Cherry (C3RY) Investor presentation summary

Financial performance and restructuring

• FY 2025 revenue reached €94.3m, down 15% year-over-year, mainly due to divestment and lower demand in Components, while Peripherals showed increased momentum.

• Adjusted EBITDA for FY 2025 was -€9.8m, heavily impacted by restructuring, impairments, and legacy costs, though Q4 EBITDA momentum turned positive.

• Cash burn was drastically reduced, with cash on hand at €7.5m and equity ratio at 43.2% as of September 2025.

• Inventory levels were reduced by over €5m quarter-over-quarter, with active office SKUs cut by about 40% since January 2025.

• Group revenue and EBITDA declined across all divisions for 9M 2025, but Peripherals and Digital Health & Solutions saw Q3 revenue growth year-over-year.

Strategic milestones and operational updates

• Strategic realignment confirmed at AGM, with shareholder approval for transformation and expansion of the Management Board.

• TI-Messenger provider approval received, enabling new digital health communication capabilities.

• Auerbach site reshaped as a central development, logistics, and services hub, with logistics operations consolidated and external partnerships reduced.

• Integrated product and technology development established, with a focus on Peripherals and Digital Health & Solutions and a defined technology roadmap for 2026 and beyond.

Outlook and transformation initiatives

• Interim CEO Rogier Volmer appointed, bringing turnaround and transformation experience from previous roles.

• Structured M&A process initiated to divest either Peripherals or Digital Health, aiming to strengthen financial flexibility and complete a transaction in H1 2026.

• Digital Health & Solutions targets recurring SaaS revenue growth, with TI-M Pro launched and a shift from hardware to software revenue streams.

• Peripherals business streamlined, with SKU reduction, talent acquisition, and increased focus on APAC and EMEA regions.

• Major shareholder committed up to €5.7m, legal entities reduced for efficiency, and liquidity management prioritized.