Fermentalg (FALG) H2 2025 earnings summary

Executive summary

• Achieved record revenue of €13.4 million in 2025, up 17% year-over-year, driven by diversification into new market segments.

• Net loss improved to €9.4 million from €12.9 million in 2024, reflecting better profitability and reduced losses from associates.

• Strengthened financial structure with a €4 million post-closing loan from Huvepharma, supporting cash position and growth.

• Expanded product portfolio, including launches of EPA/DHA algal oil and Galdieria Blue natural colorant.

Financial highlights

• Revenue rose to €13.4 million in 2025 from €11.5 million in 2024, a 17% increase.

• Gross margin declined to 17% from 22% due to pricing strategy and higher share of low-margin aquaculture sales.

• Operating loss stable at €9.4 million; net loss improved to €9.4 million from €12.9 million.

• Cash and cash equivalents at year-end were €6.6 million, with financial debt reduced to €5.0 million.

Outlook and guidance

• Targeting €20 million in revenue by 2026, supported by new product launches and expanded market reach.

• Anticipates accelerated growth in the second half of 2026 as new products gain traction.