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Edge20 Mar 2026
Tetra Pak: The Shape of Innovation
The story of Tetra Pak, the Rausing family, and how a paper tetrahedron gave rise to a company that now delivers almost 180 billion packages a year.
Maximum Entertainment
Maximum Entertainment (MAXENT) investor relations material
Maximum Entertainment Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary31 Mar, 2026
Executive summary
Q4 2025 net sales declined 30% year-over-year to €17.8M, mainly due to cash restrictions impacting inventory and sales cycles.
Gross margin fell to 22% from 31% as the business shifted focus from Owned IP to licensed and sub-publishing.
Adjusted EBITDA was breakeven for Q4, down from €3.7M in Q4 2024; full-year adjusted EBITDA was €1.4M, down from €6.8M.
The company entered a restructuring term sheet with a key lender to address ongoing financial and operational challenges.
Board resolved to prepare a balance sheet for liquidation purposes after equity fell below half of registered share capital.
Financial highlights
Q4 2025 net sales: €17.8M (Q4 2024: €25.5M); full-year 2025: €62.1M (2024: €80.0M).
Q4 gross margin: 22% (Q4 2024: 31%); full-year: 25% (2024: 30%).
Q4 adjusted EBITDA: €0.0M (Q4 2024: €3.7M); full-year: €1.4M (2024: €6.8M).
Q4 EPS: -€1.30 (Q4 2024: -€0.09); full-year EPS: -€1.82 (2024: -€0.53).
Q4 cash flow from operations: -€0.1M (Q4 2024: €8.1M); year-end cash: €2.1M (2024: €6.1M).
Outlook and guidance
Focus for 2026 is on completing financial restructuring and rebuilding business foundations.
New partnerships and major IP launches (Winx, Starship Troopers, Thomas and Friends) expected in 2026.
Cost optimization and headcount reduction to continue.
Timeline for the liquidation control meeting
Maximum Games earn-out arbitration update
Impact of sub-publishing shift on gross margins
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Latest events from Maximum Entertainment
- Gross margin rose to 34% and adjusted EBITDA increased 15% YTD, with H2 set for major launches.MAXENT
Q2 20243 Feb 2026 - Net sales fell 26% to €25.5M amid restructuring, with legal and financing risks ongoing.MAXENTQ4 20243 Feb 2026
- Sales and margins fell, but adjusted EBITDA improved; urgent financing and legal risks persist.MAXENTQ3 20255 Nov 2025
- Sales and margins fell sharply, with liquidity and legal risks dominating the outlook.MAXENTQ2 202513 Aug 2025
- Q3 2024 marked by lower sales, major impairments, and urgent financial restructuring.MAXENTQ3 202413 Jun 2025
- Sales fell sharply and legal, financial risks persist despite cost cuts and new releases ahead.MAXENTQ1 20256 Jun 2025
Next Maximum Entertainment earnings date
Q1 202627 May, 2026
Maximum Entertainment
Next Maximum Entertainment earnings date
Q1 202627 May, 2026
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excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
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@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
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