Elumeo Se · XETR:ELB
Elumeo — Q1 2026 Earnings Presentation
30 slides from Elumeo's earnings presentation, Jun 15, 2026
Slide 1: Q1 2026 Financial Earnings Call
Q1 2026 Financial Earnings Call June 15, 2026 1
Slide 2: Summary of key developments in Q1 2026
elumeo Summary of key developments in Q1 2026 After successful completion of the cost and efficiency program, elumeo returned to profitability in Q1 2026. Adjusted EBITDA improved to EUR 0,2m (PY EUR -0,6m). Q1 2026 Revenue in line with expectation at EUR 9,6m (PY EUR 11,1m), gross profit margin at
Slide 3: Table of contents
Table of contents 01 elumeo at a glance 02 Key developments in Q1 2026 03 Financials in Q1 2026 04 Outlook 3
Slide 4: One Mission: Bringing emotion back into e-commerce
One Mission: Bringing emotion back into e-commerce Bringing emotion back into e-commerce by building next-level video-shopping experiences Core belief Core driver Core approach Emotion is the driving force behind Video-shopping is the key to elumeo builds technology platforms successful e-commerce g
Slide 5: Core strategy remains the same: emotional video shopping with integrated value chain
Core strategy remains the same: We combine emotional video shopping experience with our integrated value chain on our AI-tech-platform Jewelry video shopping via our TV channels and online Via our TV channels and video-based shopping formats, we provide an emotional and inspirational shopping experi
Slide 6: Table of contents
Table of contents 01 elumeo at a glance 02 Recap FY 2025 03 Financials Q1 2026 04 Outlook 6
Slide 7: Recap FY 2025: We delivered on our guidance
FY 2025 Recap FY 2025: We delivered on our guidance; no significant changes in the figures compared to the preliminary data published on April 30, 2026 Guidance Preliminary FY 2025 Guidance for 2024 (1) FYApril 2024 Audited FY 2025 for 2025 Published 30th, 2026 Revenue -10% to -15% -9% -9,9% growth
Slide 8: Recap: On 1st April 2025, a restructuring program was executed
2025 RESTRUCTURING Recap: On 1st April 2025, a restructuring program was executed in order to return to profitability Transition to automated shows and AI -based platform Product profitability Reduced live hours from 15 to 10 Cost reductions in personnel related Reduction of less profitable U50 hour
Slide 9: Table of contents
Table of contents 01 elumeo at a glance 02 Key developments in Q1 2026 03 Financials Q1 2026 04 Outlook 9
Slide 10: elumeo SE returns to profitability in the first quarter of 2026
Q1 2026 elumeo SE returns to profitability in the first quarter of 2026 Revenue Gross profit SG & A reduction Adj. EBITDA In m EUR In m EUR In m EUR In k EUR -13% -0,5% -15% 201 11,1 -551 9,6 5,0 4,9 5,7 4,9 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 10 elumeo finance data
Slide 11: Focus on Jewelry above 50 EUR per piece
PRODUCT STRATEGY Focus on Jewelry above 50 EUR per piece allowed us to reduce number of pieces disproportionately to the gross profit Average Revenue per Piece increased after Pieces sold below EUR 50 and impact restructuring on gross profit In EUR, revenue per piece Q1 2026 YoY Restructuring April
Slide 12: Successful completion of cost and efficiency program with 22% decrease in SG&A
COST PERFORMANCE elumeo Successful completion of cost and efficiency program with 22% decrease in SG & A in Q1 2026 vs. Q1 2024 Q1 2024, Q1 2025 and Q1 2026 – SG & A overview (in m EUR) and SG & A in % of revenue Reduced personnel cost - 22% Optimized platform & marketing cost 6,3 5,7 Selling and (=
Slide 13: elumeo returned to positive adjusted EBITDA
PROFITABILITY elumeo returned to positive adjusted EBITDA Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Positive Adj. EBITDA +0,2 m 0,2 0,1 0,0 Adjusted -0,05 EBITDA in m EUR -0,6 -1,2 13 Source: Financial data
Slide 14: As planned, in our German TV business we reduced the volume of pieces sold
TV DACH As planned, in our German TV business we reduced the volume of pieces sold and focused on more profitable higher price points and high-value customers Pieces sold Revenue Average revenue per piece Revenue per customer of TV business of TV business of TV business of TV business in k in m EUR
Slide 15: Profitability of new product (Premieres) continues to improve
PRODUCT PROFITABILITY The profitability of new product (“Premieres”) continues to improve despite the rise in precious metal prices Improvement of Live TV Profit-per-show-minute (ppm) of Premieres 2025 H2 YoY 2026 Q1 YoY ppm in EUR ppm in EUR +16% +22% 77 73 63 63 H2 2024 H2 2025 Q1 2025 Q1 2026 TV
Slide 16: Web with small revenue growth, but increased revenue per piece
WEB Web with small revenue growth, but increased revenue per piece and revenue per customer Pieces sold Revenue Average revenue per piece Revenue per customer of WEB business of WEB business of WEB business of WEB business in k in m EUR in EUR in EUR -28% -8% +28% +15% 52 4,2 103 3,9 258 225 38 80 Q
Slide 17: We have optimized our online marketing and prepared the WEB for scaling
WEB We have optimized our online marketing and prepared the WEB for scaling by improving gross profit of new customers by 18% Current share of Online Marketing Budget Gross profit of new web customers after first 30 days (30-day-CLV) in Q1 2026 vs. Q1 2025 In EUR margin 21% +18% 72 16% 16% 14% 61 Q1
Slide 18: Juwelo's new multi-language platform: AI as catalyst for internationalization
#juwelo100 Juwelo’s new multi-language platform AI is the catalyst for lean & fast tech-driven internationalization German Live show AI translated international shopping shows AI translation Using our self-developed We combine AI translations and This allows us to leverage our video technical platfo
Slide 19: Focus on profitability & scalability for our international channels
#juwelo100 elumeo Focus on profitability & scalability for our international channels Revenue of international linear TV channels Target for 2026: Focus on profitability Total TV sales in Spain and Italy Optimized product portfolio and platform +9% -15% 250.000 € +6% +18% -19% +11% Optimized TV reac
Slide 20: Reduction of unprofitable products below 50 EUR impacted international revenue
#juwelo100 Reduction of unprofitable products with selling price below 50 EUR impacted revenue in international channels Revenue of “Below 50 EUR product” after restructuring Milestones and next steps for international scaling Q1 2026 YoY, Spain and Italy 120 -60% In July 2024, we have started to di
Slide 21: Successful launch of the webshop: second step of new backend evaluation
#juwelo100 With the successful launch of the webshop the second step of the evaluation of our new backend has been completed November May Q3 2025 2026 2026 Payment Juwelo External Backend logins CRM 2.0 Agentic Examples for Commerce Examples for integrations Content integrations Management 21
Slide 22: Table of contents
Table of contents 01 elumeo at a glance 02 Key developments in Q1 2026 03 Financials Q1 2026 04 Outlook 22
Slide 23: Revenue decreased by 13% in Q1/2026, gross profit stable YoY
Financials elumeo Revenue decreased by 13% in Q1/2026 compared to Q1/2025, gross profit stable YoY thanks to improved gross profit margin % Q1/2026 vs. Q1/2025 – performance overview (in m EUR) Revenue Gross profit margin % Gross profit in m EUR in m EUR -13,0% +6,4 %P. 0,0% 11,1 9,6 51,1% 5,0 4,9 4
Slide 24: Adjusted EBITDA returned to profitability
Financials elumeo Adjusted EBITDA returned to profitability Performance overview (in m EUR) Total cost (SG & A + Shipping) Adjusted EBITDA in m EUR in m EUR -22% -15% 0,2 6,3 5,7 -0,6 4,9 -478 Q1/2024 Q1/2025 Q1/2026 Q1/2025 Q1/2026 Significant decrease in SG & A thanks to the Adjusted EBITDA: Profi
Slide 25: Effects – From EBIT to Adjusted EBITDA in Q1 2026
Financials elumeo Effects – From EBIT to Adjusted EBITDA in Q1 2026 k EUR 26 190,0 137 140,0 201 90,0 175 40,0 38 -10,0 EBIT Depreciation EBITDA Consulting fees Vodafone Adjusted EBITDA 25
Slide 26: elumeo is evaluating legal options against Vodafone over excessive feeds
Outlook 2026 elumeo elumeo is evaluating legal options against Vodafone over excessive feeds The restructuring initiated in Q2 2025 was triggered by increased feed-in fees per household in cable networks following the elimination of the so-called ancillary cost privilege (“Nebenkostenprivileg”) for
Slide 27: Table of contents
Table of contents 01 elumeo at a glance 02 Key developments in Q1 2026 03 Financials Q1 2026 04 Outlook 27
Slide 28: Outlook 2026: AI-driven efficiencies to maintain profitability
Outlook 2026 elumeo Outlook 2026: Thanks to our focus on AI-driven efficiencies, we expect to maintain profitability despite strong market uncertainties and decrease in consumer sentiment Consumer sentiment index went down in Q2 2026 related to the war in Our guidance for 2026 reflects the elevated
Slide 29: Outlook 2026: guidance
Outlook 2026 elumeo Outlook 2026: Thanks to our focus on AI-driven efficiencies, we expect to maintain profitability despite strong market uncertainties Revenue Gross profit margin Adjusted EBITDA -7% / +10% 47 - 49% EUR -0,5m / EUR 1,5m 29
Slide 30: Executive Board and Investor Relations
Executive Board Wolfgang Boyé , Boris Kirn, Dr. Susanne Ries, Christian Senitz Managing Directors Florian Spatz, Boris Kirn Investor Relations Florian Spatz Erkelenzdamm 59/61 10999 Berlin E - Mail: ir@elumeo.com Phone: +49 30 69 59 790 Fax: +49 30 69 59 79 - 650 30