LeadDesk (LEADD) Q2 2025 earnings summary

Executive summary

• Revenue grew 26.4% year-over-year in H1 2025, reaching €19.5 million, driven by Zisson, Cision, and eDialog24 acquisitions and strong organic growth in Spain, Finland, and the Netherlands.

• EBITDA margin reached 14% in H1 2025, supported by acquisitions, operational improvements, and upmarket transition.

• Strategic focus remains on profitable growth in the Nordics and accelerated expansion in continental Europe, with a two-phase approach: first profitability, then growth.

• Over a third of customers are using AI services, with new AI products like AI Insights and Voicebot in development and pilots advancing.

• Integration of Zisson and Cision is proceeding as planned, stabilizing revenue and enabling cross-selling, especially in Finland, Norway, and the Nordics.

Financial highlights

• H1 2025 revenue: €19.5 million (up 26.4% year-over-year); ARR at €34.2 million, up 28.1% on a comparable currency basis.

• EBITDA for H1 2025: €2.74 million (14.0% margin), up from €2.08 million (13.4%) in H1 2024.

• Operative cash flow increased by €400,000 in H1, with operating cash flow after interest and taxes at €2.95 million.

• Equity increased by €2 million, mainly from a directed share issue to Cision owners; equity ratio at 43.2%.

• Net debt/EBITDA remains around 2, with net debt at €11.2 million after acquisitions.

Outlook and guidance

• Guidance for 2025 remains unchanged: revenue growth of 23%-33% and EBITDA margin of 14%-19%.

• Profitability expected to strengthen in H2 2025 as cost synergies from Zisson and Cision integrations become more visible.

• Focus remains on upmarket transition in the Nordics and disproportionate growth in continental Europe.