Wavestone
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Wavestone (WAVE) investor relations material

Wavestone Q3 2026 TU earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 TU earnings summary2 Feb, 2026

Executive summary

  • Q3 2025/26 revenue increased by 3% year-over-year to €247.1m, with a 2% organic growth rate, aided by a favorable working day impact of 1%.

  • Revenue for the first nine months reached €705.0m, up 1% from the prior year, and stable on an organic basis.

  • Consultant utilization rate averaged 72% over nine months, improving from 71% in H1 2025/26.

  • Average daily rate was €938, nearly unchanged from the previous year.

  • Order book stood at 4.7 months as of December 31, 2025, up from 4.2 months at the end of FY 2024/25.

Financial highlights

  • Q3 revenue up 3% year-over-year; organic growth at 2% after adjusting for scope and forex.

  • Nine-month revenue up 1% year-over-year; organic revenue stable.

  • Average daily rate nearly unchanged at €938; up 1% on a constant scope and forex basis.

  • Staff turnover rate at 12%, down from 13% at end of September.

  • Headcount was 6,064, including 98 from the Wivoo acquisition.

Outlook and guidance

  • Gradual improvement in business activity expected in early Q4, despite typical utilization rate slowdown.

  • Positive organic growth anticipated in Q4, though potentially moderated by lower subcontracting revenue.

  • AI-related projects to represent at least 14% of total revenue in 2025/26, up from 8% last year.

  • 2025/26 annual objectives confirmed: revenue above €943.7m and recurring operating margin around 13%, on a constant forex basis and excluding new acquisitions.

What underpins the 14% AI revenue target?
Order book's impact on Q4 organic growth.
How does decreased subcontracting affect margin?
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Q4 2026 TU30 Apr, 2026
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Frequently asked questions

Wavestone SA is a French consulting firm specializing in digital transformation, strategy, and management consulting services. The company supports organizations across various sectors, including financial services, energy, transportation, and healthcare, helping them optimize performance, enhance digital capabilities, and navigate regulatory challenges. Wavestone provides expertise in areas such as IT strategy, cybersecurity, operational efficiency, and innovation, working closely with clients to implement transformative solutions. The company is headquartered in Paris, France, and its shares are listed on Euronext Paris.

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