Bittium (BITTI) Q3 2025 earnings summary

Executive summary

• Net sales for Q3 2025 grew 64.9% year-over-year to EUR 23.1 million; operating result improved to EUR 2.5 million from EUR -0.3 million.

• For January–September 2025, net sales increased 25.7% year-over-year to EUR 65.3 million, with operating result rising to EUR 4.0 million.

• Growth was primarily driven by the Defense & Security segment, which saw Q3 net sales up 123.5% year-over-year.

• Strategic partnerships and product launches, including the Bittium Tough Mobile 3 and collaboration with HMD Secure Oy, supported growth.

Financial highlights

• Q3 2025 EBITDA was EUR 4.6 million (20.0% of net sales), up from EUR 1.3 million (9.2%).

• January–September EBITDA reached EUR 9.4 million (14.4% of net sales), compared to EUR 8.7 million (16.7%).

• Q3 result for the period was EUR 2.3 million (EUR -0.6 million); EPS EUR 0.065 (EUR -0.016).

• Net cash flow for January–September was EUR -2.5 million, down from EUR 3.0 million.

• Order backlog at the end of September was EUR 33.0 million, down from EUR 39.4 million a year earlier.

Outlook and guidance

• 2025 net sales expected at EUR 95–105 million (EUR 85.2 million in 2024); operating result forecasted at EUR 10–13 million (EUR 8.6 million in 2024).

• Long-term targets: average annual revenue growth of 20–30% and operating profit of 10–20%.