Atrys Health (ATRY) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached €37.5m, up 6.3% YoY, and EBITDA was €4.1m, up 15.4%; Portugal and Latin America were key growth markets.

• The Prevention division was sold for €145m in January, sharply reducing net debt and enabling financial optimisation.

• A geographic operating model was introduced to strengthen management discipline, efficiency and profitability.

Financial highlights

• Revenue was €37.5m (+6.3% YoY), EBITDA €4.1m (+15.4%) and operating cash flow €3.3m (+55.5%).

• Gross margin increased 4.8% to €15.6m; gross margin on revenue was 41.6%, versus 42.2% a year earlier.

• CAPEX declined 44.7% to €0.8m from €1.4m, mainly due to lower R&D spend.

Outlook and guidance

• FY 2026 guidance maintained: revenue growth of 11%, reported EBITDA growth of 40% and operating cash flow of €13.5m, up 125% YoY.

• A 2026–2028 strategic plan is due to be presented in the coming months.