Hello everyone. I'm Mark Abraham, CEO of Shape Robotics and I would like to welcome you for our presentation of Shape Robotics interim report for the first quarter of 2025. We are excited to share with you our strong start to the year, some key takeaways and the financial highlights. We had an exceptional start for the year 2025 building on the momentum from a record Q4 last year. In quarter one we achieved our best last 12 months result in the history of Shape Robotics including a revenue of DKK 337 million. Key takeaways from this quarter include a 100% increase in revenue to DKK 70 million in Q1. Out of this DKK 70 million, DKK 50 million comes out of services revenue, a high contribution margin of 34% and an EBITDA of DKK 10 million.
We have also achieved a positive cash flow from our combined operating and investing activities, and we are proud to be named in the Top 30 EdTech Companies worldwide. Our growth has been driven by continued expansion in Romania and the increasing adoption of our Techducator concept. The Thinken order secured under our Lenovo TPO partnership and our solid start of the year position us well to achieve our full year guidance. Now let's delve deeper into our quarter one financial highlights. The revenue we have reached DKK 70 million, a 100% year-over-year increase. This growth was primarily driven by our expanding operation in Romania, especially due to the SmartLab project and sales of services related to new Techducator concepts. Comparing quarter one 2025 to quarter one 2024, we see an increase from DKK 34.9 million to DKK 69.8 million.
Our last 12 months revenue now stands at an impressive DKK 336.7 million. Our contribution margin increased by 211% year over year to DKK 24 million. This gives us a strong contribution margin ratio of 34%. High margin service revenue are the future for our company which represents now at 21% of the total revenue. The quarter one 2025 contribution margin of DKK 23.5 million is a significant jump from DKK 7.6 million in the same period of last year. Our last 12 months contribution margin is also DKK 113.8 million. Looking at the adjusted EBITDA, we have an increase of 250% year- over- year to DKK 10 million. Important, no non recurring costs were recognized to adjust this quarter's EBITDA. This was driven by revenue growth, contribution margin and cost optimization activities.
Now looking strictly at quarter one 2025, the adjusted EBITDA was DKK 10.4 million compared to a DKK -7 million of last. The most important is looking at the last 12 months, adjusted EBITDA will have a strong DKK 42.2 million. Now looking at the financial guidance of 2025 looking ahead, we are confident in our 2025 guidance. We project reported revenue growth of 20-35% targeting between DKK 360-DKK 410 million, but our actual Q1 shows a growth of 100%. DKK 69.8 million puts us exactly on the trajectory explained before. We expect an adjusted EBITDA margin of at least 10% translating to a minimum of DKK 36-DKK 41 million. Quarter one was actually 15%, way above target. Our EBITDA margin is guided to be a minimum of 8% or at least DKK 29-DKK 33 million.
Q1 was actually 15%. Our general assumption for this guidance include Poland becoming a significant revenue contributor, securing financing to enable continued ambitious growth, maintaining a contribution margin in the range of 29%-32%-33% and decreasing operational costs in relation to revenue compared to the year 2024. Now let's look at some exciting business updates. In quarter one we received the first order of at least 50 Thinken units valued at EUR 1.5 million through our Lenovo TPO partner. This opens a completely new avenue for distribution and growth for our company. Also we have announced last year a cost cutting program started in fiscal year 2024 that already is showing very positive results on cash flow and operating expenses. We expect a run rate saving of minimum DKK 12 million to the full year 2025.
Post quarter one developments include first a new pilot agreement in Vietnam with the Department of Education in Hanoi meant to equip 20 public schools with our Thinken mobile inclusive STEAM Lab Solution. We also are targeting a new partnership in the Middle East with Adowa Als hamel, a leading technological retail company based in Riyadh, targeting the huge potential of Kingdom of Saudi Arabia. Revenue composition, let's look at the revenue composition for quarter one 2025 divided between services with a high margin about 21% of our revenue, STEAM Solution 61%, and Fable Robots 11%. The others have decreased to 7%. Key points on quarter one 2025, our Techducator service revenue reached DKK 14.5 million which is a 21% total of the revenue. Sales of Fable also increased in Q1 2025 with 2% increase from quarter one 2024.
We also saw significant deliveries to SmartLab equipment in Romania. This in total made us achieve a contribution margin at 34%. Now comparing this quarter to last year, Fable Robots were only 2% last year, STEAM Solution 70%, and services were not even there. Other category was close to 28%. The contribution margin in first quarter of 2024 was only 22%. If we are to look in a comparison to the last year 2024, the Techducator services were only 7% of the revenue at DKK 22.6 million, Fable was at 8, STEAM Solutions at 70, and others to 15%. 12.5% of revenue in the first year 2024 came from outside Romania and was a contribution margin of 33%.
Looking at the financial position, our solid financial performance in quarter one, an increase in net working capital and comprehensive financing from Moniker Bank reflect our ability to support expected revenue growth with improved profitability in the year 2025. The net working capital stood at DKK 190 million as of March 2025, up from DKK 89 million last year. We are on track for our expected revenue growth of 20%-35% for the year 2025 with improved EBITDA profitability and we also have secured a comprehensive financing and banking facility from UniCredit like it was announced at the end of last year. Our announced cost cutting program is also progressing very well with an initial positive effect seen in quarter one cash flow. We expect a run rate saving to meet our exceeded and communicating guidance between DKK 12 million-DKK 50 million for the full year 2025.
We also remain committed to ongoing working capital optimization. Now let's look at the investment highlights. Summarizing, we provide intelligent classroom solutions and outstanding educational ecosystems, having equipped more than 2,000 schools with our products. Our Fable Robot is the most famous modular educational robot with more than 25,000 units sold worldwide. We are continuously developing products to scale our business including a new AI solution, and we have a strong partnership with world-renowned brands including Lenovo's third-party offering. Our strong growth journey is fueled by three cross-border acquisitions in Poland, Romania, and of course the opening of our greenfield company Shape Robotics Moldova. We operate in a worldwide market with a high demand for educational products and a EUR 13 billion budget estimated from the EU for digitalization of schools and learning and education by the year 2027.
To conclude looking at the investor information, please bear in mind the financial calendar. Our interim report for quarter two 2025 will be released on August 27 and the interim report for quarter three 2025 is scheduled for November 21. As usual, as custom for us. I will also want to invite you to a live streaming Q & A session that I will be hosting on LinkedIn on May 29 starting 5:00 P.M. I'll be answering questions about quarter one interim report and you can access the session directly on the company's LinkedIn page now. Thank you for your time and attention. We are very optimistic about the future of Shape Robotics as we continue to broaden our impact on global STEAM Solution.