Embla Medical (EMBLA) Q4 2025 earnings summary

Executive summary

• Achieved several milestones in 2025, including majority investment in Streifeneder ortho.production, new bionic knee launches (NAVii, Icon, Odyssey iQ), and expansion into Ukraine with a new clinic in Kyiv.

• Rebranded Patient Care facilities to ForMotion in multiple regions and launched a three-year partnership with the Icelandic government to support Ukrainian amputees.

• Recognized among the world's top 500 companies for sustainable growth, named to Forbes Accessibility 100 and TIME's World's Best Companies.

• Strong topline, net profit growth, and cash flow generation in Q4 and FY 2025.

Financial highlights

• FY 2025 organic sales growth was 6%, reported growth 9% (1pp M&A, 2pp FX); Q4 organic growth 7%, reported 14% (3pp M&A, 5pp FX).

• EBITDA margin was 20% for FY 2025 (flat YoY), 19% in Q4 (down from 21% in Q4 2024).

• Net profit grew 33% YoY in Q4 and 21% for the full year, reaching USD 84 million.

• Free cash flow for 2025 was USD 100 million (11% of sales), up from USD 75 million (9% of sales) in 2024.

• Gross profit margin was 62% for both Q4 and FY 2025 (down 1pp YoY in Q4).

Outlook and guidance

• 2026 guidance: 5%-8% organic sales growth and 20%-22% EBITDA margin; CAPEX expected at 3%-4% of sales, effective tax rate 23%-24%.

• Growth expected from prosthetics, neuroorthotics, and gradual improvement in patient care, with new product launches and Medicare coverage expansion in the US.

• Bracing and supports expected to grow in line with the market; margin guidance reflects external headwinds (FX, tariffs).

• New share buyback program initiated in January 2026 for up to 2 million shares (up to USD 10m).