Facephi Biometria (FACE) H1 2025 earnings summary

Executive summary

• Transitioned from single-point identity verification to a comprehensive, AI/ML-powered digital security platform, now serving over 350 clients in 30+ countries across 10 sectors, with high retention and sector diversification into insurance, pensions, and fintech.

• Achieved positive free cash flow for the first time over the last 12 months, validating operational optimization and financial discipline.

• Revenue for H1 2025 increased to €12.6M–€13.0M, up 7.9%–11.3% year-over-year, with EBITDA nearly break-even or positive in constant currency.

• Expansion focus is shifting from LATAM (90%+ of revenue) to EMEA and APAC, with EMEA revenue share rising and sector diversification underway.

• Strategic partnerships with Eastnets and Hancom enhance global reach, compliance, and anti-fraud capabilities.

Financial highlights

• Revenue for H1 2025 reached €12.6M–€13.0M (constant currency), up from €11.7M in H1 2024.

• EBITDA improved significantly, nearly break-even at -€0.2M or positive €0.1M in constant currency, up from -€2.7M to -€3.09M in H1 2024.

• Gross margin improved from 60% to 80% year-over-year.

• Free cash flow reached breakeven or slightly positive over the last 12 months.

• Total contract value rose 50% year-over-year to €65.4M; ARR stands at €28M.

Outlook and guidance

• Revenue, EBITDA, and free cash flow are expected to continue growing, with FY2025 revenue forecasted at €36.4M (+26% YoY) and EBITDA at €7.4M (+618%).

• Revenue and EBITDA projected to grow at 26% and 232% CAGR, respectively, from 2024 to 2026.

• EMEA region revenue expected to increase tenfold in 2025 compared to 2024.

• 75–80% of next year's sales are already assured through ARR of €28M.

• Partnership revenues targeted to reach 20% of total in 2025 and 50% by 2028.