Cy4gate (CY4) Q1 2026 earnings summary

Executive summary

• Achieved significant year-over-year growth in Q1 2026, with value of production reaching €38.8 million, up 139%, driven by all business segments, strategic initiatives, and strong foreign government contracts.

• Revenues and profitability more than doubled, supported by business reorganization, expanded product portfolio, and major foreign contracts.

• Operating revenue rose 141% to €38.1 million, with 70% generated abroad.

• Order intake and backlog increased, supporting reduced seasonality and more predictable recurring business.

• Operational execution and foreign contracts in Forensic and Decision Intelligence segments were key contributors.

Financial highlights

• Value of Production and revenues rose to €38.8 million, up 139% from Q1 2025 (€16.3 million), mainly due to foreign government contracts.

• EBITDA reached €6.9 million (up nearly sixfold YoY), with EBITDA margin improving to 17.8% from 7.5%.

• EBIT turned positive at €1.2 million (from €-4.5 million in Q1 2025), and net loss narrowed to €1.1 million from €5.3 million.

• Total costs increased 112% to €31.9 million, reflecting higher business volumes.

• Net financial position improved to negative €3.7 million from negative €13.8 million at year-end 2025.

Outlook and guidance

• 2026 guidance confirmed: Value of production expected between €104 million and €108 million.

• Sustained growth targeted through operational efficiencies, synergies from acquisitions, and technological enhancements.

• Strategic partnerships and selective M&A under evaluation to strengthen capabilities and expand market access.

• Strategic focus on defense, security & law enforcement, and corporate markets, with targeted initiatives for each.

• Growth strategy leverages a broad product portfolio in cybersecurity and intelligence.