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Spineway (ALSPW) investor relations material
Spineway Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue increased by 4% year-over-year to €12.4 million, driven by geographic diversification and new product launches.
Gross margin improved to 69.6% of revenue, up 0.6 percentage points from the previous year.
Operating loss remained stable at €2.1 million, reflecting controlled expenses despite ongoing regulatory investments.
Net loss narrowed by €1.6 million year-over-year to €2.2 million, aided by lower financial expenses and normalized tax credits.
Cash position at year-end was €3.5 million, with net cash of €2 million after debt.
Financial highlights
Revenue: €12.4 million in 2025, up from €11.95 million in 2024.
Gross margin: €8.6 million (69.6% of revenue), up from €8.25 million (69.0%) in 2024.
Net operating expenses: €10.8 million, up 5% year-over-year (pro forma).
Operating loss: €2.1 million, nearly unchanged from €2.0 million in 2024 (pro forma).
Net loss: €2.2 million, improved from €3.9 million in 2024.
Outlook and guidance
Regulatory expenses are expected to increase further in 2026 due to ongoing approvals and clinical studies.
Continued investment in R&D, marketing, and regulatory affairs to support growth ambitions.
- 2025 revenue rose 4% to €12.4M, with Q4 up 34% on strong global sales and deferred orders.ALSPW
Q4 2025 TU13 Jan 2026 - Q3 2025 revenue jumped 18% year-over-year, led by Premium products and export growth.ALSPW
Q3 2025 TU14 Oct 2025 - Net loss narrowed by €2 million in H1 2025, with growth target and strong cash position maintained.ALSPW
H1 202530 Jul 2025 - Revenue up 21% year-over-year to €9.1M, led by strong international growth.ALSPW
Q3 2024 TU13 Jun 2025 - Revenue up 20% and operating loss narrows as cost savings and export growth continue.ALSPW
H1 202413 Jun 2025 - Q1 2025 revenue fell 8% year-over-year, but export sales outside Europe rose 9%.ALSPW
Q1 2025 TU6 Jun 2025 - Revenue up 14% and net loss nearly halved, driven by acquisitions and cost controls.ALSPW
H2 20246 Jun 2025 - Spineway achieved 14% revenue growth in 2024, led by strong international expansion.ALSPW
Trading Update5 Jun 2025
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