Appear (APR) Q2 2026 TU earnings summary

Financial performance and guidance revision

• Q2 2026 revenue was NOK 189.6 million, down from NOK 271 million in Q2 last year; H1 2026 revenue was NOK 421.3 million versus NOK 433.3 million last year.

• Revenue shortfall attributed to weaker commercial execution outside the Americas and timing of contracts now expected in H2.

• Full-year 2026 revenue guidance reduced from approximately NOK 1 billion to NOK 880–920 million due to Q2 shortfall and pipeline reduction.

• About two-thirds of the Q2 revenue drop is due to contract slippage into H2, with the remainder from lost opportunities.

• No change to medium- and long-term growth targets of 25%-30% year-on-year.

Regional performance and commercial execution

• Americas region, especially the US, continues to perform well and in line with expectations.

• EMEA and APAC regions experienced most of the contract shortfall, with many deals delayed to Q3.

• Commercial execution issues in EMEA and APAC led to missed opportunities and reduced market share.

• Measures are being implemented to strengthen commercial execution and improve pipeline conversion in underperforming regions.

• No significant change in competitive landscape or technology position; issues are internal and execution-related.

Operational measures and cost management

• Actions include improving sales processes, regional capabilities, and pipeline management.

• Cost plans are being adjusted to align with the revised revenue outlook to maintain profitability.

• Operational and organizational changes are underway, but details remain internal.

• Improvement in commercial execution will take time, with some measures having immediate effect and others requiring longer.

• Positive developments noted in products, innovation, and commercial opportunities.