Tekna posts improved margins and EBITDA-positive Q4 2025
Tekna Holding ASA, headquartered in Sherbrooke, Quebec, Canada, has reported its fourth-quarter 2025 financial results. The period marks Tekna’s second consecutive EBITDA-positive quarter, supported by strong materials performance and the sustained impact of the company’s efficiency and cost-reduction programme.
Total revenues in Q4 2025 amounted to CA$ 9.9 million, representing a 2% year-on-year increase. The company delivered a significant improvement in profitability, with overall contribution margin increasing to 60%, compared to 41% in the corresponding period last year. Adjusted EBITDA for the quarter was positive at CA$ 0.9 million, corresponding to an adjusted EBITDA margin of 9.3%. This improvement was driven by record-high margins in materials and continued operational discipline across the organisation.
Claude Jean, CEO of Tekna Holding ASA, shared, “We achieved our second consecutive EBITDA-positive quarter, with record materials performance and expanding margins. We are seeing growing traction with larger strategic customers placing larger orders, reinforcing our position as a trusted supplier in Additive Manufacturing.”
“Combined with disciplined cost execution and a significantly strengthened balance sheet, Tekna has reached an important inflection point. With ample capacity, deep technical expertise, and strong customer relationships, we are well positioned to scale and capture long-term value in Additive Manufacturing and adjacent industrial applications.”
Total revenue for year-to-date was CA$ 35.6 million (-4% YoY). This included record materials revenues of CA$ 8 million, with a contribution margin of 59%, compared to 38% in the same period last year. Materials order intake increased by 18% YoY to CA$ 9.1 million. Cash flow from operating activities was CA$ -1.2 million in Q4.
Subsequent to the reporting period, Tekna announced several orders, further supporting visibility into 2026 revenues.
Long-term strategy and 2030 targets
Tekna expects its materials segment to be the primary revenue driver toward 2030. Within its existing business areas, materials and systems, the company targets double-digit annual revenue growth and EBITDA margins in the range of 15% to 20% by 2030.
During the fourth quarter, Tekna successfully completed its refinancing plan through a fully underwritten rights issue of NOK 300 million (CA$ 41 million).
- Net proceeds of approximately CA$ 40 million were raised, after transaction costs of around CA$ 1 million.
- CA$ 29 million of the proceeds were used to fully repay the AFK shareholder loan, including interest.
- The remaining proceeds increased cash by CA$ 11 million, lifting total cash holdings from CA$ 7.2 million at the end of Q3 2025 to CA$ 17.4 million at year-end.
As a result, Tekna’s balance sheet strengthened materially:
- Equity ratio increased from 28% at the end of Q3 2025 to 78% at the end of Q4 2025.
- Net debt improved from CA$ 26.6 million to a net cash position of CA$ 11.8 million.
