Dott First Time EBITDA Profitable in 2025: on Track to Deploy 45,000 New Vehicles By Q2 2026

Dott Delivers €7 Million Adjusted EBITDA For Fy 2025, Achieving Profitability For The First Time

 

Despite the effect on revenue of market exits and user migration from former TIER to Dott in 2024, underlying economics improved in the second half of the year, driven by stronger rider engagement and the shift toward a more flexible revenue-share model in our city clusters. Combined with further substantial reductions in HQ costs, Adjusted EBITDA improved to €7 million profit.

 

Key Financials FY 2025 

 

    • Revenues came in at €173 million
    • Adjusted EBITDA €7 million
    • EBITDA (€4 million), with exceptionals of €11 million largely related to restructuring costs of establishing a Lean HQ 
    • Net Interest Bearing Debt €53 million, including €31 million Cash and Cash Equivalents

 

45,000 Additional New Vehicles Ordered, On Track For Planned Deployment In Q2 2026


The proceeds from the Nordic bond have enabled Dott to invest in refreshing its vehicle fleet for 2026. Approximately 13,000 new e-bikes and 32,000 new e-scooters have been ordered and are currently being shipped, with deployment on track for Q2 across key city clusters in Europe and the Middle East.

 

Earnings Expectations 2026 Reaffirmed

Adjusted EBITDA guidance for FY 2026 is reaffirmed in line with the previously communicated range of €30–40 million.

 

€10 Million Super Senior Revolving Credit Facility Secured With Rabobank; €15 Million Series D Extension To Complete By March 31, 2026

As contemplated under the Nordic Bond documentation, Dott has entered into a €10M super senior revolving credit facility (the “RCF”) with Rabobank, a longstanding partner of Dott. The facility further strengthens our capital structure and is intended to provide additional flexibility to manage cash flow throughout the year.

Concurrently with the issuance of the Nordic Bond, Dott received commitments for €15 million of equity funding as an extension to its existing Series D round. With most of the commitments already received, completion is expected before March 31, 2026.

Revised Organisational Structure Focused On Execution Of The New Vehicle Deployment In 2026

Dott co-founder Maxim Romain has taken over as CEO as of January 2026, having previously served as COO. Co-founder Henri Moissinac has transitioned to Executive Chairman.

 

Maxim Romain, CEO of Dott, commented:
“2025 was a transformational year for Dott, as we simplified the organisation and reduced costs to create a leaner, more scalable platform. Q4 performance in Paris was a highlight, with our new e-bike model significantly improving user experience and vehicle economics. We plan to replicate this across further markets in 2026.”

 

Raoul Gatzen, Group CFO of Dott, added:

“We are very satisfied to have delivered the first positive Adjusted EBITDA in Dott’s history, while strengthening our balance sheet through the Nordic Bond issuance and equity raise. We exit 2025 streamlined and focused and, with cost savings fully annualising and the new fleet arriving in 2026, we are well positioned to drive margin expansion and stronger cash generation.

The RCF completes our planned capital structure and is a continuation of our strong relationship with Rabobank, who have been a supportive partner for Dott since the outset.”

 

Henri Moissinac, Executive Chairman of Dott, commented:
“Maxim has led the business day-to-day since inception and, as CEO, will ensure Dott remains focused on operational excellence as we roll out the new fleet. I am excited to dedicate more time to longer-term strategic initiatives, ensuring we stay at the forefront of the next wave of innovation in micromobility.”

Dott Investor Relations Calendar

  • Q4 and FY 2025 Financial Report will be published on 31 March 2026
  • FY 2025 Annual Audited Consolidated Financial Statements of the Group on 30 April 2026
  • Q1 2026 Financial Report on 29 May 2026. 

About Dott
Dott is the European champion of shared micromobility. Created through the merger of operators TIER and Dott in March 2024, the company decided to move forward under the name of Dott and integrated all vehicles into the Dott app. With the mission to change mobility for good, the team is led by CEO Maxim Romain and Executive Chairman Henri Moissinac. With more than 250,000 shared vehicles in more than 400 cities across 21 countries, the 10 million users have generated over 400 million rides so far. For more information, visit www.ridedott.com