Broadpeak (ALBPK) H1 2025 earnings summary

Executive summary

• Revenue grew 26.2% year-over-year in H1 2025, with acceleration in Q2 due to a major Cloud PVR contract with a European operator.

• Recurring revenue accounted for 44.4% of total, reflecting a shift toward SaaS and maintenance.

• Profitability improved significantly, with positive EBITDA of €0.8m versus a loss of €4.2m in H1 2024.

• Net loss narrowed to €1.5m from €4.4m year-over-year.

Financial highlights

• Revenue reached €21.7m, up from €17.2m in H1 2024.

• Gross margin was €17.0m (78.6% of revenue), slightly down from 80.6% in H1 2024.

• Adjusted EBITDA was €2.9m, compared to -€1.9m a year earlier.

• Operating loss reduced to €2.9m from €6.6m.

Outlook and guidance

• 2025 targets: revenue growth and positive EBITDA reaffirmed.

• 2027 targets: revenue above €50m, 50% recurring revenue, and EBITDA margin around 15%.

• Management expects continued sales momentum and innovation to support growth.