Tonies SE Achieves EUR 78.3 Million in Q1 2024 Revenue, Fueled by International Expansion

Tonies SE, an international digital audio platform for children, reported a rise in group revenue of 20.3% year-over-year to EUR 78.3 million in the first quarter of 2024. This increase is primarily attributed to expanded activities in North America and the introduction of new products like Clever Tonies. North America alone saw a revenue growth of 46.9%, reaching EUR 27.9 million due to effective wholesale expansion and robust direct-to-consumer sales.

The company, known for its Toniebox digital audio system, experienced heightened demand during the Easter season, despite facing supply chain disruptions that led to selective product shortages. Revenue in the DACH region (Germany, Austria, and Switzerland) increased modestly by 2.4%, amounting to EUR 40.2 million. Contrastingly, revenues in the Rest of World segment, particularly in the UK and France, surged by 48.8% to EUR 10.3 million, showcasing significant market penetration and consumer adoption.

Looking ahead, Tonies SE reaffirms its revenue targets for 2024, anticipating more than EUR 480 million in group revenue, with North American revenue expected to surpass EUR 200 million. The company also predicts a growth in adjusted EBITDA margin within the 6 to 8 percent range and a positive turnover in free cash flow. These projections are based on current exchange rates and market conditions remaining stable.