Redegal (SCRDG) Q4 2025 earnings summary

Executive summary

• Revenue grew 22.4% year-over-year to €16.83M, with strong expansion in Digital Business and Product segments.

• Adjusted EBITDA rose 137.8% to €1.55M, with margin improving from 4.7% to 9.2%.

• The company transitioned from BME Scaleup to BME Growth, enhancing transparency and governance.

• International presence consolidated in 9 countries, with new clients and product launches in Europe and Mexico.

Financial highlights

• Digital Business revenue: €12.61M (+21.7% YoY), Tech: €3.53M (+5.5%), Product: €0.68M (+n.s.).

• Gross margin: 41.4% (+4.2 p.p. YoY); on net revenue (ex-media buying): 97.7%.

• Adjusted EBIT: €803K (vs. €-198K in 2024), Adjusted Net Income: €0.5M (+55.5% YoY).

• Free cash flow: €-579.9K, impacted by working capital needs and investments.

• Net financial debt: €2.6M (DFN/EBITDA adj. 2.75x), with 50% long-term.

Outlook and guidance

• 2028 targets: revenue €22.6M, adjusted EBITDA €4.4M; Product to reach €3.8M revenue.

• Focus on organic and inorganic growth, international expansion, and margin improvement.

• Guidance based on sector trends, stable macro, and continued client retention.