Tonies Se Class A · XETR:TNIE
Tonies Se Class A — Tonies Se Reg A — Q3 2025 Earnings Presentation
39 slides from Tonies Se Class A's earnings presentation, Nov 13, 2025
Slide 1: Earnings Presentation Q3 2025
Earnings Presentation Q3 2025 tonies SE | November 13, 2025
Slide 2: Disclaimer
Disclaimer This document contains forward-looking statements. Forward-looking statements can typically be identified by the use of words such as "expects", "may", "will", "could", "should", "intends", "plans", "predicts", "envisages" or "anticipates" or other words of similar meaning. These forward-
Slide 3: Who you have on the call today
Who you have on the call today Tobias Wann Hansjörg Müller CEO CFO tonies® 3
Slide 4: Agenda
tonies SE | Earnings Presentation Agenda Welcome to tonies Business Update Q3 2025 Results Q3 2025 Outlook FY 2025 Q&A tonies® 4
Slide 5: Welcome to tonies
Welcome to tonies tonies® 5
Slide 6: We have built the largest interactive audio experience platform for children in the world
We have built the largest interactive audio experience platform for children in the world We are the #1 audio platform for kids globally… …and have unparalleled stickiness Families in >100 countries >10 million >134 million ~282 min have activated a Toniebox Tonieboxes sold Tonies sold Ø weekly play
Slide 7: Q3 performance at a glance
Q3 performance at a glance – fully on track for a successful FY 2025! Toniebox platform grows …fueling the highly predictable Revenue YTD 2025 – constant exponentially every year… repeat purchases of Tonies currency (cc): Cumulative Tonieboxes sold (Q4’16-Q3’25 in #) Cumulative Tonies over customer
Slide 8: Business Update Q3 2025
Business Update Q3 2025 tonies® 8
Slide 9: Major business highlights from Q3
Major business highlights from Q3 – we are well prepared for a successful Q4 2025 Our value levers Today’s focus Product Market insights Partnerships Internationalization Our biggest innovation since Toniebox 1: Toniebox 2 (TB2) has hit the markets! Gross margin NA: Strong momentum Extending our tru
Slide 10: Toniebox 2 is built on the winning formula of Toniebox 1
Toniebox 2 is built on the winning formula of Toniebox 1 – the #1 audio platform for kids globally #1 audio platform for kids globally Toniebox 1 Toniebox 2 Toniebox 2 is our new >10 million central platform device, Tonieboxes sold1 replacing Toniebox 1 >134 million Tonies sold1 ~282 min Ø weekly pl
Slide 11: Toniebox 2: Opening a door to a playful interactive world
Toniebox 2: Linear Audio Interactive Play Opening a door to a playful interactive world beyond linear Full backwards Toniebox 2 enabling compatibility of Tonies listening and launch of new 1+ certified My First Tonies new experience Tonieplay Toniebox 2 A whole new way to play and experience your To
Slide 12: Extending our value proposition and unlocking new growth vectors
With the launch of Toniebox 2 and Tonieplay we extend our value proposition and unlock new growth vectors Illustrative Tonies Tonieplay Full backwards Opportunities for new partners and Toniebox 2 attractiveness compatibility licensing agreements Cross- / upsell TB2 1+ certification and potential la
Slide 13: Early signals from launch validate our growth vectors
Early signals from launch validate our growth vectors Drives upgraders ~40% share of upgraders since launch globally, with lower share expected from current platform during Christmas period as TB2 will become entry point to our platform Drives engagement ~30% of Toniebox 2 setups in newly acquired h
Slide 14: We celebrated by taking over cities in our key geographies
With our global Toniebox 2 launch, we celebrated by taking over cities in our key geographies… Launch events from August to October in all our core markets… …and we continue to take over cities Times Square, NYC Aug 27: Berlin Aug 27: London Sep 13: Sydney Oct 1: Paris Sep 15: New York Beaugrenelle,
Slide 15: An iconic campaign across media channels
…with an iconic campaign across media channels Our first global, multi-medial campaign to strengthen global brand equity tonies® 15
Slide 16: We had all the eyeballs, generating global buzz
We had all the eyeballs, generating global buzz >1bn impressions through global news coverage tonies® 16
Slide 17: Consumers are raving about their early TB2 experience
Consumers are raving about their early TB2 experience “My daughter absolutely loves “Bought for my 4-year- the Toniebox 2! […] the new 4.6 old, but my 1-year-old features are amazing, the average rating1 loves it too! Soo happy sound is much better quality, and it gets them away from screens.” she l
Slide 18: We have seeded the momentum for a successful peak season
We have seeded the momentum for a successful peak season 1 Built the ground swell and awareness The launch was 2 Earned customer trust and excitement about the first impression. 3 Prepared powerful promotions Holiday period is about activating our platform at scale. 4 Set up the wholesale experience
Slide 19: North America: We are ready to keep the momentum
North America: We are ready to keep the momentum… Keeping up our momentum in North America In operation at Walmart with In operation at Target Part of all major Trendpod and featured in with 12 feet toy catalogues Christmas spots Walmart Target Amazon Meijer Lufthansa tonies® 19
Slide 20: North America: ability to secure the hottest authentic licenses
North America: …and have the ability to secure the hottest authentic licenses like the Ms. Rachel Tonie Ms. Rachel Restocks sold out within … >13bn views and 17.5m subscribers on YouTube 1 day … >7.6m followers on TikTok 127k customers signed … social media superstar up for back-in-stock in the US e
Slide 21: DACH delivers growth in 2025
DACH: DACH delivers growth in 2025, double-digit YTD… “Gondolas” at various retailers +16% DACH continues to be a revenue Growth Story… growth YTD …tonies brand is as “hot” as ever, proven by exceptional 82% aided brand awareness1 …new product drove 5k+ additional launch positionings on top of our r
Slide 22: DACH: commercial highlights already in Q3
DACH: …with some commercial highlights already in Q3 Christmas hype is (again) in full swing… …and channel innovation continues ~2x YoY growth in Piloted first tonies vending “Christmas Tonies” sales – machine in Aachen add. digital offer created to meet customer demand Advent Calendar Tonie sold ou
Slide 23: Partnership with Hasbro for Tonieplay
Partnerships: As part of our platform strategy, we have announced new cooperation with Hasbro for Tonieplay We’ll tonify Monopoly as the first Hasbro board game classic in Q2 2026! X Extends trusted licensing agreement with Hasbro since 2020 Deepens strategic alignment But stay tuned… between brands
Slide 24: tonies has a new CFO
tonies has a new CFO! A few personal words… • Appointed Chief Financial Officer at tonies on September 1, 2025 • Track record of driving profitable growth and transformation globally, incl. APAC • 25+ years in leadership roles across Finance, Strategy, and Operations Hansjörg Müller CFO tonies® 24
Slide 25: Results Q3 2025
Results Q3 2025 tonies® 25
Slide 26: YTD: Group growth and international mix
YTD: ~33% Group growth YTD – All markets with strong growth, share of international expands to ~60% Revenue by region (in EURm and constant currency) Revenue split (in EURm) 9M 2024 International +33% 9M 2025 DACH 321.8 DACH with exceptional Q3 growth of 45% due to launch phase-in of Toniebox 2 into
Slide 27: YTD: Launch of Toniebox 2 and Tonieplay
YTD: Launch of Toniebox 2 and Tonieplay in Q3 skewed H1 product mix, Q3 product mix back to “normal” pattern Revenue by product category (in EURm and constant Revenue split by product category (in EURm) currency) 9M 2024 Tonieboxes +33% 9M 2025 Tonies 321.8 Accessories & Digital 23% +36% 242.2 After
Slide 28: Q3: Exceptionally strong Q3 due to Toniebox launch
Q3: Exceptionally strong Q3 due to Toniebox 2 launch, driven by Toniebox 2, Tonieplay & My First Tonies sell-in Revenue by region (in EURm and constant currency) Revenue by product category (in EURm and constant currency) Q3 2024 Q3 2024 Q3 2025 Q3 2025 +52% +52% +49% +45% 145.2 +47% 145.2 +59% 95.3
Slide 29: We prove resilience across unpredictable macro effects
We prove resilience across unpredictable macro effects US tariffs ✔ FX ✔ Consumer sentiment ✔ Clarity for 2025, following We are in a position to mitigate We operate a resilient recent announcements FX effects on business category, product & business model • Increased predictability and • “Natural h
Slide 30: Outlook FY 2025
Outlook FY 2025 tonies® 30
Slide 31: We are well positioned to deliver our guidance
We are well positioned to deliver our guidance – everything is set for another Q4 record quarter Group net revenue YTD vs. 2025 FY guidance EUR >600m1 100% In 2025, Toniebox 2 launch effects have led to shifts in “normal” Open to meet 47% intra-year phasing 2025 guidance We have recorded >50% of our
Slide 32: FY 2025 Guidance confirmed
FY 2025 Guidance confirmed: Profitable growth continues Results Guidance FY 2024 FY 2025 >25% YoY to above EUR 600m Group revenue EUR 481 million in constant currency >30% YoY North America revenue EUR 210 million in constant currency Adjusted EBITDA margin (%) 7.5% 6.5 - 8.5% Based on the assumpt
Slide 33: Q&A
Q&A tonies® 33
Slide 34: Meet us at roadshows and conferences
Meet us at roadshows and conferences Results Roadshows and conferences • Nov 17: Metzler Roadshow, Frankfurt • Nov 25: Eigenkapitalforum, Frankfurt • Dec 02: Digital German Select VI Q4 2025 • Nov 13: Q3 2025 Investment Conference (virtual) • Dec 03: 23rd Berenberg European Conference, London • Begi
Slide 35: Key takeaways: tonies is ready for Q4 and beyond
Key takeaways: tonies is ready for Q4 and beyond Exceptional Q3 performance I All markets with strong growth YTD – Toniebox 2 launch in Q3 resulted in special phase-in effects. Toniebox 2 is a launch success II Our biggest innovation to date has landed across markets – growth vectors show first plan
Slide 36: Wishing everyone an amazing day!
…wishing everyone an amazing day! tonies® 36
Slide 37: Confidentiality
Confidentiality All information within these slides are strictly confidential and can only be handed over or published to third persons with the prior written permission of tonies GmbH. © tonies GmbH, 2025 www.tonies.com
Slide 38: BACKUP
BACKUP tonies® 38
Slide 39: tonies results at a glance
tonies results at a glance in EUR million (nominal) Q3 2025 Q3 2024 Change 9M 2025 9M 2024 Change Revenue 141.0 95.3 48.0% 317.6 242.1 31.2% … by region DACH 61.3 42.4 44.6% 132.1 114.3 15.6% North America 51.2 36.9 38.8% 121.8 92.1 32.1% Nominal Rest of World 28.5 16.1 77.0% 63.7 35.7 78.4% … by pr