GFT Technologies (GFT) Q1 2026 earnings summary

Executive summary

• Achieved profitable growth in Q1 2026 with revenue of EUR 229.5 million, up 5% in constant currencies, and improved margins, confirming full-year guidance.

• AI-centric strategy and Wynxx AI platform expansion drove significant contract value growth, with the platform now scaled to 11 countries and 105 clients, influencing over EUR 104 million in contracts, up 48% from Q4.

• Major SAP contract secured in Brazil via Megawork acquisition, valued at up to EUR 80 million, demonstrating successful M&A integration.

• Key growth markets included Brazil (+33%), Colombia (+20%), and Spain (+9%), with industry sector up 15%.

• Recognized as 2026 Google Cloud Partner of the Year for Cloud Modernization and Infrastructure Modernization in Latin America.

Financial highlights

• Revenue up 3% year-over-year to EUR 229.5 million (5% in constant currencies).

• Adjusted EBIT increased 7% to EUR 16.1 million, margin improved to 7.0% from 6.8% year-over-year.

• EBT up 20% to EUR 12.0 million, margin rose to 5.2% from 4.5%.

• Net income increased 21% to EUR 8.6 million; EPS up 26% to EUR 0.34.

• Order backlog up 11% year-over-year (15% in constant FX), reaching EUR 512.14 million.

• Free cash flow adjusted improved to EUR 0.9 million from EUR -7.9 million.

Outlook and guidance

• Full-year 2026 guidance reaffirmed: revenue expected to grow 5% at constant currency to around EUR 930 million, with adjusted EBIT at EUR 71 million (7.6% margin) and EBT at EUR 56 million (6% margin).

• Utilization expected to remain high (~92%), with net debt targeted at 0.2x EBITDA.

• U.K. business and Mexico expected to recover in H2 2026 as SmartShore pipeline matures and local challenges normalize.

• Continued focus on AI-native engineering, asset/IP expansion, and modernization of key platforms.