NowVertical Group (NOW) Q4 2025 earnings summary

Executive summary

• Achieved $37.4 million in FY2025 revenue, with 67% from top 30 strategic accounts, up from 55% in FY2024.

• EBITDA reached $7.2 million for FY2025, maintaining a 19% EBITDA margin and 50% gross margin.

• Significant growth in Google Cloud (36%) and integration revenues (69%) year-over-year.

• Completed integration of acquired brands under the One Brand strategy, consolidating operations and systems.

• Launched NowUnlock AI to drive scalable, repeatable client outcomes and measurable operational and financial results.

Financial highlights

• FY2025 revenue was $37.4 million, with Q4 revenue at $9.7 million; revenue declined year-over-year due to FX impacts in Argentina, lower reseller revenue in Brazil, and Chile restructuring.

• EBITDA remained stable at $7.2 million (19% margin); gross profit margin held at 50%.

• Solutions & Services accounted for 83% of revenue, with 65% from LATAM and 35% from North America and EMEA.

• Product and reselling revenue declined from $8.3 million to $6.2 million.

• Q4 operational cash flow was $2.9 million, with full-year cash outflows due to one-time payments.

Outlook and guidance

• Positioned for growth in the expanding AI services market, focusing on enabling and applying AI for enterprise clients.

• Growth investments prioritized for 2026, especially in North America and EMEA, with expected results in three to four quarters.

• NowUnlock AI expected to become an independent P&L over time, driving repeatable, scalable solutions.

• Focus on accelerating growth through strategic revenue and deepening partner relationships.

• Profitable operations and a balance sheet with optionality are key priorities for 2026.