7th Jan 2026 13:43
(Alliance News) - Engage XR Holdings PLC on Wednesday said 2025 was a challenging year across multiple fronts amid continued headwinds, as it anticipates posting lower revenue.
Engage Xr shares fell 23% to 0.37 pence each on Wednesday afternoon in London.
The Waterford, Ireland-based virtual reality technology company expects to report revenue of EUR1.9 million for 2025, down 44% from EUR3.4 million in 2024, due to delays in contracts being signed and lower than expected enterprise sales and renewals during the year.
It expects to report an earnings before interest, tax, depreciation and amortisation loss of EUR2.4 million, narrowed from EUR4.0 million a year ago, as it focused on "operational efficiencies and strong cost control".
Chief Executive Officer David Whelan said: "Overall, 2025 was another challenging year for the company across multiple fronts due to continued headwinds, especially from the erosion of the enterprise client renewals. The board recognises the need to deliver improved performance for our shareholders over the long term and therefore as a board we will continue to explore initiatives to deliver on this objective."
He added: "Notwithstanding the headwinds the company is confronting, especially in the enterprise space, as a management team, we continue to believe that the education sector provides and important opportunity for the company which will create value for Engage's proposition. We believe that the Engage platform is relevant across schools, universities and the homeschool market, with the US and Middle East continuing to be key geographic opportunities for the company."
By Tom Budszus, Alliance News slot editor
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