Qualitau (QLTU) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached $28.1M, up 37% year-over-year; Q2 revenue was $14.1M, up 29% from Q2 2024.

• Net income for H1 2025 was $12.1M, nearly double the $6.1M from H1 2024; Q2 net income was $6.4M, up from $3.1M in Q2 2024.

• Gross margin improved to 71% in H1 2025 from 67% in H1 2024.

• Order backlog as of June 30, 2025, was $49.3M, compared to $24.8M a year earlier.

Financial highlights

• Operating income for H1 2025 was $13.1M, up from $7.5M in H1 2024.

• Basic EPS for H1 2025 was $2.74, up from $1.40 in H1 2024; diluted EPS was $2.62, up from $1.33.

• Cash and equivalents at June 30, 2025, were $35.3M, down from $38.0M at year-end 2024, mainly due to dividend payments and share buybacks.

• Equity stood at $47.9M at June 30, 2025, compared to $56.1M at year-end 2024.

Outlook and guidance

• Management expects new US tariffs on imported raw materials to have a limited impact on 2025 gross margins due to inventory management, but anticipates cost pressures in 2026.

• Steps are being taken to adjust sales prices to offset expected cost increases in 2026.