Plurilock Security (PLUR) Q4 2025 earnings summary

Executive summary

• Achieved 5% year-over-year consolidated revenue growth to $61.0M for fiscal 2025, driven by strong performance in Critical Services and professional services.

• Critical Services revenue grew 48% year-over-year to $12.6M, now representing 20.8% of total revenue with a 28% gross margin.

• EBITDA loss improved by 45% year-over-year, narrowing to $(5.5)M, reflecting ongoing operational streamlining and cost discipline.

• Net loss for the year was $(7.3)M, a significant improvement from $(11.5)M in the prior year.

Financial highlights

• Total revenue for 2025 was $60.99M, up from $58.15M in 2024, with growth in professional services offsetting lower hardware sales.

• Professional services revenue rose to $12.65M from $8.57M year-over-year; hardware sales declined to $6.14M from $8.76M.

• Software, license, and maintenance sales increased to $42.19M from $40.82M year-over-year.

• Gross margin decreased to 10.9% from 12.2% year-over-year.

• Cash and cash equivalents at year-end were $2.56M, up from $1.42M in 2024.

Outlook and guidance

• Focus remains on expanding high-margin Critical Services and converting one-time engagements into recurring, long-term contracts.

• Continued emphasis on operational efficiency, cost management, and margin expansion to drive toward profitability and cash-flow positivity.

• Anticipates sustained demand from defense and security investments in Canada and NATO-aligned markets.