Performance on our platform was resilient in H1 2025, driven by successful innovations such as our Agentic AI platform HALO and subsequently the launch of Voice AI. HALO grew 30% month-over-month since its launch. The contribution of HALO to ARR is already €1.2 million, 5 months after launch. Overall, Gross profit growth in H1 2025 was flat, in the absence of more volatile business, like the promotional WhatsApp campaign in H1 2024. Given the Gross profit development in H1 2025, CM.com takes a more cautious stance on its FY 2025 outlook. CM.com reiterates its guidance on OPEX and guides FY2025 EBITDA towards the lower end of the previously guided range of €22-27 million.
Breda, The Netherlands, 23 July 2025
Financial Highlights Q2 2025
- EBITDA: €3.9 million (Q2 2024: €4.1 million, Normalized €4.9 million).
- Gross profit: €19.8 million (-4% YoY).
- Gross margin: 31.8% (Q2 2024: 29.3%).
- Revenue: €62.4 million (-12% YoY).
- OPEX: €16.0 million (Q2 2024: €16.6 million, Normalized €15.8 million).
- Annual Recurring Revenue (ARR): €34.5 million (+6% YoY).
Financial Highlights H1 2025
- EBITDA: €7.8 million (H1 2024: €6.6 million, Normalized €8.2 million).
- Gross profit: €40.3 million (flat YoY).
- Gross margin: 32.4% (H1 2024: 30.0%).
- Revenue: €124.3 million (-7% YoY).
- OPEX: €32.5 million (H1 2024: €33.7 million, Normalized €32.1 million).
- Free Cash Flow: €2.1 million (H1 2024: -€1.3 million).
Business Highlights H1 2025
- Launch of Agentic AI platform HALO: CM.com launched its Agentic AI platform HALO as one of the first companies in Europe, allowing clients to develop and integrate AI Agents into their structure and product offering
- Launch Voice AI: After the launch of HALO, CM.com launched Voice capabilities to communicate with AI Agents on our HALO platform through voice and via telephone.
- Rich Communication Services (RCS): CM.com gained traction with its RCS messaging offering, leading to a 511% increase in RCS volume in H1 2025.
- Launch Ticketing Resale Platform: Introduced our ticketing resale platform, broadening service offerings in Q2 2025.
- Successful coordination ticket sale Amsterdam’s 750th anniversary festival: Coordinated ticketing and payment services for the Amsterdam 750th anniversary festival, delivering the largest single-day ticket sale in Dutch history – 285,000 tickets - while seamlessly managing all on-site payment solutions at the venue.
- Refinancing Convertible Bonds: CM.com successfully refinanced its outstanding Convertible Bonds by an €80 million Revolving Credit Facility and a €20 million equity raise to fund further growth.
- Capital Markets Day: CM.com held its 2025 Capital Markets Day, presenting the Customer Engagement Platform and new medium term targets for 2028.
Outlook
- FY 2025 EBITDA guidance is towards the lower end of the guided range of €22-27 million.
- Gross profit is expected to increase in H2 2025.
- FY 2025 OPEX is expected to remain flat YoY compared to the Normalized OPEX in FY2024.