Logic Instrument (ALLOG) H2 2025 earnings summary

Executive summary

• Revenue grew 42% year-over-year to €38.8M in 2025, marking the fourth consecutive year of strong growth.

• Net income remained stable at €1.2M for 2025.

• Order backlog exceeded €30M, providing strong visibility for future growth.

Financial highlights

• Gross margin increased 24% to €9.4M, though gross margin rate declined from 28% to 24% due to component price pressures and scope changes.

• Operating expenses rose 39% to €8.2M, driven by acquisitions and investments in the Tempest program.

• Operating income fell 29% to €1.2M, representing 3% of revenue.

• Cash position improved by €3.3M (+61%), and equity increased by €4.4M (+68%).

Outlook and guidance

• Targeting to double revenue and surpass €75M in 2026, especially in the defense sector.

• Backed by a robust financial base and a record order book, with plans to accelerate growth in Germany.

• New factory launch in Essonne (Igny) to support industrialization and the Tempest project.