Growens (GROW) Q4 2025 earnings summary

Executive summary

• Consolidated revenues reached EUR 77.4 million for FY2025, up 4% year-over-year, driven by strong segment performance and international sales, with SaaS revenues growing 17% and CPaaS up 3%.

• EBITDA returned to positive at EUR 2.5 million versus negative EUR 0.1 million in FY2024, driven by a 16% increase in gross profit.

• Agile Telecom led revenue generation with EUR 61.8 million (+2%), while Beefree posted the fastest growth at +24% (constant FX).

• Maintained flexible strategy amid unstable economic and geopolitical conditions, delivering on market guidance.

• The Board reviewed the 2025 Sustainability Report, adopting new ESRS standards for ESG reporting.

Financial highlights

• Gross profit rose nearly 16% to EUR 20.5 million, with gross margin at 26.5%.

• SaaS segment (Beefree) grew 17.4% to EUR 14.8 million; CPaaS (Agile Telecom) up 2.8% to EUR 61.7 million.

• EBITDA margin improved to 3.3% from negative in the prior year.

• Positive net financial position over EUR 11 million cash, with total liquid assets at EUR 15.5 million.

• Individual holding company net profit was EUR 1.3 million, with revenues down 3% due to one-off items in 2024.

Outlook and guidance

• Guidance for EBITDA and margins confirmed; sales and ARR outlook remains subject to geopolitical uncertainties.

• Rule of 40 strategy focuses on revenue growth with stable costs; cost control and gross margin improvements evident.

• No current signals requiring revision of outlook; ongoing monitoring of market conditions.

• Management remains focused on innovation and flexibility amid unstable economic and geopolitical conditions, aiming to capture growth opportunities and deliver on guidance.