Banqup Group (BANQ) Q1 2026 earnings summary

Executive summary

• Achieved 5.0% year-over-year group revenue growth in Q1 2026, reaching €13.1m, driven by digital revenue momentum.

• Completed divestment of Baltic activities, focusing on pure-play SaaS operations.

• Launched a Value Creation Plan targeting 15% cost savings by full year 2027.

Financial highlights

• Digital services revenue rose 14.4% year-over-year to €11.8m in Q1 2026.

• Subscription revenue surged 40.3% year-over-year, mainly from e-invoicing growth in Belgium.

• Transaction revenue declined 2.9% year-over-year as clients shift to subscription models.

• Liquidity at €8.6m as of March 31, 2026, including proceeds from divestment.

• Adjusted EBITDA improved 18.7% year-over-year, reflecting operating leverage and cost control.

Outlook and guidance

• Reiterated FY 2026 guidance: ARR Digital Revenue Growth of 25–30% and adjusted EBITDA margin of ~3% by year-end.

• Growth expected to be more weighted towards the second half of the year due to regulatory adoption timing.