Digital Workforce Services (DWF) investor relations material

Executive summary

• Q3 revenue rose 44% YoY to EUR 7.9m; Continuous Services grew 59% and contributed 64% of revenue, while adjusted EBITDA was EUR 0.5m, or 7% of revenue.

• 9M revenue increased 39% to EUR 23.3m; adjusted EBITDA reached EUR 1.5m, or 7% of revenue, versus EUR 0.5m and 3% a year earlier.

Financial highlights

• Q3 gross profit was EUR 2.9m, up 19% YoY; gross margin was 37%, versus 45%.

• Q3 reported EBITDA was EUR 0.2m, down 18% YoY; EBIT was EUR -0.4m versus EUR 0.2m, and net income was EUR -0.7m versus EUR 0.2m.

• Q3 EPS was EUR -0.06 versus EUR 0.02; cash and other liquid assets totaled EUR 7.3m at period-end versus EUR 7.6m.

• 9M EBIT was EUR -0.7m versus EUR -0.8m; net income was EUR -1.3m versus EUR -0.9m, and EPS was EUR -0.11 versus EUR -0.08.

Outlook and guidance

• FY 2026 revenue is expected to grow 27–37% from 2025; adjusted EBITDA margin is expected at 7–13%.

• Strategy targets include a EUR 40m annualized revenue level exiting 2026, a higher Continuous Services share, and adjusted EBITDA above 15% by year-end 2026.

• The 2026 revenue outlook was raised on July 16 to 27–37% growth from the prior year.