Coming soon, pending on companies house.
Not long until we find out how naim did in a challenging market during 2025.
2023 turnover was £39 million, 2024 £26M.
Fingers crossed things have improved.
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With the change of ownership surely whatever they did last year will be academic?
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Turnover of £23.2m in 2025, so a further reduction. While the accounts make for gloomy reading, note the Future Developments section: new products in 2026 and going forward. As 2026 is over half way through, they’d better get a wiggle on.
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That is an interesting read. I am no expert in understanding such financial reports, but there seems to be a lot of focus on the Focal brand and not so much on Naim when it comes to new products and R&D. If I read it correctly, the financial situation is not too bad, given the fact that a possible debt situation is well under control. I hope Naim will introduce new products soon (under their own name) and show their potential.
Thanks for sharing @HungryHalibut
The full report is on the Companies House website, but the above should give a good summary for most people.
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It has seemed to me that since linking with Focal the emphasis of the Group has always been more on Focal than Naim (remember the website debacle?), and much of Naim’s research focussed on the powering of, or within, Focal products, so no surprise in that respect. I wonder if the new ownership will change overall foci?
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Most of the usual hifi launch events are behind us for 2026, perhaps they will just launch via the dealer network, and save the events money. Would be nice to see a new Naim product, but 2026 is running out.
You can interpret this in many ways … to me, it looked also as a general statement: releasing new products … if it is not feasable in 2026, then 2027
To me it reads like ‘we have issues, but we have them under control’ and not like ‘oh dear, we are in big trouble’. But I can’t help worrying about the focus on ‘Focal Powered By Naim’ stuff i.s.o. focus on Naim as a separate brand. Hmmm…just noticed that the focalpoweredbynaim.com web-site is also down. Not a good way to work on the brand.
3 mill down on last year, probably not as bad as some though it might be?
Hopefully things will inpove with the new owners going forward, as you can’t keep going backwards obviously.
Just need to see what direction Naim heads off in.
Concurrent years of (increasing) loss, and no indication that anything was about to change. Perhaps the community here should be regarding the Barco acquisition in a slightly more favourable light.
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But how much of what the say on the “ Future Developments and R&D “ bit needs to be true ?
Any firm will want to present an upbeat future.
A company would not normally lie in its statutory accounts. It’s not the Daily Mail.
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Not exactly, as has 5 1/2 months left which is plenty of time to release plenty of products! However it would seem that products under Naim’s name are either not parts of whatever was expected to be launched throughout 2026, or are behind schedule.
Would you launch new HiFi products in summer time (at least my half of the world)? Either the beginning or the end of the year sounds more logical to me. So, I have my hopes up for later this year 
Would be great. Mind you, the only temptation for me would be a 222/250 combo, which is already available. Sadly a new 500 series or above would be way, way outside my comfort zone, as indeed it is now.
HH – the numbers cannot lie, but of course they can be ‘managed’, but the accompanying commentary can be tilted in so many ways. I’m not suggesting that it’s the case here…but it happens far more than people realise.
Not wrong.
When it mentions the Focal products released does that mean that these products are included in the turnover figures? I would have presumed not but why mention them then, a bit like Porsche mentioning the VW ID3 Neo in their report.
.sjb
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