Rolling Optics (RO) Q2 2025 earnings summary

Executive summary

• Revenue for Q2 2025 increased 44% year-over-year to 14,282 TKR, but net loss widened to -5,604 TKR from -2,391 TKR, mainly due to ongoing strategic investments in product development and capacity.

• Order intake and backlog declined significantly compared to the same period last year, reflecting longer sales cycles and market acceptance delays, especially in the High Security segment.

• Cash position at period end was 39,141 TKR, with no debt, and the company maintains a strong equity ratio of 71.6%.

• The CFO announced departure effective December 2025.

Financial highlights

• Q2 net sales: 14,282 TKR (up 44% year-over-year); H1 net sales: 21,053 TKR (up 12% year-over-year).

• Q2 net loss: -5,604 TKR (vs. -2,391 TKR last year); H1 net loss: -11,813 TKR (vs. -6,448 TKR last year).

• Operating cash flow for Q2: -9,264 TKR; H1: -11,865 TKR.

• Cash at period end: 39,141 TKR (vs. 35,801 TKR last year).

• No interest-bearing debt; net cash position remains strong.

Outlook and guidance

• Management continues to invest in product and process development, expecting longer lead times for market acceptance, especially in the banknote security segment.

• Liquidity is considered sufficient for at least the next 12 months under the current strategic plan.