Kudelski SA

Latest Results (10.11.2025):

Kudelski SA’s first half 2025 financial results reflect a strategic transformation towards advanced digital security solutions across Media, Cybersecurity, and IoT. The Group reported total revenues and other operating income of USD 174.5 million – an 8.9% decline from the equivalent period in 2024 – while also working through restructuring costs which impacted key margins. Despite the revenue declines, improved EBIT figures and a re-focused strategy, including the launch of Kudelski Labs, set the stage for a stronger revenue trajectory and profitability improvement in the second half of 2025.

Overall Financial Performance

The Group’s net revenues and other operating income fell to USD 174.5 million in the first half of 2025, with EBIT improving from USD -30.3 million in 1H 2024 to USD -24.8 million (inclusive of USD 6.4 million in restructuring costs), and net income from continuing operations at USD -32.9 million, marking a positive margin trend despite challenging market conditions.

Core Digital Security Segment

The Core Digital Security unit, critical to Kudelski SA’s portfolio, reported revenues of USD 103.9 million – a decline of 7.0% compared to 1H 2024, representing the smallest decrease in four years. The segment realigned its leadership and transitioned to product‑centric specialist teams, reinforcing client relationships through key extensions with partners.

Cybersecurity and IoT Segments

Cybersecurity revenues reached USD 49.5 million, down by 4.8%, as the Company shifted towards higher margin, multi-year engagements, particularly in the U.S. market. The IoT segment, focusing on asset tracking and expanding distribution through strategic alliances, delivered revenues of USD 19.3 million, reflecting a 10.6% decline compared to 1H 2024.

Transformation Initiatives and Outlook

Kudelski SA is accelerating its transformation with initiatives like the launch of Kudelski Labs to drive innovation in emerging digital security challenges. Looking ahead to the second half of 2025, the management expects a stronger revenue trajectory, improved profitability, and material enhancements in cash flows, underpinning the Group’s long-term growth strategy.