Cherry AG
XETRA:C3RY
Cherry AG
Cherry AG is a strategic management and financial holding company. The company is headquartered in Muenchen, Bayern and currently employs 484 full-time employees. The company went IPO on 2021-06-29. The firm is a manufacturer of computer peripheral equipment. The firm is global manufacturer of computer input devices with a focus on Office, Gaming, Industry, Security and switches for mechanical keyboards.
Cherry AG is a strategic management and financial holding company. The company is headquartered in Muenchen, Bayern and currently employs 484 full-time employees. The company went IPO on 2021-06-29. The firm is a manufacturer of computer peripheral equipment. The firm is global manufacturer of computer input devices with a focus on Office, Gaming, Industry, Security and switches for mechanical keyboards.
Revenue Decline: CHERRY's 9-month 2025 revenue was EUR 70.7 million, down 16% year-on-year, mainly due to inventory reductions and weak demand in Components and Americas.
Margin Pressure: Adjusted EBITDA margin for Q3 was -10.6%, with gross margins hit by inventory clearance and higher material costs.
Inventory Reduction: Inventory decreased by over EUR 5 million quarter-over-quarter, now at EUR 37.8 million, freeing up EUR 37 million in liquidity since March 2023.
Restructuring Progress: Major restructuring of the Auerbach site is nearly complete—including shifting from manufacturing to a logistics and service hub, with most costs and investments already incurred.
Digital Health Strength: Digital Health & Solutions remains profitable with strong margins; first recurring software revenues from the TI-Messenger platform have begun, with long-term growth expected.
Liquidity & Support: Cash on hand is steady at EUR 7.5 million, and the company secured new financial backing from Argand Partners, its largest shareholder.
Guidance Under Review: The company is reviewing its full-year forecast, but expects improved performance in Q4 and beyond as restructuring and channel clean-up take effect.
Strategic Shifts: Shift from B2B to B2C marketing, focus on platform/software revenues in Digital Health, and streamlined distribution structure in peripherals.
