Virtualware: Record Orders of €8M and Focus on North America
The software publisher specializing in XR technologies for business closed 2025 with record order intakes exceeding 8 million euros. Virtualware is projecting an organic growth of 30% for 2026, with North America becoming its main driver of geographic development.
North American Market Dominates Revenue
Virtualware revealed during its April 14 investor conference that the North American market accounted for 40% of its consolidated revenue in 2025. This share reflects the company's geographic profile evolution since the launch of its strategic plan for 2024-2026. The group anticipates that North America will account for 50% to 60% of total revenue in the coming years, driven by continuous investments in business development, relationships with strategic clients, and academic partnerships in the United States and Canada. Unai Extremo, CEO and founder of Virtualware, specified that the group is opening new business sectors including defense and energy.
Record Order Intakes and Revenue Growth
The consolidated revenue amounted to 4.32 million euros in 2025, marking an increase of 3% from the previous year. The annual order intakes reached a record high exceeding 8 million euros, with 93% related to the VIROO platform and associated services. In the first quarter of 2026, the orders totaled about 2.5 million euros, with 29% coming from the United States. For 2026, Virtualware aims for an organic growth of about 30%, with revenue expected to be between 5.7 and 6 million euros and an EBITDA margin of 20% to 25%, representing approximately 1.2 million euros.
North American Expansion Supported by Operational Projects
The North American expansion is supported by operational projects already in place. In Canada, an XR training program developed with Invest Windsor Essex has trained over 400 workers in preparation for the Nextstar Energy gigafactory in Ontario. Virtualware also inaugurated a new VR laboratory at the University of Lethbridge in Alberta. In the United States, the group is deploying VR laboratories in three universities: UCLA, the University of North Carolina at Greensboro, and Illinois Tech. Ohio University is already operating two VR rooms powered by VIROO and Simumatik, Virtualware's industrial emulation platform. The group has identified six growth vectors for its strategic plan 2027-2029: nuclear energy, defense, education, North American expansion, inorganic growth, and digital sovereignty.
