Oatly

Oatly is a Swedish food technology company founded in 1994, originally developed from research at Lund University. The company produces oat-based milk, yogurt, ice cream, and cream alternatives, and is widely credited with creating the mainstream oat milk category globally. Oatly went public on the Nasdaq in May 2021 and trades under the ticker OTLY.\n\nIn fiscal year 2025, Oatly reported revenue of $862.5 million, up 4.7% year-over-year, and achieved its first full year of profitability since going public — a major milestone for the brand. The company sold a record 593 million liters in 2025 with a gross margin of 32%. Growth was strongest in Europe (+11.2%) and Greater China (+13.1%), partially offset by a 9.1% decline in North America. Adjusted EBITDA for Q4 2025 was $11 million versus a loss in the prior year.\n\nOatly faces a complex competitive environment as private-label oat milks from large retailers erode price premiums in the US, while the company's premium positioning and sustainability mission remain strengths in European and Asian markets. The 2026 outlook targets 3–5% constant currency revenue growth and $25–30 million in adjusted EBITDA, suggesting a measured path toward sustained profitability.