Optomed (OPTOMED) Q2 2025 earnings summary

Executive summary

• H1 2025 revenue grew 15.1% year-over-year to €7.87M, with Devices up 49.5% and Software up 1.3%.

• EBITDA loss narrowed to -€1.66M (9.6% improvement); margin improved to -21.1% from -26.8%.

• Gross margin declined to 66.0% from 68.3% due to product mix.

• Optomed Lumo, a next-generation AI-enabled handheld device, launched with FDA PJZ classification and positive feedback.

• Cash and cash equivalents at period end were €7.1M, with a strong equity ratio of 74.9%.

Financial highlights

• Q2 2025 revenue: €3.85M, up 9.7% year-over-year; Devices up 31.3%, Software flat.

• H1 2025 EBITDA: -€1.66M (9.6% improvement); EBIT: -€2.9M; net loss: -€3.23M; EPS: -0.16.

• Q2 EBITDA: -€0.92M (22.3% improvement); net loss: -€1.64M (8.3% improvement); EPS: -0.08 (18.1% improvement).

• Cash flow from operating activities was -€1.3M in H1 2025, impacted by inventory build-up.

• Net debt reduced to -€5.3M from -€9.2M year-over-year.

Outlook and guidance

• Full-year 2025 revenue expected to grow strongly versus 2024, driven by AI adoption and new partnerships; outlook unchanged.

• Several probable mid-sized capex orders anticipated in H2 2025, supporting guidance.

• Devices segment supported by strong H1 and robust CAPEX sales pipeline for H2.

• Software segment growth constrained by market environment and challenges in forecasting large deals.