaS growth, and US expansion fuel double-digit gains and market leadership.MLVIR
H2 20242 Dec 2025 - Record contract and strong gross margin offset H1 revenue drop; outlook for H2 remains positive.MLVIR
H1 20252 Dec 2025 - EBITDA surged 91% as recurring revenue and North American growth drive strong results.MLVIR
Investor Update22 Nov 2025 - Virtualware achieved strong revenue growth and profitability in 1H2024, led by SaaS adoption.MLVIR
H1 202413 Jun 2025
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