Exosens (EXOSF) Q4 2025 Earnings Call Transcript

SA Transcripts158.56K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Exosens (EXOSF) Q4 2025 Earnings Call February 23, 2026 3:00 AM EST Company Participants Laurent SfaxiJerome Cerisier - CEO & DirectorQuynh-Boi Demey - Chief Financial Officer Conference Call Participants Aurelien Sivignon - ODDO BHF Corporate & Markets, Research DivisionAleksander Peterc - Bernstein Institutional Services LLC, Research DivisionDavid Perry - JPMorgan Chase & Co, Research DivisionSriram Krishnan - Deutsche Bank AG, Research DivisionValentin-Paul Jahan - Stifel, Nicolaus & Company, Incorporated, Research Division Presentation Operator Welcome to Exosens 2025 Full Year Results Presentation. [Operator Instructions] Now I will hand the conference over to Laurent Sfaxi, Head of Investor Relations, to begin today's call.

Laurent Sfaxi Good morning, everyone, and thank you for joining us today. I'm Laurent Sfaxi, Head of Investor Relations at Exosens. And I'm joined today by Jerome Cerisier, CEO; and Quynh-Boi Demey, CFO, who will present Exosens' full year performance and discuss our 2026 and new midterm outlook. This presentation will be followed by a Q&A session, during which we will be happy to take your questions. I will now hand over to Jerome. Jerome CerisierCEO & Director So in the second year following our IPO, we delivered a strong performance, exceeding our guidance across all metrics. First, growth. Our revenues reached EUR 468 million in 2025, up 22.1% compared with the previous year, outperforming our high-teens growth guidance. Second, profitability. Adjusted EBITDA amounted to EUR 151.6 million, representing a 26.6% increase ahead of our expectations of low 20s EBITDA growth. Our EBITDA margin reached a record high at 32.4% Third, cash generation. We generated EUR 57.3 million in free cash flow over the period, achieving 73.6% of cash conversion, fully in line with our 70% to 75% guidance range. So this strong performance enabled us to maintain a low leverage ratio of 1.3x adjusted EBITDA. So in 2025, we continue to sustain growth in the Defense and Surveillance market. We continue to invest in capacity expansion to preserve our leadership