Basler (BSL) Q3 2026 earnings summary

Executive summary

• 9M revenue rose 35% to €227.4m; Q3 revenue was €75.0m, matching Q2.

• 9M orders increased 62% to €278.6m; Q3 order entry set a quarterly record, supporting a €100.5m backlog at Sept. 30.

• 9M EBIT reached €51.1m with a 22.5% margin; free cash flow was €31.0m.

• Strong demand and operational efficiency drove results, while supply constraints limited conversion of orders into near-term revenue.

Financial highlights

• 9M EBITDA was €61.6m, EBIT €51.1m and net income €38.2m, each more than doubling versus restated 2025 figures.

• EPS rose to €1.24 from €0.36; free cash flow increased to €31.0m from €11.7m.

• Q3 bookings rose 62% and billings 35%; the positive book-to-bill ratio and record order entry supported momentum into Q4.

• Period-end cash was €43.8m, versus €24.8m a year earlier.

Outlook and guidance

• FY26 revenue guidance increased to €295m–€300m from €270m–€290m; EBIT-margin guidance rose to 17.5%–19.5% from 12.5%–14.5%.

• Guidance reflects high demand and backlog, supply constraints, positive non-recurring effects, higher variable compensation and employee special payments.

• Midterm plan targets ~15% CAGR, >13% EBIT margin, €275m revenue in 2028 and a 70% cash-conversion rate, excluding M&A.

• Supply constraints are expected through Q4 and potentially Q1 2027; Sony sensor delivery limits affect October and November, with lost production volumes unrecoverable.