Core Insights - Vusion Group reported significant revenue and earnings growth in 2025, primarily driven by expansion in the Americas and Asia-Pacific regions [1][5] Financial Performance - Adjusted revenue increased by 51% year-on-year to €1.52bn ($1.79bn), while reported revenue was €1.47bn [1] - Reported EBITDA reached €222.6m, with adjusted EBITDA at €277.4m, up from €160.5m the previous year [1] - Adjusted net income rose 85% to €98.7m compared to €53.4m in 2024, improving the adjusted net margin to 6.5% from 5.3% [1] Order Intake and Cash Flow - Order intake was €1.70bn, reflecting a 5% increase from the prior year [2] - Free cash flow amounted to €56m, with a net cash position of €439m at the end of 2025 [2] Regional Performance - Revenue in the EMEA region declined by 15.8% to €414.6m, accounting for 27% of total revenue, due to the completion of a major customer rollout and weaker trading conditions [2] - Adjusted revenue in the Americas and APAC surged 115% to €1.11bn, making up 73% of total revenue, supported by accelerated deployments in the US [3] Research and Development - Research and development spending increased by 20% to €40m, focusing on data, AI, and retail media offerings [3] Future Outlook - The company plans to deploy over 150,000 AI cameras in 2026 and expand Vusion Cloud capacity to 375 million units [4] - A proposed dividend of €0.90 per share was announced, up from €0.60 in 2024 [4] - For 2026, Vusion Group targets adjusted revenue growth of 15%–20% at constant exchange rates, including a 40% growth in value-added services revenue [5] - Expected adjusted EBITDA margin improvement of over 100 basis points and enhanced operational free cash flow while maintaining a positive net cash position [6]