Webstep (WSTEP) investor relations material

Executive summary

• Revenue for Q2 2026 was 190.4 mNOK, down 11.4% year-over-year, mainly due to lower headcount and intensified competition, especially in the public sector.

• EBIT was 13.9 mNOK (margin 7.3%), and net profit was 10.1 mNOK, a 31.8% decrease from Q2 2025.

• AI remains a strategic priority, with admission to Anthropic's Claude Partner Programme and new advisory services moving into production for clients.

• Completed first phase with Nettalliansen, secured new framework agreements, and launched notable AI projects for clients.

• Continued selective recruitment and welcomed first summer students to support long-term talent development.

Financial highlights

• Revenue of 190.4 mNOK, down 11.4% year-over-year; revenue per FTE up 2.8% to 501.1 tNOK.

• EBIT of 13.9 mNOK, down 26.8% year-over-year, with a 7.3% EBIT margin (down from 8.9%).

• EBITDA at 18.2 mNOK (9.6% margin), net profit at 10.1 mNOK.

• EPS at 0.37 NOK, down from 0.55 NOK in Q2 2025.

• Cash and short-term deposits at quarter-end were 10.3 mNOK, down from 54.4 mNOK a year earlier.

Outlook and guidance

• Market demand expected to remain moderate with no significant short-term recovery, especially in the public sector.

• Continued commercial execution, broader customer base, and AI capabilities to support gradual financial improvement.

• Strategic focus on strengthening client relationships and investing in commercial and AI capabilities.