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Teneo AI (TENEO) investor relations material
Teneo AI Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 priorities shifted from restructuring to revenue growth and positive cash flow, with the Q1 2027 break-even target unchanged.
Lost U.S. reseller and distribution partner sales drove a steep revenue decline; commercial focus is converting existing deployments and Teneo10 demand into revenue.
Debt-to-equity refinancing, the fully covered rights issue and restructuring completed a financial reset; interest-bearing debt was eliminated and costs were reduced.
Teneo10 preview launched, targeting enterprise and regulated buyers with controlled, auditable AI workflows.
Financial highlights
Q3 net sales were SEK 5.5m versus SEK 20.4m; 9M sales were SEK 23.3m versus SEK 67.8m.
Constant-currency SaaS ARR was SEK 12.6m versus SEK 66.3m; total ARR was SEK 21.4m versus SEK 82.2m. Q3 QoQ ARR rose 3% and 1%, respectively.
Adjusted EBITDA was -SEK 11.3m versus -SEK 4.5m; 9M adjusted EBITDA was -SEK 31.9m versus -SEK 9.9m.
Q3 net result was -SEK 88.9m versus -SEK 16.7m, including a SEK 55.2m R&D impairment.
Gross margin was 76% versus 87%; adjusted cash at September 30 was SEK 27.7m, including SEK 25.8m cash and bank plus SEK 1.9m collected receivables.
Outlook and guidance
Positive cash flow is the overriding target, aimed for by Q1 2027; leadership said SEK 3m more monthly revenue is needed to reach it.
Q4 priorities are converting existing projects to revenue, securing Teneo10 contracts and signing selected partners for smaller and mid-sized customers.
FGS Türkiye is expected to go live in November 2026 after a delay from September; Nordic telco AI Call Guardian is projected for December, while Medtronic remained on plan.
Monthly operating costs were SEK 5.0m from September; adjusted OPEX run rate was SEK 60.5m annualized.
Gross margin is expected to improve with higher volumes and Teneo10’s lower delivery costs.
- Revenue fell over 70%, debt was eliminated, and break-even is targeted for Q1 2027.TENEO
Q2 2026 - Revenue and ARR dropped sharply, but strong margins, pipeline, and strategic review support future growth.TENEO
Q1 2026 - Q4 2025 revenue and ARR fell after a partner breach, but gross margin rose to 85%.TENEO
Q4 2025 - SaaS growth, 87% margin, and Teneo 8 launch support $20M ARR target.TENEO
Q3 2025 - SaaS revenues up 81%, gross margin at 88%, and NRR at 129% with strong pipeline growth.TENEO
Q2 2025 - Record SaaS API call growth and margin expansion drive enterprise automation strategy.TENEO
Q3 2024 - Record SaaS growth, 134% NRR, and 79% gross margin drive global expansion.TENEO
Q2 2024 - 185% SaaS API revenue growth, 86% gross margin, and a strong U.S. pipeline drive expansion.TENEO
Q1 2025 - Record SaaS/API growth, 135% NRR, and 87% margin fuel expansion and US market momentum.TENEO
Q4 2024
Next Teneo AI earnings date
Next Teneo AI earnings date
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