CBRAIN (CBRAIN) Q1 2026 earnings summary

Executive summary

• Positioned to capture the shift from custom-built to AI-driven standard software in government IT markets, leveraging the F2 platform for scalable, repeatable growth.

• Embedded agentic AI introduced as a core part of the F2 platform, enabling automation and compliance in government workflows.

• International expansion underway with pilot projects in California and Washington, D.C., supporting global growth ambitions.

Financial highlights

• Revenue declined in both halves of 2025 due to reduced dependence on large customers, but growth has resumed.

• Reiterated guidance for 2026: revenue growth of 10-15% and EBT margin of 20-25%.

Outlook and guidance

• Full-year outlook for 2026 remains unchanged despite temporary delays in Danish government order intake due to national elections.

• Strategy for 2026-2028 targets scalable, profitable growth by focusing on selected market segments and partner expansion.