tonies reaches upper end of FY 2025 guidance: Portfolio expansion and internationalization drive profitable growth with record adjusted EBITDA margin

• Group revenue was up 31% yoy (+36% in constant currency/cc) to EUR 630m, supported by strong demand for Toniebox 2 and double-digit growth across all markets
• North America continues to drive growth as tonies largest market, increasing revenues by 31% yoy (+40% cc) to EUR 276m
• Boosted by product innovation and portfolio expansion, DACH region accelerates revenue growth despite a high comparable base, up 16% yoy to EUR 214m
• Expansion of adjusted EBITDA margin to around 8.5% at upper end of guidance range highlights resilience of business model amid a challenging macroenvironment

LUXEMBOURG, 5 February 2026 // tonies SE (“tonies”), the globally leading interactive audio platform for children, delivered a landmark year in 2025 – achieving continued strong growth and improved profitability, reaching the upper end of its full-year guidance. Despite a volatile macroeconomic environment, preliminary and unaudited results show double-digit revenue increases in all markets and a record adjusted EBITDA margin. This performance was fueled by the launch of Toniebox 2, portfolio expansion into new content categories and interactive games, as well as deeper global market penetration. Half of the annual revenue was generated in the fourth quarter, reflecting strong consumer demand and the positive impact of new product launches around key commercial events.

Tobias Wann, CEO of tonies, says: “2025 was a defining year for tonies, headlined by the successful launch of Toniebox 2. This landmark innovation has been key to our continued evolution into a global icon, proving that our platform can scale and adapt. Our record results are a direct reflection of this expanded portfolio and our deepened global reach. This performance is a testament to the power of our ever-growing ecosystem and our team's ability to execute even in a challenging macroenvironment. Looking ahead, our current momentum provides a powerful foundation for continued profitable growth in 2026.”

Hansjörg Müller, CFO of tonies, adds: “A strong fourth quarter helped us to extend tonies’ track record of profitable growth for the full year 2025. Toniebox revenues grew by more than 20% in constant currency, supported by the introduction of Toniebox 2. Landing this important device launch gives us confidence to see strong future demand for figurines. With a broader portfolio and strong contributions across all regions, we delivered at the upper end of our guidance. Despite the launch of our biggest product innovation to date, we expanded our margins, demonstrating the fundamental strength and resilience of our business.”

Financial Performance FY 2025*

• Group revenue increased by 31% yoy (+36% cc) to EUR 630m (FY 2024: EUR 481m), above the guidance of growing more than 25% (cc) to over EUR 600m.
• North America revenue grew by 31% yoy (+40% cc) to EUR 276m (FY 2024: EUR 210m), sustaining its strong momentum and driving growth as tonies’ largest market.
• The highly profitable DACH region accelerated top-line growth due to the strong demand for product innovation, with revenues increasing by 16% yoy to EUR 214m (FY 2024: +11% to EUR 184m).
• Revenue in the Rest of World region surged by 64% yoy (+68% cc) to EUR 141m (FY 2024: EUR 86m), as tonies continues to strengthen its market leadership in the UK, France, as well as in Australia and New Zealand.
• The adjusted EBITDA margin came in at around 8.5%, reaching the upper end of the guidance range of 6.5% to 8.5%, compared to 7.5% in 2024. The improvement in profitability was driven by efficiency gains and a beneficial product-mix shift.

Revenue Performance Q4 2025*

• In the year-end quarter, Group revenue increased by 31% yoy (+39% cc) to EUR 313m (Q4 2024: EUR 238m), exceeding the already strong full-year growth rate. This was driven by a strong performance during holiday season with commercially successful events such as Black Friday and Cyber Monday.
• Revenue in North America grew by 30% yoy (+42% cc) to around EUR 154m (Q4 2024: EUR 118m), supported by an increased nationwide market presence.
• In DACH, revenue was up 17% yoy to around EUR 82m (Q4 2024: EUR 70m), as the strong appeal of the tonies brand translated into high demand across different categories, particularly related to the new product launches.
• The Rest of World region saw Q4 revenue increase 54% yoy (+60% cc) to around EUR 77m (Q4 2024: EUR 50m), underscoring its growing relevance through strong performance in its markets.

The audited full-year 2025 results will be released alongside tonies SE’s Annual Report on April 14, 2026 and presented in a webcast with CEO Tobias Wann and CFO Hansjörg Müller. For further information, please see https://ir.tonies.com/financial-calendar/.

Revenue by region*

*all figures are preliminary and unaudited

Investor Relations Contact

Moritz Verleger
Head of Investor Relations
Phone: +49 151 5784 6012
Mail: ir@tonies.com

Media Contact

Christian Steinhof
Head of Global Corporate Communications
Phone: +49 171 121 0279
Mail: christian.steinhof@tonies.com

About tonies
tonies® is the globally leading interactive audio platform for children redefining how children aged 1 to 9+ play, learn and grow independently without screens. Since its founding in Germany in 2014, more than 10 million Tonieboxes have been activated and over 134 million Tonies sold worldwide. tonies employs more than 560 people and is listed in the SDAX of the Frankfurt Stock Exchange (tonies SE).

This document contains forward-looking statements
Certain statements included in this document are forward-looking statements. Forward-looking statements can typically be identified by the use of words such as "expects", "may", "will", "could", "should", "intends", "plans", "predicts", "envisages" or "anticipates" or other words of similar meaning. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the tonies SE. They are not historical or current facts, nor are they guarantees of future performance.

Disclaimer
By their nature, forward-looking statements involve several risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described in this document. These forward-looking statements speak only as of the date of this announcement. Except as required by any applicable mandatory law or regulation, the tonies SE expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this document to reflect any change in the tonies SE's expectations with regard thereto or any change in events, conditions, or circumstances on which any such forward-looking statements are based. Neither tonies SE nor any other person accepts any responsibility for the accuracy of the opinions expressed in this document or the underlying assumptions. For the definition of the alternative performance measures used, please refer to the published Annual Report as of December 31, 2024 and the Half-Year Report 2025, or by using the following link to our website: APM.