q beyond (QBY) Q1 2026 earnings summary

Executive summary

• Strategy 2028 emphasizes industry expertise, AI orchestration, and internationalization, targeting healthcare, energy, logistics, and retail, with expansion in the DACH region, Baltics, Spain, and a new nearshore center in Romania.

• Q1 2026 saw major contract renewals and extensions exceeding €100M, a robust sales funnel over €200M, and progress toward a healthcare joint venture.

• AI initiatives advanced with 10+ new customers, 38 internal agents launched, and a plan to launch 30 AI agents per month, driving efficiency and new business.

• Operating business and earnings developed as expected, with a high share of recurring revenues and focus on profitable services.

• Internationalization included opening a third nearshore hub in Cluj, Romania, expanding SAP and service desk operations and aiming to double nearshoring/offshoring quota to 40% by 2028.

Financial highlights

• Q1 2026 revenue was €42.8M, down from €43.7M or €46.4M year-over-year, reflecting discontinued less profitable business and macroeconomic headwinds.

• EBITDA for Q1 2026 was €1.5M, down from €2.3M in Q1 2025; net income was -€1.1M versus -€0.3M last year.

• Gross profit for Q1 2026 was €7.6M (Q1 2025: €8.9M); gross margin at 18% (Q1 2025: 19%).

• Net liquidity increased to €42.6M as of March 31, 2026, up from €42.0M at year-end 2025; company remains debt-free.

• Order entry rose by more than 7% year-over-year to €31.3M, with a sales funnel exceeding €200M.

Outlook and guidance

• 2026 guidance confirmed: revenue €182M–€190M, EBITDA €10M–€16M, positive free cash flow and net income.

• Higher revenues and earnings anticipated in H2 2026, supported by a strong sales funnel and new orders.

• 2028 targets: €250M revenue, 10% EBITDA margin, with growth from organic expansion, M&A (~€20M), and AI orchestration (~€20M).

• Book-to-bill ratio expected to remain above 1 for 2026 and 2027, indicating sustained growth.

• Outlook assumes gradual economic recovery in Germany in the second half of 2026.