lastminute.com (LMN) Q3 2025 earnings summary

Executive summary

• Achieved strong Q3 and nine-month results, with high-teens revenue growth and significant EBITDA expansion, driven by disciplined growth, enhanced profitability, and organizational efficiency.

• Growth across all core categories, with improved unit economics, cost discipline, and effective marketing strategies.

• Strategic focus on discontinuing the underperforming Cruise division to concentrate on scalable, profitable core segments; trademarks and domains sold.

• Upgraded full-year Adjusted EBITDA guidance to around 20% growth, with a three-year outlook targeting €450 million in revenues and over €70 million in Adjusted EBITDA by 2028.

Financial highlights

• Q3 2025 revenues reached €101.3 million, up 17% year-over-year; nine-month revenues at €284.1 million, up 13%.

• Adjusted EBITDA for Q3 was €17.2 million (+35% YoY); nine-month Adjusted EBITDA at €46.1 million (+29% YoY).

• Net result for Q3 was €1.9 million (EPS €0.18), down 67% YoY due to non-recurring items; underlying net result would have been higher excluding cruise-related charges.

• Free cash flow over the last twelve months improved to €16.4 million from €0.4 million a year ago.

• Gross profit for Q3 rose 9% to €37.8 million; gross margin declined to 37.3% in Q3 (from 39.9% in Q3 2024).

Outlook and guidance

• Upgraded full-year 2025 Adjusted EBITDA guidance to around 20% growth; revenues expected in the low double-digit range.

• Three-year outlook targets €450 million in revenues and over €70 million Adjusted EBITDA by 2028.

• Focus remains on profitable organic growth, with selective M&A to support innovation.