NEX Point Public Company Limited (SET: NEX) has released its full-year 2025 financial results, revealing a year of significant transition characterized by a sharp contraction in top-line revenue but a substantial narrowing of net losses compared to the previous year.
For the year ended December 31, 2025 (YE’2025), the company reported a total net loss of THB 942.23 million, representing a 65.90% improvement over the THB 2,762.94 million loss recorded in YE’2024.
When excluding special items—which totaled THB 745.16 million and included provisions for inventory devaluation and expected credit losses—the net loss attributable to the parent company was just THB 69.35 million. This reflects a 91.43% recovery from the 2024 adjusted loss of THB 808.56 million, driven largely by an increase in the share of profit from investments in associates.
The bottom-line recovery occurred despite a severe revenue slump. Total revenue for YE’2025 plummeted 77.88% to THB 752.49 million, down from THB 3,401.37 million in 2024. The primary culprit was the commercial electric vehicle (EV) business, which saw revenue dive by THB 2,557.44 million as deliveries fell to 169 units, 620 units fewer than in the prior year.
Additionally, the computer and software segment saw a 10.11% revenue decline as it underwent a “Strategic Transformation” toward recurring income models.
On the expense side, the cost of sales and services decreased by 73.13% to THB 957.09 million, aligning with the drop in EV sales. Despite the operating loss, NEX’s financial position was bolstered by a THB 3,993.85 million capital increase, which significantly pushed total shareholders’ equity up to THB 4,521.45 million.
While 2025 was a challenging year for sales volume, NEX management is pivoting toward “Green Logistics” and new market segments. The late-year launch of the “NEX Vantastic” multipurpose van, which garnered 194 bookings, suggests a potential stabilization of demand as the company moves into 2026.
