Facephi Biometria (FACE) H1 2025 earnings summary

Executive summary

• Transitioned to a comprehensive, AI/ML-powered digital security platform, now serving over 350 clients in 30+ countries across 10 sectors, with high retention and sector diversification into insurance, pensions, and fintech.

• Achieved positive free cash flow for the first time, validating operational optimization and financial discipline.

• Strategic partnerships, including Eastnets and Hancom, enhance global reach, compliance, and fraud detection capabilities.

• Expansion focus is shifting from Latin America (still the largest market) to EMEA and APAC, with EMEA revenue and sector diversification accelerating.

• Shift from on-premise to SaaS/cloud-based solutions, with SaaS accounting for 85% of H1 2025 sales.

Financial highlights

• Revenue for H1 2025 reached €13.0m (constant currency), up from €11.7m in H1 2024; net revenue grew 7.9% year-over-year to €12.6m.

• EBITDA for the last twelve months was €3.8m, up from €1.0m in 2024; normalized EBITDA nearly break-even at -€0.2m in H1 2025.

• Gross margin improved from 60% to 80% year-over-year.

• Free cash flow reached breakeven or slightly positive over the last 12 months.

• Total contract value increased 50% year-over-year to €65.4m.

Outlook and guidance

• Revenue, EBITDA, and free cash flow are expected to grow, with FY2025 revenue forecasted at €36.4m (+26% YoY) and EBITDA at €7.4m (+618%).

• Revenue and EBITDA CAGR projected at 26% and 232% from 2024–2026.

• EMEA region revenue expected to increase tenfold in 2025; 75–80% of next year's sales assured through ARR of €28m.

• Partnership revenues targeted to reach 20% of total in 2025 and 50% by 2028.

• Free cash flow for FY2025 projected near breakeven, improving to €4.3m in 2026.