Launch and Commercial Traction of Orbis Lane Model Maps
Introduced Orbis Lane Model Maps (lane-level, AI-powered, urban scale); produced with a more automated map factory enabling fresher, lane-accurate maps. Product secured record new business, notably selected by CARIAD (Volkswagen Group) as a core component for automated driving systems.
Record Automotive Order Intake and Backlog Growth
Automotive backlog reached EUR 2.4 billion at year-end, a net increase of EUR 300 million vs end-2024. Book-to-bill was well above 2, and ~50% of 2025 order intake related to Lane Model Maps.
Strategic Partnerships Expanded
Expanded and deepened partnerships including a new cooperation with Esri (maps and traffic for enterprise/location intelligence) and an expanded global partnership with Uber, broadening market reach and diversification.
Improved Profitability Metrics and Cost Discipline
Gross margin improved to 89% in Q4 (+2 percentage points vs Q4 2024) and 88% for full-year 2025 (up from 85% in 2024). Operating expenses reduced to EUR 110 million in Q4 (EUR 21 million lower YoY) and to EUR 489 million for FY2025 (EUR 19 million lower YoY), supported by capitalization of development and disciplined cost management.
Free Cash Flow Turnaround in 2025
Free cash flow (excluding reorganization cost) was an inflow of EUR 19 million in 2025 versus a EUR 4 million outflow in 2024 — an improvement of EUR 23 million (transcript cites EUR 32 million improvement compared to prior year when including reorganization adjustment).
Clear Multi-Year Growth Path and 2026 Guidance
Company guided 2026 group revenue between EUR 495 million and EUR 555 million (Location Technology EUR 435–485 million), expects operating result to improve YoY, and projects operating margin around 3% of group revenue in 2026 with a return to top-line growth anticipated in 2027.