Mister Spex SE

Latest Results (08.11.2025):

Mister Spex SE’s Q2 2025 and H1 2025 financial report shows a challenging period marked by significant revenue declines across segments and product categories, alongside improvements in certain margins. The company’s Q2 revenue dropped by 22% year‑on‑year, with both its domestic and international segments feeling the impact, while operational metrics such as EBITDA and EBIT also improved from deeper losses in the prior year. At the same time, customer activity weakened as active customers and order volumes declined, though the average order value increased, hinting at a possible shift in consumer purchasing behavior.

Revenue Decline

In Q2 2025, Mister Spex SE reported revenue of €52,886k, down 22% compared to €67,599k in Q2 2024. The H1 2025 revenue of €97,588k also fell by 18% versus the prior-year period. Both the Germany segment (down 16% in Q2) and the International segment (down 41% in Q2) contributed to this downturn.

Product Category Trends

Key product categories experienced notable decreases: prescription glasses revenue declined 8% in Q2, while the sunglasses segment—crucial to the company—fell dramatically by 35% in Q2. Contact lens sales also saw a downturn, with a 19% drop in Q2 and a 14% decline when looking at H1 figures.

Profitability and Operational Results

The operational efficiency showed signs of improvement despite lower sales. The gross profit margin increased from 48.7% in Q2 2024 to 53.7% in Q2 2025. EBITDA improved significantly, rising from a loss of €659k in Q2 2024 to a positive €365k in Q2 2025, and EBIT narrowed its loss by 41%, from -€7,231k to -€4,269k in Q2.

Customer and Order Metrics

The report also highlights a decline in customer engagement, with active customers falling by 22% and the number of orders decreasing by 27%. However, the average order value increased by 10%, from €97.60 to €107.03, suggesting that while fewer orders were placed, the value per transaction improved.