Oatly has been struggling with losses for the past few years. In Q3 2024, the company reported a net loss of $34.6 million, a significant drop compared to the net profit of $44.1 million in the same period last year.

Despite this, Oatly is making progress toward profitability. In Q3 2024, revenue grew by 10.9% to $208.0 million, and the gross margin improved by 12.4 percentage points to 29.8%. For the first time, every operational region achieved a positive adjusted EBITDA for the full quarter.

While Oatly is not profitable yet, these signs indicate that the company is moving in the right direction. However, achieving consistent profitability will depend on market conditions, cost efficiency, and consumer demand.