Eagle Filters Group (EAGLE) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 increased by 59% year-over-year to EUR 691 thousand, but EBITDA remained negative at EUR -476 thousand, though improved from the prior year.

• Order intake for Q3 decreased by 3% to EUR 858 thousand, with order backlog at EUR 1,296 thousand, down from EUR 3,307 thousand last year.

• New orders exceeding EUR 2.0 million were secured after the review period, and EUR 2.3 million in won bids are not yet included in backlog.

• Automation and robotics investments were completed, and a EUR 1.3 million product development project application was filed.

• Additional funding will be needed in Q4 2025 to support working capital and liquidity.

Financial highlights

• Q3 revenue rose 59% year-over-year to EUR 691 thousand; nine-month revenue fell 49% to EUR 2,581 thousand.

• Q3 EBITDA improved to EUR -476 thousand from EUR -1,403 thousand; nine-month EBITDA was EUR -2,121 thousand.

• Q3 operating result was EUR -781 thousand; nine-month operating result was EUR -3,000 thousand.

• Q3 net result was EUR -933 thousand; nine-month net result was EUR -3,619 thousand.

• Earnings per share for Q3 was EUR -0.00; for nine months, EUR -0.02.

Outlook and guidance

• Long-term targets for the main subsidiary are >30% average annual revenue growth and >20% EBITDA margin.

• No short-term outlook published; management does not expect geopolitical instability to impact long-term targets.