Telsys (TLSY) Q4 2025 earnings summary

Executive summary

• Revenue grew to $148.8M in 2025, up 40% year-over-year, driven by strong growth in both SOM and distribution segments.

• Net income attributable to shareholders reached $36.5M, a 39% increase from 2024.

• The company completed the acquisition of 100% of Variscite, consolidating all SOM operations.

• Dividend distributions totaled $40M in 2025, following $32.2M in 2024.

Financial highlights

• SOM segment revenue: $80.3M in 2025, up 6% year-over-year; Distribution segment revenue: $56M, up 84%.

• Gross profit: $68.2M (46% margin), up from $47.5M in 2024.

• Operating income: $54.7M; EBITDA not explicitly stated.

• EPS: $4.03 basic, $4.01 diluted, compared to $2.90 in 2024.

• Cash and equivalents at year-end: $22.4M; total assets: $114.1M.

Outlook and guidance

• Management expects continued sales growth in 2026, supported by a strong order backlog, especially from key customer Nvidia (Mellanox).

• SOM market expected to grow globally, with Variscite targeting further expansion and innovation.