Captii (AWV) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue fell 23.6% YoY to S$3.699m; net loss narrowed to S$0.140m from S$4.351m, with EBITDA of S$0.148m versus LBITDA of S$4.029m.

• 9M 2025 revenue rose 1.9% YoY to S$11.599m; net loss narrowed to S$0.327m from S$7.215m, with EBITDA of S$0.482m versus LBITDA of S$6.352m.

Financial highlights

• Q3 gross profit was S$2.300m, down 20.1% YoY; gross margin improved to 62.2% from 59.5%.

• 9M gross profit increased 17.4% YoY to S$7.180m; gross margin rose to 61.9% from 53.7%.

• Q3 net total expenses fell 67.3% YoY to S$2.337m; 9M expenses declined 44.6% to S$7.283m, primarily reflecting the absence of prior-year venture investment fair value losses.

• Operating cash flow was S$1.279m in Q3 and S$3.940m in 9M, versus S$0.774m and S$0.071m, respectively, in the prior-year periods.

Outlook and guidance

• Unifiedcomms and GlobeOSS outlook remains challenging; contracts in hand, product innovation, market diversification and operational efficiency remain priorities.

• Cautious optimism for the rest of FY 2025 is supported by fiscal discipline and initiatives to strengthen fundamentals; venture market conditions remain unfavorable, with improvement seen for start-ups in some industries.