Bragg reported modest revenue growth in 2025, alongside a small increase in EBITDA – see more details:

• Revenue rose to EUR 106.1m from EUR 102.0m, while gross profit increased to EUR 58.3m from EUR 54.0m. Adjusted EBITDA edged up to EUR 16.5m from EUR 15.8m, with margin stable at 15.6%. Overall, Bragg FY 2025 showed steady top-line growth with limited margin change.

• Operating loss widened to EUR 5.3m from EUR 3.5m in FY 2024, while net loss increased to EUR 8.1m from EUR 5.1m. Loss per share also rose to EUR 0.32 from EUR 0.21. The full-year comparison shows pressure further down the income statement.

• Q4 2025 performance had a smaller impact on the full-year trend but followed a similar pattern. Revenue reached EUR 27.7m versus EUR 27.2m in Q4 2024, while EBITDA dipped slightly to EUR 4.6m. Operating loss improved, but net loss widened year-on-year.

• Regional trends in Q4 2025 supported parts of the yearly result. Brazil revenue grew 42.1%, while US revenue rose 55.0% on proprietary content expansion. The Netherlands declined 4.6%, reflecting regulatory and tax changes in the market.

• Costs increased during the year, with SG&A (Selling, General and Administrative expense)  rising to EUR 63.5m from €57.8m. Cash fell to EUR 6.7m from EUR 10.5m, while equity also declined. CEO Matevž Mazij said: “We continued to execute well, delivering record revenues and strategic expansion.”

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