StrongPoint (STRO) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue was 342 MNOK, flat to down 1.2% year-over-year, with recurring revenue at 384 MNOK, up 3% year-over-year.

• EBITDA for Q1 2026 was 10 MNOK (2.9% margin), unchanged from Q1 2025.

• Cash flow from operations was -9 MNOK, down from 8 MNOK in Q1 2025, mainly due to working capital changes.

• Major customer wins included Iceland Foods (UK), NorgesGruppen (Norway), and multiple AutoStore projects in the UK.

• International operations grew 17%, led by 93% growth in the UK, offsetting declines in the Nordics and Baltics.

Financial highlights

• Operating revenue: 342 MNOK, down 1.2% year-over-year.

• Recurring revenue reached 384 MNOK, up 3% year-over-year.

• EBITDA remained at 10 MNOK, with profitability gains in the UK offset by declines in the Baltics and Nordics.

• Net interest-bearing debt increased to 91 MNOK from 61 MNOK at Q4 2025.

• Equity ratio stable at 46%, above the 30% covenant.

Outlook and guidance

• Management expects continued improvement in EBITDA and recurring revenue, with long-term ambitions of healthy revenue growth and EBITDA margin above 10%.

• Fluctuations between quarters are expected due to project-based revenue.

• Focus on international SaaS e-commerce growth, revitalizing Nordic and Baltic markets, and expanding the solution portfolio for grocery retailers.