Bilendi (ALBLD) Q4 2025 TU earnings summary

Executive summary

• Achieved €91.5 million in 2025 turnover, up 42.2% year-over-year, driven by international expansion and the Netquest acquisition.

• Integrated Netquest, expanding scale, global reach, and operational capabilities.

• Accelerated adoption of artificial intelligence, launching an upgraded AI-native research platform in January 2026.

Financial highlights

• 2025 revenue reached €91.5 million, up 42.2% from 2024; at constant exchange rates, growth was 42.3%.

• International revenue (83% of total) rose 52.0% to €75.7 million; France revenue (17% of total) increased 8.7% to €15.8 million.

• Second half France revenue grew 16.9% after a stable first half.

• Pro forma revenue growth, assuming full-year Netquest consolidation, estimated at 1.3% at constant exchange rates.

• EBITDA margin expected to increase for the year.

Outlook and guidance

• Positive momentum expected to continue, with increased EBITDA margin and further international expansion.

• New strategic direction to be unveiled in April 2026 with annual results.