- “We know that achieving our first full year of profitability is a milestone, not our destination,” said CEO Jean-Christophe Flatin as Oatly presented its annual results.
The Swedish oat drink company published its results for the fourth quarter and full year 2025 on 11 February 2026. The figures show a year in which both revenue and earnings improved significantly. However, Oatly still reported a net loss.
In the fourth quarter, revenue rose to USD 233.8 million — an increase of 9.1 per cent compared with the previous year. Gross margin expanded to 34.5 per cent. At the same time, adjusted operating profit (EBITDA) reached USD 11 million, compared with a loss in the same period last year.
Despite the improvement, the bottom line remains in the red. In the fourth quarter, the company recorded a net loss of USD 19.1 million. However, this marks a substantial improvement from the USD 91.2 million loss reported in the same quarter a year earlier.
CEO Jean-Christophe Flatin said in a press release:
- I am proud to report that we delivered profitable growth in both the fourth quarter and the full year. Achieving this milestone reflects the disciplined and strategic actions we have taken over the past three years to strengthen the foundation of our business. We have right sized our supply chain and overhead structure while reinvesting in our refreshed growth strategy.
We are seeing clear evidence that our strategy is working. Growth is accelerating in every market where it has been fully deployed, and we are seeing promising early results in markets where we are still rolling out our playbook. We are also experiencing improved profitability and stronger cash flow across the business.
He emphasised, however, that the company remains focused on achieving long-term, sustainable growth with stronger profitability.
For 2026, Oatly expects revenue of between USD 888 million and USD 906 million. The company anticipates growth of 3–5 per cent and adjusted EBITDA of USD 25–35 million. Capital expenditure is expected to range between USD 20 million and USD 30 million.
In 2026, the company will continue executing its growth strategy while also conducting a strategic review of its business in China.
Oatly was founded in 1994 and is headquartered in Malmö, Sweden. The brand is available in more than 50 countries worldwide.