Company announcement no. 04-25

Copenhagen, April 03, 2025

Shape Robotics A/S, a leading innovator in educational robotics, announces its Annual Report 2024 and Q4 2024 financial results. Scheduled for approval at the company's ordinary general meeting on April 25, 2024, the full year 2024 results show robust revenue growth of 76%, increasing to DKK 302 million in 2024 from DKK 171 million in 2023. 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 financial results for 2024 was in line with the guidance for 2024 of a DKK 300 million revenue and adjusted EBITDA of DKK 25 million.

Mark Abraham, CEO of Shape Robotics says:

"We delivered on our full-year 2024 guidance, not least due to Q4 being our strongest quarter to date, with revenue of DKK 125m and a record-high contribution margin of 38%. Adjusted EBITDA reached DKK 26m in Q4 alone. Service revenue, driven by our new Techducator concept, was a key contributor to this improved profitability. With strengthened financial backing, new distribution partnerships, and growing demand across key markets, we finished 2024 with momentum and enter 2025 confident in our ability to broaden our impact on STEAM education - across Europe and beyond."

Q4 highlights

Together with the Annual Report 2024, Shape Robotics also publish its Q4 2024 Interim Report, displaying the following highlights:

• Reported revenue in Q4 2024 increased to DKK 125m (Q4 2023: DKK 87m), corresponding to a growth of 44%.
• Contribution margin further increased to 38% in Q4 2024 (Q4 2023: 28%).
• Adjusted EBITDA amounted to DKK 26m in Q4 2024 (Q4 2023: DKK 17m).

Guidance 2025

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.

Strategic initiatives

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.
• Tighter prioritization of Shape Robotics' development activities, which also includes a review of the principles for capitalization of these.

See company announcement no. 03-25 from April 3, 2025 for further details.

Webcast and Q&A session

A video presentation of the Q4 2024 and FY 2024 results will be available on Shape Robotics' LinkedIn page and, subsequently, on the company's website on 3 April 2025 at 10:00 (CET).

On 10 April 2025 at 17:00 (CET), Mark Abraham, CEO will host a live streaming Q&A session about the Q4 2024 Interim Report and 2024 Annual Report. You may access the session directly on the company's LinkedIn page.

The Annual Report 2024 and Q4 Interim Report are attached to this announcement and can also be found on the company's website. 

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

Mark Abraham
Chief Executive Officer

T: +45 31 65 64 50
E: mark@shaperobotics.com

CVR-nr. 38322656
www.shaperobotics.com