Agilyx (AGLX) H2 2025 earnings summary

Executive summary

• Strategic repositioning in 2025 focused on cost reduction and scalable growth, anchored by a profitable European recycling platform.

• Major pivot to Europe with the acquisition of a 46% stake in Green Dot, generating €400M revenue and €11M EBITDA in 2025.

• Cyclyx US operations restructured in early 2026, transferring key projects to partners and triggering a significant non-cash write-down.

• Strengthened platform with less debt, lower cash burn, and greater financial flexibility entering 2026.

Financial highlights

• Group revenue for 2025 was $1.2M, up from $1.0M in 2024.

• Net loss for 2025 was $148.0M, compared to a net loss of $22.0M in 2024.

• Significant non-cash impairment charges: $101.9M share of Cyclyx loss and $26.7M impairment, reducing Cyclyx investment to zero.

• Green Dot investment valued at $48.5M as of year-end 2025.

• Cash and cash equivalents at year-end: $5.6M unrestricted, $40.0M restricted.

Outlook and guidance

• Strategic focus on scaling the European platform through Green Dot, leveraging EU recycled-content mandates.

• Green Dot expected to generate over €20M EBITDA in 2026, reflecting recent acquisitions and operational improvements.

• Continued pipeline of value-accretive M&A opportunities targeted.