Agile Content (AGIL) H1 2025 earnings summary

Executive summary

• Net content revenue reached €22.4M, up 6% year-over-year, with gross margin rising from 76% to 85% due to improved sales mix and cost control.

• EBITDA increased by 35% to €5.1M, driven by higher sales and better margins.

• Operating free cash flow (OFCF) multiplied ninefold to €2.8M, reflecting improved cash generation and working capital management.

• Major contracts signed with Vodafone España (Lowi) and Liwest in Austria, and new platform launches in Spain, Austria, Finland, and the US.

Financial highlights

• Gross revenue: €41.0M (+1.3% year-over-year); net content revenue: €22.4M (+5.7%).

• EBITDA: €5.1M (+35.3%); OFCF: €2.8M (x9 year-over-year).

• Gross margin on net content revenue improved to 85% (+9 p.p.).

• Net financial debt (NFD) increased to €33.2M due to lower cash at period end.

• Share price declined 20.7% in H1 2025, ending at €2.3 per share with a market cap of €53M.

Outlook and guidance

• H1 results represent 48% of annual net content revenue and 44% of EBITDA guidance, with higher revenue expected in H2.

• Company remains confident in meeting year-end targets for revenue, EBITDA, and OFCF.

• Focus on expanding recurring revenue through TVaaS and international growth, especially in the US and Europe.