Bilendi (ALBLD) Q3 2026 TU earnings summary

Executive summary

• Q3 2026 revenue returned to slight growth at €21.1m, up 0.6% reported and down 0.3% at constant exchange rates (CER).

• International growth offset a steep French decline driven by a non-recurring Q3 2025 contract; excluding that contract, Q3 2026 French revenue would have shown modest growth and total growth would have exceeded 5%.

Financial highlights

• 9M 2026 revenue was €64.3m, down 0.4% reported and 0.5% at CER YoY.

• International revenue increased 2.9% for 9M (2.8% at CER), while France declined 16.5%.

Outlook and guidance

• Modest organic growth is anticipated in H2 2026, supported by Q3 performance and expected momentum through year-end.

• 2030 targets confirmed: revenue of €175m–€200m, adjusted EBITDA margin above 25%, and sustained strong operating cash flow generation.