Qoria (QOR) Q1 2026 earnings summary

Executive summary

• Cash collections reached $46.3 million, up 23% year-over-year, with strong growth in both K-12 and consumer segments.

• Free cash flow was $11.7 million, up 48% year-over-year, reflecting strong customer receipts and effective cost management.

• Upgraded revenue guidance to at least $145 million for FY2026, with a 20% adjusted EBITDA margin and strong confidence in continued growth.

• Qustodio delivered 33% annualized ARR growth and is a key driver of ARR expansion.

• Cash and cash equivalents increased to $24.0 million at quarter end.

Financial highlights

• Group ARR grew 25% year-over-year, reaching $149 million, with Qustodio contributing 33% annualized growth.

• Net cash at quarter-end was $24 million, with net debt under $30 million.

• K12 weighted pipeline at $10.4 million, up 24% year-over-year.

• Fixed costs as a percentage of ARR are trending down, supporting operating leverage.

• Free cash flow generation was strong, with Q1 being the main positive quarter; Q3 and Q4 are expected to be negative.

Outlook and guidance

• Revenue guidance upgraded to at least $145 million, with strong visibility and confidence in achieving targets and a 20% adjusted EBITDA margin.

• Free cash flow expected to remain positive for the full year; collections in H1 to grow 20% year-over-year.

• Net debt expected to remain stable in FY26 and reduce materially in FY27 and beyond.

• Guidance subject to forex movements and material changes in business environment.

• Qustodio is budgeted for 30% ARR growth, with potential to exceed if performance and cash flow allow.