Cloudia Research (AGAIN) H1 2025 earnings summary

Executive summary

• Consolidated revenue for H1 2025 reached €4.4 million, up 4% year-over-year, with growth in 'finance and operations' (+18%) and 'innovation' (+50%) segments, while 'business central' remained stable.

• Half-year revenues increased by 16% compared to normalized 2024, excluding IPO bonus.

• Net result for H1 2025 was a loss of €182 thousand, compared to a profit of €332 thousand in H1 2024, mainly due to increased personnel investments and higher amortization.

• EBITDA for H1 2025 was €270 thousand (6% of revenue), down from €498 thousand (12%) in H1 2024, reflecting higher personnel costs as headcount rose from 91 to 114.

• Strategic investments in AI and digitalization totaled €817,000, including the opening of an Innovation Hub in Valencia focused on AI and cloud solutions.

Financial highlights

• Revenue: €4.4 million (+4% year-over-year).

• EBITDA: €270 thousand (6% margin), down from €498 thousand (12% margin) in H1 2024.

• Net loss: €182 thousand, compared to a net profit of €332 thousand in H1 2024.

• Personnel costs increased by €482 thousand to €3 million, driven by workforce expansion.

• Net financial position improved to €1.35 million cash from €0.33 million at December 2024.

Outlook and guidance

• The company expects continued growth in digital transformation demand, with ongoing investments in cloud and AI to strengthen its position in the Italian and international ICT markets.

• Strategic focus on expanding service portfolio, staff training, and international markets.

• Rising costs from global conflicts are being managed by passing increases to clients.