Revenio Group (REG1V) Q3 2025 earnings summary

Executive summary

• Q3 2025 net sales reached EUR 25.9 million, up 8.1% year-over-year (8.7% currency-adjusted), with strong growth in Europe, especially France, Germany, and the UK, and robust US sales in local currency but impacted by FX headwinds.

• Operating profit for Q3 was EUR 6.0 million, up 9.1%, and adjusted operating profit increased by 11%-11.5% for the quarter and 16.1% year-to-date.

• New product launches included the iCare ALTIUS data management platform in the US and the MAIA microperimeter, both contributing to growth.

• APAC sales underperformed due to euro strength against local currencies.

• Profitability remained strong, with EBITDA up 7.3% to EUR 7.2 million and EPS at EUR 0.173 for the quarter.

Financial highlights

• Year-to-date net sales were EUR 78.5 million, up 7.5% reported and 9.1% currency-adjusted.

• Gross margin for Q3 was 71.5% (up from 69.1%), and for the nine months, 72.2% (up from 70.2%).

• Cash flow from operations in Q3 was EUR 3.0 million, and for the nine months, EUR 14.4 million.

• EPS increased in Q3, with minimal financial expenses due to stable FX rates.

• Balance sheet remains strong and unleveraged, with equity ratio near 80% and net gearing negative.

Outlook and guidance

• Exchange rate-adjusted net sales for 2025 are expected to grow 6%-15% year-over-year, with profitability (excluding non-recurring items) to remain at a good level.

• Q4 is historically the strongest quarter, typically contributing over one-third of annual EBIT.

• Guidance remains unchanged, with strong expectations for Q4 performance.