Company announcement no. 03-25
Copenhagen, April 03, 2025
Shape Robotics A/S, a leading innovator in educational robotics, announces its guidance for 2025 and presents key financial figures for 2024 in line with its guidance for the full financial year 2024, following a particularly strong fourth quarter.
Key financials for 2024
Shape Robotics achieved robust revenue growth of 76%, increasing to DKK 302 million in 2024 from DKK 171 million in 2023, driven by a 99% increase in Smart Classroom sales and the introduction of high-margin services under the Techducator initiative, reaching 7% of 2024 revenue. For the full year 2024, 12.5% of revenue was generated from outside Romania, up from 4.6% in FY 2023, and the company thus delivers increased diversification of geographical scope and offering with higher share of high-margin products.
The contribution margin rose to DKK 98 million, and adjusted EBITDA increased to DKK 25 million, supported by continued operational scaling and the higher-margin service offerings.
The guidance for 2024 was revenue of DKK 300 million and adjusted EBITDA of DKK 25 million.
| Key financials | 2024 (DKKm) | 2023 (DKKm) | Change (%) |
| Revenue | 301.9 | 171.2 | 76% |
| Contribution margin | 32.4% | 28.6% | 3.8 p.p. |
| Adjusted EBITDA* | 24.8 | 18.2 | 36% |
| EBITDA | 17.0 | 13.4 | 27% |
*Adjusted EBITDA excludes non-recurring costs.
Guidance 2025
Building on the strong 2024, our guidance for 2025 is the following:
- Revenue growth of 20-35% (2024: 76%)
- Adjusted EBITDA margin* of minimum 10% (2024: 8%)
- EBITDA margin of minimum 8% (2024: 6%)*Adjusted EBITDA excludes non-recurring costs.
General assumptions for guidance 2025
- Romania will remain our largest market in the terms of revenue
- Poland will start to be a significant component of the revenue
- The company will secure the financing needed to enable ambitious revenue growth
- The company will keep the contribution margin in the range of 29%-32%, as in the previous years (2022-2024)
- Operational costs in relation to revenue will decrease in comparison to 2024
- EBITDA before adjustments will contain costs connected to the payment of a variable compensation element linked to the acquisition of Storykids By EP SRL (now Shape Robotics Romania SRL) in 2021, which will be eliminated on the level of Adjusted EBITDA. 2025 is expected to be the last year where non-recurring costs related to the acquisition of Storykids will appear.
Strategic initiatives
Since Shape Robotics moved from First North to Nasdaq Copenhagen Main Market in December 2023, a new management team with Mark Abraham as CEO has created strong revenue growth, while integrating Polish Skriware, and as part of the company's expansion plans, a new service-based business concept, Techducator, was developed during 2024. Techducator allows Shape Robotics to offer learning services to current and new customers, and already for the full year 2024, revenue from this high-margin business contributed to 7% of revenue.
The initial results of Techducator have thus supported management's ambition to create a more diversified growth base and improve the gross margin.
In connection with the preparation of the annual report for 2024 and the determination of guidance for 2025, the Shape Robotics board of directors has analyzed the company's results and financial status together with management.
On this basis, a number of initiatives with a view to strengthening Shape Robotics' financial position and the basis for guidance for 2025 have been initiated:
- Reduction of the company's cost base, at the current level of activity, with an impact of DKK 12-15 million for the full year 2025.
- Increased focus on Shape Robotics' cash flow management and capital tied up through a greater focus on the company's supply chain management and the terms associated therewith on both the customer and supplier side.
- Shape Robotics has implemented a centralized ERP system and Extended Warehouse Management solutions. These investments will be rolled out during 2025 supporting reduction in operational costs and enhanced supply chain visibility.
- Tighter prioritization of Shape Robotics' development activities, which also includes a review of the principles for capitalization of these.
In addition to the specific strategic initiatives, the board of directors' competencies were strengthened at the latest extraordinary general meeting in January 2025 with the addition of Per Ikov and Aurel Netin. At the upcoming general meeting, the board of directors recommend to further strengthen the board with a proposal to elect Martin Kjær Hansen as new board member. Martin has a strong background in both finance and investor relations from, among others, ISS, where he is CFO of ISS Denmark. Martin is expected to replace Annette Lindgreen as chair of the board of directors' audit committee, as Annette Lindgreen has chosen to resign from the board of directors.
The board and management are increasingly adept at optimizing operations and creating stakeholder value, as evidenced by 2024 results and the strategic initiatives for 2025. In parallel, the company aims to secure additional financing to fuel further growth in primarily Romania and Poland.
Annual Report 2024
Annual Report 2024 will be released on April 3, 2025, together with the Q4 Interim Report 2024.
About Shape Robotics
Shape Robotics is a Danish EdTech leader, specializing in robotics and educational technology for STEAM learning. Through products like Fable robots and SmartLab solutions, Shape Robotics empowers students to explore hands-on learning, fostering creativity, collaboration, and critical thinking in classrooms worldwide.
Additional information
Jeppe Frandsen
Chairman of the Board of Directors
Mark Abraham
Chief Executive Officer
T: +45 31 65 64 50
E: mark@shaperobotics.com
CVR-nr. 38322656
www.shaperobotics.com
