Strong Full-Year Revenue Growth
Total revenue for FY2025 was $1.7 billion, up 13% year-over-year, driven largely by organic volume growth (70/30 volume vs. price for the full year).
Q4 Momentum
Fourth quarter net revenue was $435 million, up 10% year-over-year, with roughly half of Q4 growth from unit volume and half from price.
Adjusted EBITDA Growth and Record Margin
Adjusted EBITDA grew 14% for the full year with a record full-year Adjusted EBITDA margin of 25.5%. Q4 Adjusted EBITDA was $107 million, up 17% year-over-year and represented 24.5% of revenue (140 bps improvement).
Gross Margin Expansion
Q4 gross profit was $161 million (37% of revenue), with gross margin expanding 190 basis points year-over-year; company cites ~80 bps of gross margin improvement from cost-down and operational initiatives.
Deleveraging and Cash Flow Strength
Total debt fell from $2.1 billion to $1.4 billion in 2025; net debt is $1.2 billion and net leverage declined to 2.8x Adjusted EBITDA (a 2.2-turn reduction). Cash from operations increased ~46% year-over-year.
Innovation and Product Launches
Key launches in 2025 included ProCapture lint filtration expansion, T55 stacked tumbler, Stax-X for APAC, and Scan-Pay-Wash (cashless solution) which processed over 350,000 transactions to date; global test labs performed ~5 million hours of testing.
Connected Platform and Installed Base Growth
Connected equipment base reached 245,000 machines, up 25% year-over-year, enhancing data/recurring value and differentiation versus competitors.
CapEx and Strategic Investments
Invested $54 million in 2025 behind capacity expansion, automation, new product development and digital capabilities; guidance calls for ~3% of revenue CapEx in 2026 plus ~2% targeted for product development/innovation.
International Performance
International revenue grew 10% (to $440 million) with Adjusted EBITDA up 17% and adjusted EBITDA margin increasing 160 bps; Europe was a standout driven by licensed store strategy and energy-efficiency demand.