LightOn (ALTAI) H2 2025 earnings summary

Executive summary

• Revenue grew 54% year-over-year to €1.74 million, driven by nearly tripled Paradigm license sales.

• Investments in commercial deployment and ongoing innovation led to higher costs and a net loss.

• Maintained a sound financial structure despite increased expenses and net cash decline.

• Anticipates growth in 2026, supported by rising demand and new use cases.

Financial highlights

• Revenue: €1.74 million in 2025, up from €1.13 million in 2024.

• Gross margin improved to 29% from 28% year-over-year.

• EBITDA deficit widened to -€9.1 million from -€5.9 million.

• Net result: loss of €7.4 million, compared to €4.8 million loss in 2024.

• Net cash at year-end: €3.8 million, down from €11.9 million.

Outlook and guidance

• Expects gradual improvement in hardware access and accelerated AI adoption in Europe for 2026.

• Anticipates transition to profitability by end of 2026.

• Growing demand for sovereign AI solutions in Europe and the Middle East.