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Dec 31, 2025
Oatly Q4 2025 Earnings Report
Oatly reported increased revenue and improved profitability in the fourth quarter of 2025, with a significantly reduced net loss compared to the prior year.
Key Takeaways
Oatly delivered 9.1% revenue growth in Q4 2025, driven primarily by strong performance in Europe & International, while narrowing its net loss substantially year over year and achieving positive Adjusted EBITDA.
Revenue increased 9.1% year over year to $233.8 million, led by Europe & International growth.
Gross margin expanded to 34.5%, up 5.8 percentage points from the prior year.
Net loss attributable to shareholders improved to $19.1 million from $91.2 million last year.
Adjusted EBITDA turned positive at $11.0 million, reflecting improved gross profitability.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For 2026, Oatly expects constant currency revenue growth of 3% to 5% and Adjusted EBITDA between $25 million and $35 million, with capital expenditures projected between $20 million and $30 million.
Positive Outlook
- Constant currency revenue growth expected between 3% and 5%.
- Foreign exchange expected to provide a 100 to 200 basis point tailwind to revenue growth.
- Adjusted EBITDA projected in the range of $25 million to $35 million.
- Continued execution of growth strategy across markets.
- Ongoing improvements in profitability and cash flow.
Challenges Ahead
- Approximately 200 basis point revenue headwind from a large North America foodservice customer.
- Macroeconomic uncertainty impacting operating environment.
- Geopolitical uncertainties may affect performance.
- Foreign exchange volatility could impact reported results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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