Oatly Group AB (OTLY) Income Statement
OTLY 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsOTLY revenue and net income
Where OTLY's revenue goes
2025Each bar shows an amount and its share of revenue. OTLY kept −17.7% of revenue as net income.
OTLY profit margins
OTLY growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +4.7% | +6.1% | +15.4% | — |
| Gross profit | +17.2% | +51.3% | +16.5% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
OTLY quarterly EPS vs estimates
Oatly Group AB beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 28, 2026 (estimate $-0.72).
OTLY income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $862.5M | $823.7M | $783.3M | $722.2M | $643.2M | $421.4M | $204.0M |
| Cost of revenue | $585.4M | $587.2M | $631.3M | $642.2M | $488.2M | $292.1M | $137.5M |
| Gross profit | $277.1M | $236.5M | $152.1M | $80.0M | $155.0M | $129.2M | $66.6M |
| Research & development | $18.6M | $30.1M | $21.0M | $22.3M | $16.8M | $6.8M | $4.3M |
| Sales, general & admin | $320.6M | $324.7M | $400.6M | $412.8M | $353.9M | $167.8M | $93.4M |
| Total operating expenses | $344.8M | $422.6M | $609.1M | $476.0M | $368.8M | $176.3M | $97.3M |
| Operating income | −$67.7M | −$186.2M | −$457.0M | −$396.0M | −$213.7M | −$47.1M | −$30.8M |
| Interest income | $4.5M | $10.3M | $12.7M | $2.1M | $1.8M | $119,000 | $46,000 |
| Interest expense | $77.2M | $68.4M | $49.3M | $14.5M | $15.4M | $12.5M | $2.5M |
| Income before taxes | −$144.9M | −$198.6M | −$408.2M | −$397.4M | −$215.0M | −$58.0M | −$34.4M |
| Income taxes | $8.2M | $3.7M | $8.9M | −$4.8M | −$2.7M | $2.4M | $1.3M |
| Net income | −$152.8M | −$201.9M | −$416.9M | −$392.6M | −$212.4M | −$60.4M | −$35.6M |
| EBITDA | −$96.3M | −$86.1M | −$288.1M | −$335.2M | −$172.1M | −$33.0M | −$23.7M |
| EPS (diluted) | −$3.82 | −$3.84 | −$4.53 | −$9.15 | −$3.49 | −$0.06 | −$0.02 |
| Gross margin | 32.1% | 28.7% | 19.4% | 11.1% | 24.1% | 30.7% | 32.6% |
| Operating margin | −7.9% | −22.6% | −58.3% | −54.8% | −33.2% | −11.2% | −15.1% |
| Net margin | −17.7% | −24.5% | −53.2% | −54.4% | −33.0% | −14.3% | −17.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $240.1M | $228.3M | $222.8M | $222.8M | $208.4M | $197.5M | $214.3M | $209.3M | $202.2M | $199.2M | $204.1M | $187.6M |
| Cost of revenue | $158.7M | $152.0M | $156.4M | $156.4M | $140.7M | $135.2M | $152.7M | $146.9M | $143.2M | $145.3M | $156.3M | $155.0M |
| Gross profit | $81.4M | $76.3M | $66.3M | $66.3M | $67.6M | $62.3M | $61.6M | $62.4M | $59.0M | $53.9M | $47.8M | $32.6M |
| Research & development | $4.6M | $4.9M | $4.5M | $4.5M | $4.6M | $4.4M | $3.7M | $10.9M | $10.9M | $4.6M | $5.3M | $4.7M |
| Sales, general & admin | $94.7M | $83.5M | $83.9M | $75.1M | $84.1M | $77.5M | $82.0M | $79.7M | $84.3M | $78.7M | $80.7M | $87.1M |
| Total operating expenses | $98.7M | $87.7M | $83.3M | $83.3M | $89.7M | $80.9M | $151.3M | $90.2M | $98.0M | $82.3M | $290.4M | $99.9M |
| Operating income | −$17.3M | −$11.3M | −$16.9M | −$16.9M | −$22.1M | −$18.6M | −$89.7M | −$27.8M | −$39.1M | −$28.4M | −$242.6M | −$67.3M |
| Interest income | $936,000 | $899,000 | $1.1M | $987,000 | $1.1M | $1.3M | — | — | $2.9M | — | $5.1M | $4.4M |
| Interest expense | $14.9M | $14.3M | $47.4M | $16.2M | $16.4M | $13.6M | $15.5M | $15.5M | $16.5M | $12.3M | $15.7M | $16.0M |
| Income before taxes | −$30.7M | −$12.3M | −$64.5M | −$64.5M | −$54.0M | −$9.2M | −$90.9M | −$33.4M | −$28.7M | −$45.8M | −$293.1M | $45.5M |
| Income taxes | $631,000 | −$124,000 | $923,000 | $923,000 | $1.9M | $3.4M | $505,000 | $1.4M | $1.8M | $54,000 | $5.7M | $1.5M |
| Net income | −$31.3M | −$12.0M | −$65.3M | −$65.3M | −$55.9M | −$12.4M | −$91.2M | −$34.8M | −$30.4M | −$45.8M | −$298.7M | $44.1M |
| EBITDA | −$4.7M | $14.9M | −$36.0M | −$36.0M | −$41.7M | $15.6M | −$27.7M | −$5.2M | $113,553 | −$20.4M | −$45.9M | $74.0M |
| EPS (diluted) | −$0.99 | −$0.37 | −$0.02 | −$2.00 | −$1.77 | −$0.03 | −$0.77 | −$0.89 | −$0.63 | −$1.55 | −$0.50 | $1.12 |
| Gross margin | 33.9% | 33.4% | 29.8% | 29.8% | 32.5% | 31.6% | 28.8% | 29.8% | 29.2% | 27.1% | 23.4% | 17.4% |
| Operating margin | −7.2% | −5.0% | −7.6% | −7.6% | −10.6% | −9.4% | −41.9% | −13.3% | −19.3% | −14.3% | −118.9% | −35.9% |
| Net margin | −13.0% | −5.3% | −29.3% | −29.3% | −26.9% | −6.3% | −42.6% | −16.6% | −15.0% | −23.0% | −146.3% | 23.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in OTLY's financial statements (latest annual report filed March 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
OTLY financial results
In fiscal year 2025 (ended December 31, 2025), Oatly Group AB reported revenue of $862.5 million, up 4.7% from the year before. It had a net loss of $152.8 million, a net profit margin of −17.7%. Diluted earnings per share came to −$3.82. Over five years revenue grew at an average rate of 15.4% a year.
See the OTLY stock overview for the latest quote and news, or the OTLY chart for price history and technical indicators.
OTLY income statement FAQ
What is Oatly Group AB's annual revenue?
Oatly Group AB reported total revenue of $862.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 4.7% from $823.7 million the previous year.
Is Oatly Group AB profitable?
No. Oatly Group AB reported a net loss of $152.8 million in fiscal 2025, a net profit margin of −17.7%; its operating margin was −7.9%.
What is Oatly Group AB's gross margin?
Oatly Group AB's gross margin was 32.1% in fiscal 2025: for every $100 of revenue, Oatly Group AB kept $32 after the direct cost of its products and services.
How much does Oatly Group AB spend on research and development?
Oatly Group AB spent $18.6 million on research and development in fiscal 2025, 2.2% of revenue.
How fast is Oatly Group AB growing?
Revenue grew 15.4% a year on average over the last five fiscal years, from $421.4 million to $862.5 million.
What are Oatly Group AB's earnings per share?
Oatly Group AB earned $-3.82 per diluted share in fiscal 2025, compared with $-3.84 a year earlier.
When will Oatly Group AB report its next earnings?
Oatly Group AB is expected to report results for the quarter ending September 30, 2026 on October 28, 2026 before the market opens.
When does Oatly Group AB's fiscal year end?
Oatly Group AB's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 13, 2026.