The Spanish artificial intelligence technology company reports a net loss of €5.7 million in the first half, compared to profits from the previous year. Its turnover rises by 5.2%, reaching €8.4 million.
The artificial intelligence company Substrate AI, listed on BME Growth, recorded net attributed losses of €5.7 million in the first six months of the year, compared to profits of €213,868 in the same period of 2025. This information, reported by pressdigital.es, comes from a statement released by the company itself this Thursday.
The revenue reached €8.4 million in the audited accounts, representing a year-on-year increase of 5.2%. The gross operating result (EBITDA) was negative at €227,800, although the company notes that it improves on the previous results published earlier. In adjusted terms, the group's EBITDA is positive at €161,697.
According to the company, the evolution reflects the controlled impact of the costs of operational restructuring, the simplification of the portfolio, and lower activations in the semester. Its main client accounts for 15.8% of the revenue, while the top ten clients make up 65.7% of the business.
To finance this phase, the firm closed a round of €39.2 million with the backing of the Government through the Spanish Society for Technological Transformation (SETT), which has contributed €19 million. These funds will support the 2026-2030 business plan, which aims to exceed €100 million in revenue by 2030.
The plan involves moving away from third-party computing intermediation to focus on proprietary artificial intelligence models. The CEO, Lorenzo Serratosa, stated:
“The results of the first half reflect the growth in revenue and the gradual diversification of our business model. The financing obtained strengthens our ability to turn the technology developed over the past few years into clear, accessible, and scalable products. We face the second half of the year with confidence in surpassing these results.”
In the long term, the group expects to generate income through the sale of consumption tokens, recurring subscriptions to its platforms, and billable technological services.
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