27 August 2026, 19:46
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Q4 25/26:
- REVENUES +48% YoY EQUAL TO €88.3 MILLION
- TOTAL ENERGY +23% YoY AT 337.5 GWh
- GROSS MARGIN BETWEEN €5.5 AND €5.9 MILLION (+15% / +23% YoY)
FY 25/26:
- REVENUES +8% YoY EQUAL TO €340.8 MILLION
- TOTAL ENERGY +13% YoY AT 1,421.8 GWh
- PRELIMINARY GROSS MARGIN BETWEEN €21.4 AND €22.7 MILLION (+6% /+13% YoY)
- Gas supplied at 32.4 GWh in the quarter (+62% Q4 24/25) and 208.0 GWh for the full year (+88% YoY, representing 15% of total energy volumes);
- Electricity supplied at 305.1 GWh in the quarter (+20% Q4 24/25) and 1,213.8 GWh for the full year (+5% YoY);
- Net Financial Position (cash positive) of €8.9 million, compared to Net Financial Position (cash positive) equal to €8.4 million as of 31 March 2026 and Net Financial Position (cash positive) equal to €9.2 million as of 30 June 2025
Saluzzo (CN), 27 August 2026 – The Board of Directors of eVISO S.p.A. (ticker: EVISO) – a technology company, listed on the EGM – met today and reviewed the preliminary results for the fourth quarter April – June 2026 and the full year July 2025 – June 2026, not subject to audit.
In the period July 2025 – June 2026 eVISO recorded revenues equal to €340.8 million, up 8% from €315.6 million in the previous financial year. The growth in revenues was driven by an acceleration in the fourth quarter, with volumes increasing across all segments, with total electricity up 20% YoY and gas up 62% YoY and across all sales channels — sales network (+28% YoY), agencies (+73% YoY), retail (+150% YoY), digital (4x YoY) and reseller (+16% YoY). In particular, this acceleration led to 48% YoY revenues growth in the fourth quarter and a 15% to 23% increase in Gross Margin compared with the April – June 2025 period.
For the full year, total energy volumes (the sum of electricity and gas supplied, measured in GWh) reached 1,421.8 GWh[1], up 13% from 1,263.6 GWh in the previous financial year. In particular, electricity reached 1,213.8 GWh (+5% YoY), while gas supplied amounted to 208.0 GWh, up 88% from 110.9 GWh in the previous year. Gas increased its share of the overall energy mix from 9% to 15% in just one year. Total collection points (POD and PDR) reached 209,753, up 8% YoY.
The full year results highlight two key dynamics: on the one hand, the drive to grow the direct channel across all energy sources, with total collection points reaching 39,296 (+24% YoY); on the other hand, the recovery of the electricity reseller channel. The recovery, which began in November 2025, strengthened quarter after quarter, from -19% in the first quarter 25/26 (July – September 2025) to +8% in the third quarter 25/26 (January – March 2026), and then to +14% in the fourth quarter 25/26 (April –June 2026). In the full year, the volumes of the electricity reseller channel amounted to 758.4 GWh (-3% YoY).
These growth dynamics translated into a Gross Margin of between €5.5 and €5.9 million in the fourth quarter, representing an increase of between 15% and 23% compared with Q4 24/25. For the full year, preliminary Gross Margin stood at between €21.4 and €22.7 million, up between 6% and 13% from €20.1 million in the July 2024 – June 2025 period. Gross Margin as a percentage of revenues ranged between 6.3% and 6.7%, in line with 6.4% in the July 2024 – June 2025 period.
Lucia Fracassi, Chief Executive Officer of eVISO, commented: “eVISO’s proprietary technology drove annual revenues to €340.8 million, up 8% year-on-year. Quarterly revenues accelerated, increasing by 48% compared with the same quarter of the previous year. The annual result was achieved in a context of average energy prices declining by 6% YoY, composed by the dynamic of the first nine months in which energy prices decreased by 13%, followed by a 20% increase in the final quarter due to the recent and still ongoing geopolitical tensions. Gas rose by 88% year-on-year to 208 GWh and now account for 15% of total volumes, increasing compared with 9% in the previous year”.
At national level, the full year recorded a decrease in the average electricity price (PUN) of -2% YoY (€119.7/MWh) and in the average gas price of -8% YoY (€39.1/MWh). In this context, eVISO’s average energy index (electricity and gas) stood at €107.9/MWh, down 6% YoY compared to €114.7/MWh in the July 2024 – June 2025 period. In the fourth quarter April – June 2026, on the other hand, an increase in average indices was recorded: the PUN increased to €123.8/MWh (+22% YoY) and the gas price to €46.7/MWh (+22% YoY), resulting in an increase in eVISO’s average index to €116.4/MWh (+20% YoY compared to €97.1/MWh in the fourth quarter April – June 2025).
The main trends observed were as follows:
- Direct electricity channel: in the April – June 2026 quarter, the electricity supplied is equal to 2 GWh (+31% compared to April – June 2025). In the full year, the electricity supplied increased by 23% YoY, reaching 455.4 GWh, with the number of PODs in the direct channel growing by 20%, for a total of approximately 31,200 collection points. The direct channel remains the platform’s main margin driver, thanks to the quality and stability of customer relationships;
- Reseller electricity channel: in the April – June 2026 quarter, volumes recorded an increase of 14%, reaching 9 GWh, confirming the recovery trend that began in November 2025, which strengthened over the following quarters, with full year volumes reaching 758.4 GWh (-3% YoY). The 111 resellers associated with eVISO, representing 14% of all operators active in the Italian free market, manage approximately 161,300 PODs;
- Gas segment: in the April – June 2026 quarter, the growth was 62%, reaching 4 GWh. In the full year, total gas supplied reached 208.0 GWh (+88% YoY), with total PDRs increasing by 139% to 17,285 collection points. The share of gas in total volumes increased from 9% to 15%.
KPIs BY BUSINESS SEGMENT FOR THE JULY 2025 – JUNE 2026 PERIOD
POWER
The total electricity supplied is equal to 1,213.8 GWh, up 5% compared to 1,152.8 GWh in the July 2024 – June 2025 period, of which 455.4 GWh related to the direct channel (up 23% compared to 368.8 GWh in the July 2024 – June 2025 period) and 758.4 GWh related to the reseller channel (down by 3% compared to 783.9 GWh in the July 2024 – June 2025 period).
The collection points (POD) stood at 192,468, increasing by 3% compared to 187,620 PODs managed in the July 2024 – June 2025 period. Specifically, approximately 31,200 PODs related to the direct channel (+20% YoY), while approximately 161,300 related to the reseller channel (in line YoY). The 111 resellers associated with eVISO represented approximately 14% of the total number of sales operators active in the free market (796), according to the Electricity Sellers Register (EVE) maintained by the Italian Ministry of the Environment and Energy Security and updated as of 30 June 2026. Total PODs included 2,590 retail customer PODs, a significant increase compared to 1,303 PODs in the July 2024 – June 2025 period, in line with the strategy to penetrate this segment.
In August 2026, electricity volumes associated with eVISO, as reported by the Integrated Information System (SII) – the public body that manages information flows relating to the electricity and gas markets – amounted to 1,410 GWh, of which 513 GWh related to the direct channel and 897 GWh to the reseller channel.
GAS
The total gas supplied is equal to 208.0 GWh, up 88% compared to 110.9 GWh in the July 2024 – June 2025 period. Also in this financial year, the direct channel remains the predominant market, with 170.8 GWh (+61% YoY). The share of gas in eVISO’s overall energy volumes supplied increased from 9% to 15%, representing a structural transformation of eVISO’s business mix.
The total collection points (PDR) are equal to 17,285, of which 8,117 related to the direct channel and 9,168 to the reseller channel, recording an increase of 139% compared to 7,236 PDRs managed in the period July 2024 – June 2025.
In August 2026, gas volumes associated with eVISO, as reported by the SII, amounted to 289 GWh, of which 87 GWh related to the reseller channel and 202 GWh to the direct channel.
ANCILLARY SERVICES
Ancillary practices subject to billing amounted to 36,136, up 19% compared to the 30,280 services provided in the July 2024 – June 2025 period, driven by a significant increase in electricity-related services.
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NET FINANCIAL POSITION (NFP)
The Net Financial Position is positive (cash) at €8.9 million as of 30 June 2026, compared to a positive Net Financial Position of approximately €8.4 million (cash) as of 31 March 2026 and positive for €9.2 million (cash) as of 30 June 2025. The NFP confirms eVISO’s ability to preserve its financial strength despite a context of very strong business growth.
A detailed bridge of the main changes will be presented on 24 September 2026, following the approval of the annual financial statements, prepared by the Company for the first time in accordance with International Financial Reporting Standards (IFRS).
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Below is a table summarizing the main KPIs for the fourth quarter April – June 2026 and the full year July 2025 – June 2026.
As regards the section containing the total collection points indicators (POD and PDR), the data for the quarter and the year coincide as the collection points measurement refers to the last month of the quarter, i.e., June 2026 for the year and quarter considered, and June 2025 for the previous year and the related last quarter.
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This press release is available in the Investor Relations section of the website www.eviso.ai.
[1] Calculated as the sum of electricity and gas volumes supplied, with gas volumes converted into GWh using the standard formula established by ARERA.