(2026-01-29)
2025 results and 2026 objectives
"Netgem (Euronext Growth: ALNTG) announces consolidated revenue of €31.7 million in 2025 (€33.8 million in 2024) and a gross profit of €22.8 million in 2025 (€23.6 million in 2024).
Year recurring revenue grew by +3%, in accordance with the objectives announced in October 2025 and now represents nearly 77% of total revenue.
Revenue for the second half of 2025 grew by 6% compared to the first half. "
Key Achievements in 2025 & Outlook 2026
"(...)
The successful launch of Netgem PLEIO in the UK at the end of 2025, in B2C and with Altnets operators (BRSK, Connect Fibre, Voneus, WightFibre to date), confirmed the potential of this solution. Its deployment is expected to accelerate in 2026, via current service distributors and with new operators expected in the first half of the year:
France should also see positive momentum in 2026, particularly with the launch of the PLEIO solution by the operator Vialis. The Indian market, with the operator Jio, saw growth in the second half of the year, with favorable prospects for 2026.
(...)
The activity returned to growth in the second half of 2025, driven by the first significant revenues from the generative AI subtitling solution, TheSubtil.ai, and the renewal of major content preservation contracts.
This momentum is expected to continue in 2026 with the launch of new AI-based service offerings. Financial Strength
The Group's gross cash position stands at €5.9 million as of December 31, 2025. Based on this financial strength, the increasing momentum of growth drivers, and a business model now largely recurring,
Netgem approaches 2026 with confidence. Mathias Hautefort, CEO of the Netgem group, declared: « In 2025, we focused our efforts on renewing our product range to meet the rapid evolution of digital content consumption patterns.
Netgem is thus positioned as the trusted European partner for publishers and telecom operators in enhancing the value of content. This strategy underscores our transformation into a digital content services platform, capable of funding our innovations while ensuring a regular return to our shareholders.» (...)"
Financial Communication Calendar 2026:● 2025 Results: Thursday, March 26, 2026● Q1 2026 Update: Thursday, May 28, 2026● General Meeting: Thursday, May 28, 2026, 2:30 PM● H1 2026 Results: Thursday, July 30, 2026● Q3 2026 Update: Thursday, October 15, 2026
To reamember:
SOURCE: https://www.netgem.com/en/investors/regulatory-press-releases
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To read:
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Résultat opérationnel courant - prévisions:
Ce que se retiens:
RépondreSupprimer"Netgem a confirmé le potentiel de sa solution PLEIO (« Freely TV + Cloud Gaming »).
👉 Son déploiement devrait s'accélérer en 2026, via les distributeurs de services actuels et avec de 👉 nouveaux opérateurs attendus au cours du premier semestre 2026."
Source: communiqué Netgem de 28-01-2026 - Chiffre d’affaires et marge brute 2025
https://www.netgem.com/fr/investisseurs/communiques-de-presse-reglementes
Amazon UK - 4K PLEIO Streaming Device (puck):
RépondreSupprimer(https://www.amazon.co.uk/dp/B0FLZ7Z498)
2026-01-28: 130 customer ratings
2025-12-22: 063 customer ratings
2025-11-25: 000 customer ratings - date du lancement
Interessante analise sur Boursorama forum:
RépondreSupprimer"M6790398
29 janv. 2026
Les résultats S2 ne sont pas aussi mauvais que je ne le pensais.
Par contre, il y a quelques signes d'inquiétude.
Les + :
- L'entreprise reste rentable
- Le dividende généreux va rester
Les - :
- Les revenus récurrents se tassent
On observe en effet (merci Alex) :
S1 2025 => S2 2025 :
Total revenue: +5,8 %
Recurring revenue: +0,8%
Non-recurring revenue: +24%
Gross profit: +7,2%
Les revenus non-récurrent sont certainement portés par le Puck Pleio (pour rappel, Netgem se cassait la figure sur les revenus non-récurrents mais se faisait une santé sur les revenus récurrents).
Maintenant, le hype Pleio Puck se tasse, l'augmentation de prix et l'arrivée prochaine du concurrent Manhattan vont certainement faire s'effondrer les ventes.
Pour que Netgem ne s'effondre pas en S1 2026, il faut absolument augmenter les revenus récurrents. Mais on dirait que plusieurs clients Netgem TV ont résilié et que les abonnements Cloud / Sauvegarde patrimoine numérique / autres contrats suffisent à peine à commencer. Va falloir pour la direction regarder ça de près."