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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Making Science Group
Making Science Group (MAKS) investor relations material
Making Science Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary3 Nov, 2026
Executive summary
Unaudited 9M26 results: revenue rose 7.9% YoY to €277.7m, gross margin increased 9.6% to €51.4m, and recurring EBITDA grew 12.7% to €9.4m.
Growth was supported by the US and operating efficiency; reporting excludes the Spanish Cloud and Cybersecurity businesses sold in Dec 2025.
Financial highlights
9M26 revenue was €277.746m vs €257.463m; gross margin was €51.395m vs €46.889m.
Recurring EBITDA reached €9.372m, up 12.7%; reported EBITDA was €7.932m, up 48.3%, as non-recurring charges fell to €1.439m from €2.967m.
Operating costs increased 9.6% to €42.881m; staff costs rose 5.0% to €35.842m, while CAPEX declined 3.6% to €4.123m.
US revenue was €56.5m in 9M26, up 14% YoY; operating costs also reflected new country operations and AI software licenses.
Outlook and guidance
Priorities for year-end and coming quarters: profitability, cash generation, debt reduction and cost optimization; these are management priorities, not quantitative closing guidance.
Digital Agency aims to sustain efficiency gains and increase contributions from developing markets; Raising AI plans continued product investment and commercialization in Europe, the US and LATAM.
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Latest events from Making Science Group
- H1 growth and agentic AI underpin H2 international expansion.MAKS
Global Markets Forum Conference - Revenue up 12.8% and Recurring EBITDA up 7.2%, driven by U.S. and AI segment growth.MAKSQ2 2026
- Record Q1 2025 growth driven by AI innovation and international expansion, targeting €370M revenue.MAKSInvestor Presentation
- Q1 2026 revenue up 20% year-over-year, led by Digital Agency and a €2M dividend paid.MAKSQ1 2026
- FY 2025 revenue rose 36% to €374M, with stable EBITDA and sharply reduced net debt.MAKSQ4 2025
- H1 2025 revenue up 39.9% to €174.6M; recurring EBITDA reached €7.7M; guidance reaffirmed.MAKSQ2 2025
- Recurring EBITDA nearly doubled in H1 2024, driven by strong growth and operational leverage.MAKSQ2 2024
- Recurring EBITDA up 94% to €10.6M in 9M 2024, with robust growth and 2024 guidance reaffirmed.MAKSQ3 2024
- 2024 saw 16% revenue growth and 71% EBITDA growth, with strong international momentum.MAKSQ4 2024
Next Making Science Group earnings date
Q4 202625 Mar, 2027
Making Science Group
Next Making Science Group earnings date
Q4 202625 Mar, 2027
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