Fermentalg (FALG) Q4 2025 TU earnings summary

Executive summary

• Achieved record revenue of €13.4 million in 2025, a 17% increase year-over-year, surpassing forecasts.

• Expanded product portfolio with launches of EPA/DHA ORIGINS™ and Galdieria Blue™, and advanced Carbon Works technology.

• Secured business financing and strengthened strategic partnerships, notably with Huvepharma.

Financial highlights

• 2025 revenue reached €13.4 million, up 17% from 2024.

• Gross financial debt reduced by over €6 million, including €4 million in convertible bonds redeemed in cash.

Outlook and guidance

• Targeting €20 million in revenue for 2026 and up to €50 million long-term, leveraging 2025 investments.

• Expects strong growth acceleration in 2026, driven by lipids and initial revenues from natural colorants.

• Operational break-even supported by Huvepharma’s financial backing, with up to €4 million in convertible bonds under discussion.

• Does not expect to achieve positive EBITDA in H2 2026.