• NuWays reiterated a BUY rating on Tonies, keeping a 12-month target price of EUR 18.5.
• Report flagged Q2 group revenue of EUR 117 million, up 49% year over year on a constant-currency basis, beating consensus of EUR 108 million.
• North America drove growth, with Q2 revenue of EUR 57 million, up 85% year over year constant-currency; household penetration cited at about 12%.
• H1 free cash flow was EUR -64.3 million, attributed to inventory build ahead of a front-loaded H2 launch schedule; positive full-year FCF guidance maintained.
• Guidance reiterated for more than 20% constant-currency revenue growth to above EUR 760 million, with a 9%-11% adjusted EBITDA margin.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Tonies SE published the original content used to generate this news brief via EQS News (Ref. ID: rc_26606) on August 21, 2026, and is solely responsible for the information contained therein.