Cleveron’s 2025 Annual Report

The 2025 financial year was successful for Cleveron, characterised by significant profitability growth, with net profit tripling.

Cleveron’s sales revenue amounted to 28.6 million euros (2024: 27.3 million euros), growing by 4.6% year-over-year. The EBITDA was 4.6 million euros (2024: 3.1 million euros), and the net profit for the reporting period was 2.7 million euros (2024: 0.9 million euros).

→ Download the report here: cleveron-annual-report-2025-eng

We made a significant shift in our business model, which enabled us to increase gross profitability, optimise our cost structure, and strengthen the company’s cash flow position, creating a strong foundation for future growth objectives. 

“2024 and 2025 were about building our backbone. We put the right operational structure and leadership in place, giving us a healthy, resilient baseline for sustainable, long-term profitable growth –  focusing on efficiency, discipline, and alignment before pushing harder on the top line.”

Per Klavsen, Chief Executive Officer of Cleveron

As Chief Financial Officer, Pirgit Lohk explains, the shift stems from a fundamental change in strategy: “We made a radical shift from a volume-first model to a profit-and-margin-first model. To stay agile and fund sustainable innovation in a hyper-competitive market, you must have total clarity on where your capital comes from and where it goes.”

That discipline shows up directly in the numbers: updated pricing and product standardisation lifted gross margin to 45.8% (2024: 40.1%), while €1.4 million in continued investment in products and services kept us competitive in the global last-mile market. By year-end, our free cash balance grew to €7.2 million, up from €2.8 million, more than doubling on the back of a leaner model, stronger margins, and tighter working capital management, and giving us both the stability and flexibility to invest in what comes next.

“In 2026, we’re building on that momentum, shifting into second gear as we head toward our strategic target years of 2027 and 2028.

 

Our growth strategy going forward rests on two clear priorities: expanding our hardware portfolio to capture market share, drive volume, while widening our customer footprint; and investing heavily in software, scaling our recurring, higher-margin solutions to deepen customer lifetime value and expand margins.” 

Per Klavsen, Chief Executive Officer of Cleveron.

Together, these results mark more than a strong year; they mark the foundation Cleveron will build on through 2026 and beyond.