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Terago (TGO) investor relations material
Terago Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved year-over-year growth in adjusted EBITDA and ARPA, with improved booking activity and sequential growth in Backlog MRR from Q1 2026.
Focused on elevating customer quality, increasing operating efficiency, and targeting large mid-market and enterprise customers.
Optimized customer base by discontinuing lower margin and unprofitable accounts, supporting long-term objectives.
Regulatory clarity from ISED on mmWave spectrum licensing and auction enhances the strategic value of spectrum holdings.
Positioned to capitalize on flexible-use licensing and future 5G and connectivity opportunities.
Financial highlights
ARPA increased 4.2% to $1,279 in Q2 2026 from Q2 2025, reflecting a focus on mid-market and large-scale customers.
Churn rate was 1.0% in Q2 2026, up from 0.9% year-over-year.
Backlog MRR at June 30, 2026, was $78,788, down from $93,279 a year ago, but up sequentially from March 31, 2026.
Total revenue for Q2 2026 was $6,210,000, down from $6,344,000 in Q2 2025, mainly due to lower bookings in 2025 and installation delays.
Adjusted EBITDA for Q2 2026 increased by 16.8% to $1,055,000, compared to $903,000 last year, driven by lower operating expenses.
Net loss for Q2 2026 was $3,823,000, improving from $4,256,000 in Q2 2025.
Ended Q2 2026 with $6,588,000 in cash and cash equivalents.
Gross profit margin declined slightly to 72.9% in Q2 2026 from 73.8% in Q2 2025.
Salaries and related costs decreased by 7.1% in Q2 2026 year-over-year; other operating expenses down 9.8%.
Cash from operations in Q2 2026 was $103,000, down from $319,000 in Q2 2025.
Outlook and guidance
Priorities for the remainder of 2026 include driving profitable growth, improving customer quality, increasing operational efficiency, and capitalizing on millimeter-wave spectrum opportunities.
Management remains focused on sustainable profitable growth and leveraging regulatory developments to drive long-term shareholder value.
Expects to benefit from the transition to flexible-use spectrum licensing and upcoming 2027 mmWave auction.
- Adjusted EBITDA rose, but liquidity and growth remain financing- and 5G-dependent.TGO
Q3 2026 - Revenue and EBITDA declined, but net loss narrowed and customer metrics improved.TGO
Q1 2026 - Revenue and profitability declined, but ARPA and churn improved amid sector headwinds.TGO
Q4 2025 - Revenue down, margins up, and $46M recapitalization boosts growth flexibility.TGO
Q3 2025 - Revenue fell 3.5% as unprofitable customers churned; ARPA and cost control improved metrics.TGO
Q2 2025 - Q3 2024 delivered higher revenue, improved ARPA, and a major contract win, despite a higher net loss.TGO
Q3 2024 - Adjusted EBITDA surged 88% and net loss narrowed on higher revenue and regulatory clarity.TGO
Q2 2024 - Adjusted EBITDA rose 10.9% as ARPA and backlog MRR grew, despite higher churn.TGO
Q1 2025 - Adjusted EBITDA up 16.9%, cash from operations surged, and backlog MRR hit a record high.TGO
Q4 2024
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