Bittium (BITTI) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 97.8% YoY to €45.8M; operating result reached €16.5M, or 36.0% of sales, led by Defence & Security deliveries and licensing.

• 9M net sales increased 58.7% YoY to €103.7M and operating result was €26.1M; order backlog reached €71.7M, nearly 90% from Defence & Security.

Financial highlights

• Q3 product sales were €37.8M, 82.4% of total; services sales were €8.1M, 17.6%.

• 9M product sales were €79.8M, 76.9% of total; services sales were €23.9M, 23.1%.

• 9M net income was €20.5M vs. €3.8M; EPS was €0.576 vs. €0.108.

• 9M operating cash flow was €63.8M vs. €10.8M, primarily reflecting collections of trade receivables; net cash increased €44.4M.

Outlook and guidance

• FY26 guidance updated: net sales €140–155M and operating result €29–36M, from prior operating-result guidance of €26–32M; revision reflects stronger-than-expected Defence & Security profitability.

• Sales and operating result are expected to be weighted to H2; individual order and delivery timing may significantly affect quarterly results.

• Q4 focus is deliveries, profitability and customer relationships; the new operating structure takes effect in January 2027.