Optomed (OPTOMED) Q4 2025 earnings summary

Executive summary

• Full-year 2025 revenue grew 13.7% to €17.1 million, driven by strong Devices segment performance and US market growth, while Q4 revenue declined 5.6% due to a large non-recurring order in the prior year.

• Devices segment revenue surged 43.1% year-over-year, with significant US growth and recurring revenue from Aurora AEYE; Software segment revenue declined 2.5% due to lower non-healthcare consulting.

• EBITDA for 2025 was -€3.5 million, with a margin of -20.6%, reflecting operating leverage and cost discipline.

• A successful share issue in Q4 raised approximately €6 million, strengthening the balance sheet and supporting growth initiatives.

• Large recurring revenue base established for Aurora AEYE, with continuous growth and new product launches such as Lumo.

Financial highlights

• Q4 2025 revenue was €4.8 million, down 5.6% year-over-year; full-year revenue reached €17.1 million, up 13.7%.

• Q4 gross margin: 61.5% (down from 65.1%); full-year gross margin: 63.6%.

• Q4 EBITDA: -€1.3 million; full-year EBITDA: -€3.5 million.

• Net loss for 2025: -€6.6 million; EPS: -0.34.

• Cash and cash equivalents at year-end: €9.9 million.

Outlook and guidance

• Revenue is expected to grow in 2026 compared to 2025, supported by recurring US revenue and ongoing Lumo sales, despite continued uncertainty and reduced predictability.

• Growth uncertainties include weak software market in Finland, reduced visibility, and challenges in forecasting large capex deals.

• Geopolitical and forex risks remain.