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Making Science Group (MAKS) investor relations material
Making Science Group Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved €374M in revenue for FY 2025, up 36% year-over-year, driven by international expansion and growth in service activity, with recurring EBITDA stable at €14M.
Significant international growth, with new offices in Brazil, Argentina, Germany, and the Netherlands, and a joint venture in Germany; international revenues surpassed Spain, with €216M versus €147M, driven by strong U.S. and U.K. growth.
Sale of the Cloud and Cybersecurity unit (BL2) to Lutech for up to €26M, enabling focus on core digital marketing and AI technology areas.
Workforce reduced to 826 employees post-divestment, with operational efficiencies from AI adoption.
Recognized for innovation and as a top employer, with awards from YouTube, Google, and El Mundo.
Financial highlights
Revenue increased by 36% to €374M in FY 2025 compared to FY 2024.
Gross margin rose 5% to €74.8M, with profitability maintained around 19–20%.
Core business revenue grew 38% to €363.3M, with gross margin up 7.7% to €72.2M.
International segment revenue surged 70% to €216M, with recurring EBITDA up 24% to €5.2M.
E-commerce and product investments saw a 10% revenue decline and a 54% drop in recurring EBITDA, reflecting tariff impacts.
Outlook and guidance
2026 expected to deliver profitable, sustained growth, leveraging AI-driven products and regional hubs.
2025 guidance suspended following the divestment; updated strategic plan to be communicated.
Expecting one-third of results from Spain, U.S., and other geographies each, with continued international growth and operational efficiency.
Focus remains on profitability, cash flow, debt reduction, and cost optimization.
- H1 2025 revenue up 40% to €174.6M, recurring EBITDA €7.7M, international share at 60%.MAKS
Q2 20252 Nov 2025 - Recurring EBITDA nearly doubled in H1 2024, led by strong Spain and international growth.MAKS
Q2 202411 Jul 2025 - Recurring EBITDA up 94% to €10.6M in 9M24, with robust growth and margin expansion.MAKS
Q3 202411 Jul 2025 - 2024 saw 16% revenue growth and 71% EBITDA surge, with strong international momentum.MAKS
Q4 202411 Jul 2025 - Record Q1 2025 EBITDA and 33% revenue growth driven by strong international expansion.MAKS
Q1 202511 Jul 2025 - Record Q1 2025 EBITDA and rapid international growth highlight strong execution and AI-driven strategy.MAKS
Investor Presentation11 Jul 2025
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Next Making Science Group earnings date
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