Largo (ALLGO) Q3 2025 TU earnings summary

Executive summary

• Revenue reached €23.8M as of 30/09/2025, with Q3 at €9.4M, mainly driven by operator channels.

• Strategic partnerships renewed and expanded with major distributors and operators, including Orange, FNAC Darty, Bouygues Telecom, and DROM-TOM operators.

• Strategic reorganization initiated to lower the break-even point, focusing on profitable and repairable product lines and cost structure reduction.

Financial highlights

• H1 2025 revenue at €14.5M, down 9% from H1 2024.

• Gross margin improved to 21.1% in H1 2025 from 20% in H1 2024.

• EBITDA at -€1.52M and operating result at -€1.76M, both stable year-over-year; net result for H1 2025 was a loss of €1.8M.

• Cash position of €3.9M as of 30/06/2025, following a €3M capital raise in June.

Outlook and guidance

• Continued commercial momentum expected, leveraging end-of-year peak periods and new partnerships.

• Focus on cost reduction and profitability through strategic reorganization and product range rationalization.

• Ongoing optimization of resource allocation and cost structure to support future profitability.