Reach Subsea has announced its third-quarter 2025 results, delivering sound performance while continuing investments in remote technology development. Revenue for the quarter totaled NOK 688 million (down from NOK 835 million in Q3 2024), while EBIT came in at NOK 51 million (compared to NOK 134 million last year).
The softer quarter was mainly driven by lower-than-expected asset utilisation due to a slowdown in the market combined with extraordinary implementation costs linked to Reach Remote. These investments, however, represent a major milestone in the company’s long-term strategy.
'Our recent quarters have been impacted by a backdrop with lower vessel utilization, and adapting to this is a top priority for us. As the industry places increased emphasis on disciplined investments and prudent spending, so are we. The extensive verification programme of Reach Remote and additional time and cost over the past six months are relatively small compared to the breakthrough this represents,' said Jostein Alendal, CEO in Reach Subsea.
Reach Subsea remains firmly committed to transforming the subsea industry through robotisation. With Reach Remote 1 and 2 now operational across multiple time zones and orders placed for Reach Remote 3 and 4, the scale-up is well underway.
'The business case is sound even on a single-unit basis, and further fleet expansion will strengthen the economics considerably,' Alendal added.
The Reach Remote concept is more than vessels and robotics – combined with our in-house software, Reach Horizon, we deliver a compelling value proposition for customers across the ocean space. The company’s order backlog stands at NOK 1.05 billion, with a tender volume of NOK 9 billion. There is a clear increase in interest for the Reach Remote concept, reflected in growing USV-related tenders and the overall rise in tender volumes.
Q3 2025 highlights:
- Weaker 3Q than last year driven by lower-than-expected utilisation of assets and extraordinary implementation costs associated with the Reach Remote concept.
- Completed the approval process and secured a trading permit for Reach Remote 1 to operate fully remotely
- The Reach Remote scale-up commenced with the order of Reach Remote units 3 and 4.
- The outlook remains sound, with a backlog of NOK 1.05 billion and tender volume of NOK 9 billion.
- Initiated a process to explore options to further accelerate the scale –up of Reach Remote
Source: Reach Subsea
