Tonies (TNIE) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue surged 52.3% year-over-year to EUR 145.2m, driving 9M revenue up 32.9% to EUR 321.8m (constant currency), propelled by the global launch of Toniebox 2 and Tonieplay, and expansion into new categories and geographies.

• Achieved 33% year-over-year group revenue growth YTD 2025, with international markets now comprising up to 60% of revenue.

• Over 10 million Tonieboxes and 134 million Tonies figurines sold globally, with activations in over 100 countries.

• Strategic innovation and partnerships, notably with Hasbro, are expanding the platform's reach and product offerings.

• Global brand visibility increased through major multimedia campaigns and high-profile partnerships.

Financial highlights

• Group revenue for 9M 2025 reached EUR 321.8m (cc), up from EUR 242.1m in 9M 2024; Q3 revenue grew 52% YoY to EUR 145.2m.

• DACH region revenue up 15.6% to EUR 132.1m; North America up 36% to EUR 125.3m; Rest of World up 80.4% to EUR 64.4m (all cc).

• Tonieboxes revenue rose 24.7% YoY to EUR 72.7m; Tonies figurines up 36.1% to EUR 236.0m; Accessories & Digital up 26.2% to EUR 13.0m.

• International revenues (outside DACH) rose to 59–60% of total, up six percentage points year-over-year.

• Tonies category revenue grew 36% year-over-year, driven by new products and licensing partnerships.

Outlook and guidance

• FY 2025 guidance confirmed: group revenue expected to exceed EUR 600m (+25% YoY), North America revenue to grow >30% YoY, and adjusted EBITDA margin targeted at 6.5–8.5%.

• Over 50% of FY 2025 revenue guidance already achieved in the first nine months; Q4 anticipated to be the strongest quarter, with nearly half of annual revenues typically generated.

• Guidance is subject to global tariff and trade environment.