Datalogic (DAL) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 was €359.4 million, down 1.9% year-over-year (0.5% net FX), with Q3 revenues at €118.4 million, down 2.8% from Q3 2024; EMEAI growth offset declines in Americas and APAC.

• Adjusted EBITDA for 9M 2025 was €33.9 million (9.4% margin, +1.8 pp), with Q3 at €13.2 million (11.1% margin, +1.0 pp); adjusted EBIT more than doubled to €9.8 million (2.7% margin).

• Net profit for 9M 2025 was €1.2 million (0.3% margin), reversing a €5.8 million loss in 2024, excluding prior year capital gain.

• Gross margin improved to 42.8% for 9M 2025 (+1.5 pp year-over-year), driven by productivity and positive mix.

• Acquisition of Datema Retail Solutions AB completed in April 2025, expanding software capabilities.

Financial highlights

• Gross operating margin for 9M 2025 was €153.9 million (42.8% of sales), up from €151.2 million (41.3%) in 2024.

• R&D expense increased 4.1% to €48.5 million, 13.3% of sales.

• Distribution and administrative expenses decreased by 4.0% and 5.6%, respectively.

• Net financial debt increased to €34.9 million at September 2025, mainly due to acquisition and working capital needs.

• Net trade working capital rose to €71.5 million (14.7% of sales), up €7.1 million from December 2024.

Outlook and guidance

• Full-year revenue is expected to be broadly in line with the prior year, with slightly improved profitability, assuming no further tariff changes.

• EMEAI is projected to maintain growth, while Americas is anticipated to recover from next year.