MotorK plc (AMS: MTRK) (“MotorK”, the “Group” or the “Company”), a leading SaaS provider to the automotive retail industry in the EMEA region, today announced its financial results for the nine months ended September 30, 2025.
KEY FINANCIAL HIGHLIGHTS:
- Committed Annual Recurring Revenue (CARR1): €36 million in Q3 25, stable compared to the restated CARR in the same period last year. The uplift of €5.6 million in gross CARR year-to-date was almost entirely offset by churn in the retail segment and phasing-out non-core legacy retail customers.
- Reported Revenue: €30.5 million in the first nine months of 2025, compared to €30.3 million in the same period of 2024.
- Recurring Revenue: in the first 9 months of 2025 amounted to €23.8 million, accounting for 78% of Reported Revenue.
- Cost Efficiency: 6% year-on-year cost base reduction to €27.7 million compared to €29.5 million last year, driven by a 15% decrease in FTE to 326 and a more efficient management of software licences.
- Cash EBITDA: positive for Q3 25, marking an important milestone of the Group’s path to profitability two months ahead of expectations and marking a higher than 50% improvement compared to the same period last year.
- New Chief Revenue Officer (CRO): Xavier Vandame joined the Group as CRO in August, bringing with him over 30 years of automotive industry experience in driving growth, customer partnerships and innovation in complex sales ecosystems around the world.
Amir Rosentuler, Executive Chairman and Ad Interim CEO, commented: “This is a crucial moment for MotorK, as our disciplined approach to cost management has allowed us to achieve a positive Cash EBITDA in Q3. At the same time, we continued to review our internal processes, specifically de-risking our customer base and laying a healthier foundation for the future. It’s important to distinguish this essential effort from our underlying commercial traction, which remains solid, as demonstrated by the €5.6 million in Gross CARR added this year.
Looking ahead, we are focused on execution. Our sales pipeline is robust, and we are thrilled to have welcomed our new Chief Revenue Officer, whose extensive track record in the global automotive industry will be instrumental in converting these opportunities into sustainable growth. We have work to do, but the path is clear. The entire team is aligned and focused on building a profitable, long-term business.”
FINANCIAL PERFORMANCE AND OUTLOOK
The robust operational performance in the third quarter reinforces our confidence in the Group’s strategy and long-term trajectory. The platform’s value proposition continues to resonate strongly across the automotive industry, evidenced by a Gross CARR increase of €1.9 million in Q3, bringing the year-to-date total to €5.6 million. This sustained momentum demonstrates significant demand for our integrated solutions and our ability to attract new customers.
During the quarter, the Company’s Net New CARR was impacted by churn, mainly in the retail segment. In addition to this, and in line with the efforts initiated in the past months, we intensified our focus towards enhancing operational efficiency and high-value, scalable customer segments that support our long-term SaaS model. This is a crucial step towards de-risking the balance sheet and improving the overall quality of the revenue base.
Looking ahead, our commercial pipeline remains strong at over €12.1 million. The sales traction demonstrated in recent quarters, combined with the launch in Q4 of the new customer success manager role, focused on product adoption and retention, and the strategic leadership of our new Chief Revenue Officer, provide a solid foundation for future growth. Consequently, management reaffirms its commitment to achieving a low single-digit year-over-year revenue growth by the end of fiscal year 2025.
On the profitability front, our disciplined approach to cost management has yielded significant results. Strategic initiatives, including merging teams to enhance efficiency, reducing procedural handshakes, optimizing software license usage, along with a 15% reduction in FTE to 326, contributed to a 6% year-on-year reduction in our cost structure. This drove a positive Cash EBITDA for Q3, marking a significant milestone in our path to sustainable profitability, two months ahead of expectations.
Although seasonality in Q4 may lead to a slight negative Cash EBITDA position, we are confident that the structural improvements made this year are building a leaner, more resilient business poised for profitable growth.
NEXT PUBLICATION: FY 2025 TRADING UPDATE
MotorK will post its financial publication schedule on the Company website by year end.
| Q3 2025 UNAUDITED REVENUES BY PRODUCT AND SERVICES LINE | |||
| In k€ |
Sep-25 |
Sep-24 restated |
y.o.y. change |
| SaaS platform |
23,499 |
22,552 |
4% |
| Digital Marketing |
5,978 |
6,601 |
-9% |
| Other |
1,023 |
1,131 |
-10% |
| Revenues |
30,500 |
30,284 |
1% |
| Q3 2025 UNAUDITED RECURRING AND NON RECURRING REVENUES | |||
| In k€ |
Sep-25 |
Sep-24 restated |
y.o.y. change |
| SaaS Recurring |
23,072 |
22,529 |
2% |
| Other recurring |
728 |
1,501 |
-51% |
| Recurring revenues |
23,800 |
24,030 |
-1% |
| % Recurring on Revenues |
78% |
79% |
-1% |
| Contract start-up |
427 |
59 |
624% |
| Digital |
5,272 |
5,572 |
-5% |
| Other |
1,001 |
623 |
61% |
| Non Recurring revenues |
6,700 |
6,254 |
7% |
| Revenues |
30,500 |
30,284 |
1% |
| Q3 2025 UNAUDITED REVENUES BY GEOGRAPHY* | |||
| In k€ |
Sep-25 |
Sep-24 restated |
y.o.y. change |
| Italy |
20,318 |
19,693 |
3% |
| Spain |
2,728 |
2,699 |
1% |
| France |
4,076 |
4,309 |
-5% |
| Germany |
1,549 |
1,782 |
-13% |
| Benelux |
1,829 |
1,801 |
2% |
| Revenues |
30,500 |
30,284 |
1% |
|
*It represents revenues broken down by the countries in which the legal entities are established, independently of the geographical location of the customers. |
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