Largo (ALLGO) Q1 2025 TU earnings summary

Executive summary

• Revenue for Q1 2025 reached €7.8 million, aligning with forecasts and reflecting a solid start to the year.

• Q1 is typically the weakest quarter due to seasonality, with the year-over-year decline attributed to an unusually high Q1 2024 from deferred orders.

• Commercial momentum continues, especially through operator channels and largo.fr, supported by strategic partnerships.

Financial highlights

• Q1 2025 revenue was €7.8 million, down 17% from Q1 2024 but double Q1 2023's €3.9 million.

• Operator channel contributed 67% of Q1 2025 revenue, up from 47% in Q1 2024.

• Marketplace and largo.fr accounted for 22%, while B2B/B2C distribution made up 11%.

Outlook and guidance

• Acceleration of sales is expected in the coming quarters, with continued growth in 2025.

• Full-year benefit anticipated from new partnerships with Bouygues Telecom and Orange Pologne.

• Ongoing focus on profitable growth and operational efficiency.