Growens (GROW) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenues reached 18.0M EUR, up 6.5% year-over-year, with strong recovery in growth.

• Gross profit rose 48.4% to 4.8M EUR, and EBITDA improved to 0.3M EUR from -0.7M EUR, driven by margin gains.

• Beefree business unit led with 32.2% revenue growth, reflecting focus on SaaS and future investments.

• CPaaS revenues increased 2%, representing 79% of total revenues, while SaaS accounted for 21%.

• Foreign revenues were 13.1M EUR, 74% of total, slightly down 3% year-over-year.

Financial highlights

• Total revenues: 18.0M EUR (+6.5% vs. Q1 2024); Gross profit: 4.8M EUR (+48.4%).

• EBITDA: 0.3M EUR (+138.3% vs. Q1 2024); EBT: -0.8M EUR (negative, but improved).

• SaaS recurring revenues: 3.6M EUR (+32% year-over-year); ARR for Beefree: 16.1M USD as of March 2025.

• Agile Telecom revenues: 14.1M EUR (-2% year-over-year); Beefree revenues: 3.7M EUR (+32%).

• Gross margin for SaaS: 83%; Net Revenue Retention: 104%.

Outlook and guidance

• Focus remains on execution and operational solidity, with continued exploration of AI-driven opportunities.

• Future investments to concentrate on Beefree and SaaS growth.