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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.
q beyond
q beyond (QBY) investor relations material
q beyond Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary10 Aug, 2026
Executive summary
Accelerated AI transformation is underway, driving operational efficiency and positioning as a leading AI partner for European SMEs, with significant investments in automation, organizational realignment, and international expansion.
One-off transformation expenses of €5–6 million are expected in 2026, with €0.9 million already provisioned for the new Romanian location, which will provide AI-assisted 24/7 support and generate over €1 million in annual savings from 2027.
Consulting business grew 5% year-over-year, with new orders up 12% and gross margin rising to 26% due to improved utilization, AI consulting, and S/4 transitions.
Managed Services revenue declined due to weak SME demand, price adjustments, and higher customer churn, but AI-driven efficiency gains are emerging.
Share buybacks are planned to begin at the end of August, leveraging strong net liquidity.
Financial highlights
Q2 2026 revenues were €43.0 million, down from €44.4 million in Q2 2025, mainly due to managed services.
Adjusted EBITDA was €2.5 million (excluding €0.9 million transformation provision), with reported EBITDA at €1.6 million.
Net income for Q2 2026 was €-0.9 million, impacted by transformation costs.
Free cash flow was negative at €-1.6 million in Q2 2026.
Net liquidity stood at €41.0 million as of June 30, 2026, with an equity ratio of 70%.
Outlook and guidance
2026 revenue guidance lowered to €176–180 million (previously €182–190 million), with EBITDA expected between €3–7 million (previously €10–16 million).
One-off negative consolidated net income and free cash flow expected for 2026; positive figures anticipated from 2027, driven by AI transformation and efficiency gains.
Transformation measures in 2026 are expected to yield at least €7 million in annual personnel cost savings from 2027 onward.
Consulting gross margin expected to stabilize above 20% in future quarters.
Q4 2026 is expected to see a typical spike in revenues and earnings.
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Frequently asked questions
q.beyond AG is a Germany-based IT service provider specializing in cloud computing, SAP services, and IoT solutions for small and medium-sized enterprises (SMEs). The company offers tailored IT outsourcing, software development, and digital transformation services, focusing on enabling businesses to enhance operational efficiency and agility. Its portfolio includes managed cloud solutions, SAP consulting and operations, and secure IT infrastructures. The company is headquartered in Cologne, Germany, and its shares are listed on the XETRA.