DonkeyRepublic Holding (DONKEY) Q1 2025 earnings summary

Executive summary

• Q1-2025 revenue reached DKK 26.4M, up 28% year-over-year, with growth balanced between rider and B2G/B2B streams.

• EBITDA improved to DKK -6.3M, reflecting higher operational costs from fleet expansion and investments.

• Rider revenue rose to DKK 14.0M, driven by higher fleet utilization and e-bike usage, especially in cities like Copenhagen, Antwerp, and Geneva.

• B2G/B2B revenue increased to DKK 11.0M, supported by full ramp-up in Hannover and growth in Belgium.

• Number of trips grew 39% to 1.4M, and active fleet size expanded 9% to 21.6K bikes.

Financial highlights

• Revenue: DKK 26.4M in Q1-2025, up 28% from Q1-2024.

• EBITDA: DKK -6.3M, an improvement of DKK 0.3M year-over-year.

• Monthly revenue per bike increased 17% to DKK 407.

• Riders reached 166K, up 30% year-over-year.

• Trips totaled 1.4M, up 39% from Q1-2024.

Outlook and guidance

• 2025 guidance reaffirmed: revenue DKK 165M–185M, EBITDA DKK 27M–37M, EBIT DKK 1M–6M.

• Anticipates strong profitability increase in coming quarters due to seasonal revenue trends and operational leverage.