CM.com (CMCOM) Q3 2025 TU earnings summary

Executive summary

• Achieved record high EBITDA in Q3 2025, resuming growth trajectory despite challenging macroeconomic and FX conditions.

• Regained organic revenue growth for the first time since Q4 last year, with strong operational performance across key business segments.

• Continued innovation and expansion in AI-driven customer engagement and payment solutions, reinforcing competitive positioning.

Financial highlights

• Normalized EBITDA reached €6.0 million, up from €4.7 million in Q3 2024; organic growth was 38%, with a 9% negative currency impact.

• EBITDA was €5.4 million, up from €4.7 million; organic growth 25%, with an 8% negative currency impact.

• Gross profit rose to €21.2 million (Q3 2024: €21.1 million); organic growth 3%, with a 2% negative currency impact.

• Gross margin improved to 32.6% from 32.2% year-over-year.

• Revenue was €65.0 million, slightly down from €65.4 million; organic growth 1%, with a 2% negative currency impact.

• Normalized OPEX decreased 7% YoY to €15.2 million.

• Annual Recurring Revenue (ARR) increased 5% YoY to €35.2 million.

Outlook and guidance

• FY2025 Normalized EBITDA now expected at €18-20 million, revised down from previous guidance of €22-27 million due to FX volatility and market headwinds.

• Gross profit anticipated to increase in H2 2025 compared to H1 2025.

• Normalized OPEX expected to be lower year-over-year, shifting from previous guidance of being flat.