Core Insights - The company is transitioning from a product-oriented model to a customer-oriented model, aiming to double service capacity and insource technical support to rebuild trust and recover lost accounts [1] - Management has identified a pending capital restructuring as a temporary commercial headwind, with some customers delaying large-scale DC fast charger orders until financial clarity is achieved [1] Financial Performance - North American performance showed a strategic highlight with a 16% year-over-year growth, significantly outperforming a flat regional EV market due to gains in software and services [2] - Gross margin expanded by 410 basis points to 38.3% for the full year, driven by improvements in bill of materials (BOM) costs and positive pricing effects, despite challenges from product mix [2] - Adjusted EBITDA improved by 51%, attributed to aggressive cost discipline, including a 25% reduction in labor and operating expenses through organizational rightsizing [3] Revenue and Guidance - Management reported an 11% annual revenue decline due to a deliberate refocus on core business and the transition to a more optimized organization, filtering out non-core resources [3] - Q1 2026 guidance estimates revenue between €33 million and €36 million, with adjusted EBITDA expected to narrow to a loss between €5 million and €3 million as sales initiatives begin to take effect [3] Strategic Initiatives - The 'ReShape' sales strategy focuses on three pillars: recovering lost customers via extended warranties, actively acquiring new customers, and consolidating existing customers through stricter monitoring and dedicated support [3] - Management anticipates that finalizing debt refinancing in the coming weeks will act as a primary catalyst for growth by removing restrictions on participating in large RFQs and tenders [3] - Future growth in the U.S. is expected to be less dependent on EV sales volatility through the expansion of Quasar 2, which is positioned as a home energy management solution rather than just a charger [3] - The rollout of the Supernova Power Ring and CTEP-certified commercial products aims to capture high-power public charging demand and target the California commercial market [3]