CM.com (CMCOM) Q1 2026 TU earnings summary

Executive summary

• Achieved 9% year-over-year revenue growth in Q1 2026, reaching €67.3 million, and 50% year-over-year EBITDA growth to €5.9 million, driven by increased messaging volumes and operational efficiency.

• Messaging volumes increased 39% year-over-year to 2.4 billion, with HALO platform revenue up 20% quarter-on-quarter.

• Launched a new data platform and formed a partnership with VOLT for AI-driven sovereign solutions in regulated European sectors.

Financial highlights

• Gross profit was €20.1 million, down 2% year-over-year but up 4% at constant currencies; gross margin declined to 29.8%.

• OPEX decreased 14% year-over-year to €14.2 million, reflecting improved cost discipline.

• Adjusted EBITDA margin improved to 9.3% from 6.3% year-over-year.

• Net result was a loss of €1.2 million, compared to a profit of €5.5 million in Q1 2025, which included a one-off €8.8 million gain.

• Free cash flow was positive at €4.1 million, supported by higher EBITDA and working capital management.

Outlook and guidance

• Q2 2026 revenue and EBITDA growth rates expected to be in line with Q1 2026.

• FY 2026 guidance targets at least 30% adjusted EBITDA growth year-over-year.

• Long-term ambitions for FY 2028 include gross profit growth of at least 15% year-over-year, gross margin around 35%, and EBITDA margin of 12-15%.