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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.
Otovo
Otovo (OTOVO) investor relations material
Otovo Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary12 Nov, 2026
Executive summary
Strategic shift from European Newbuild installations toward Field Services, Recurring Services and upgrades; services generated over two thirds of Q3 revenue, and the US became the largest contributor.
Q3 revenue was $9.7m and adjusted EBITDA was -$3.2m; adjusted EBITDA turned positive in September 2026.
Revenue was NOK 91.6m, down 39% YoY; gross profit rose 40% to NOK 56.8m and gross margin reached 62%.
2027 targets are ~$120m revenue and ~$36m adjusted EBITDA, at ~30% margin.
October service activity reached 4,049 work orders at $760 average revenue per order and estimated 52% gross margin.
Financial highlights
Q3 revenue was $9.7m, down 3% QoQ; Field Services revenue rose 70% to $5.6m, while Newbuild revenue fell 44% to $3.4m.
Gross profit was NOK 56.8m, up 40% YoY; gross margin increased to 62% from 27%, while materials costs fell 69% to NOK 35.5m.
Adjusted OPEX was $5.6m, down 26% QoQ and 45% YoY; adjusted EBITDA was -$3.2m, improving $1.2m QoQ and $2.9m YoY.
Adjusted EBITDA was NOK -30.5m versus NOK -57.6m; reported EBITDA was -$9.1m after $5.9m in add-backs, including $2.4m dual-listing costs.
Net loss was NOK 184.5m versus NOK 115.4m, including a NOK 50.0m EDEA impairment and NOK 27.5m non-cash net exchange loss; operating loss was NOK 105.2m.
Outlook and guidance
2027 Field Services targets are 14,200 monthly work orders at $700 per order and 50% gross margin, implying $119.28m revenue and $59.64m gross profit.
2027 adjusted EBITDA range is $33.84m–$38.64m, with ~$36m midpoint and ~30% margin; adjusted SG&A is targeted at $1.75m–$2.15m monthly.
Year-end 2026 technician capacity target is ~300; management estimated 325–375 technicians would support 14,200 monthly work orders.
Management expects operating cash flow to follow adjusted EBITDA through 2027 as technician volumes grow and one-time costs fall away.
September 2026 was adjusted-EBITDA positive; 2026 progress was expected from service and membership growth, lower costs to serve, Endurance integration and cost measures.
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Latest events from Otovo
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- Revenue fell 32% as the business shifted to high-margin recurring services and field operations.OTOVOQ1 2026
- Q3 2025 revenue fell 11% YoY, but gross margin rose and a strategic merger was announced.OTOVOQ3 2025
- Revenue, order intake and backlog grew sequentially as costs fell and service launches neared.OTOVOQ2 2025
Next Otovo earnings date
Q4 202611 Feb, 2027
Otovo
Next Otovo earnings date
Q4 202611 Feb, 2027
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Frequently asked questions
Otovo AS engages in the online selling of solutions and services related to distributed renewable energy to private customers in Norway, Sweden, and Italy. It offers solar panels; installation services; plugs for electrical appliances, such as lights for indoor and outdoor, home theater systems, convectors, water heaters, freezers, cookers and ovens, washing machines, dishwashers, furnaces and radiators, fans and ventilators to release stale air from bathrooms or rooms where food is being prepared; power banks; and power wall devices. The company sells its products through an online store. Otovo AS was founded in 2016 and is based in Oslo, Norway.