Senstar Technologies Ltd.

Fourth-quarter 2025 revenue was $8.8 million versus $10.2 million a year ago, down 14% year over year. Q4 gross margin was 61.5% versus 64.5%; operating loss was $159,000 versus operating income of $1.5 million; EBITDA was $35,000 versus $1.6 million; and net loss attributable to shareholders was $33,000, or $0.00 per share, versus net income of $1.6 million, or $0.07 per share. Full-year 2025 revenue was $36.4 million, up 2% from $35.8 million; gross margin was 65.5% versus 64.1%; operating income was $3.0 million versus $3.9 million; EBITDA was $3.7 million versus $4.6 million; and net income attributable to shareholders was $3.2 million, or $0.14 per share, versus $2.6 million, or $0.11 per share. Cash and cash equivalents plus short-term bank deposits were $22.5 million at 12/31/2025 versus $20.6 million a year earlier, and debt was zero. Management did not provide numeric revenue or EPS guidance for next quarter or full year, but said 2026 opened with an expanding pipeline, continued activity in data centers, utilities, energy, and LiDAR, and a focus on converting pipeline into revenue while keeping costs disciplined.

Fabien Haubert framed 2025 as a year of solid execution, with revenue growth, margin expansion, and profitability, while emphasizing that the weak fourth quarter was largely timing-related rather than demand-driven. He said delayed U.S. government projects remain alive and that some EMEA telecom revenue should recur in 2026. His tone was constructive and forward-looking, with repeated emphasis on a growing pipeline, stronger account expansion, and LiDAR as a market-expanding technology.

Alicia Kelly said Q4 revenue was $8.8 million, gross margin was 61.5%, operating expenses were $5.6 million, and operating loss was $159,000, with higher G&A tied to Blickfield transaction costs. For the full year, she cited revenue of $36.4 million, gross margin of 65.5% (up roughly 150 basis points), operating income of $3.0 million, net income of $3.2 million, and EBITDA of $3.7 million. She also noted cash and short-term bank deposits of $22.5 million, no debt, and that Blickfield-related costs were incurred in 2025 with some continuing costs expected, but not substantial.

Analysts focused on Blickfield, asking where its technology fits and whether Q4 acquisition-related charges would continue. Management said LiDAR opens three growth paths: expanding the addressable market within current verticals, addressing unserved areas like storage yards and roof/corridor zones, and entering volume monitoring and traffic applications. On costs, Alicia Kelly said some future Blickfield-related expenses should continue but not be substantial, and management said the delayed U.S. projects are still active while some of the EMEA telecom project should return in 2026.