Cy4gate (CY4) Q2 2026 earnings summary

Executive summary

• Achieved significant year-over-year growth in H1 2026, returning to operating profitability and improving cash generation, driven by strategic initiatives, restructuring, and robust market demand, especially from foreign contracts.

• Revenue growth was supported by expanded offerings in Cyber Intelligence, Cyber Security, and Decision Intelligence, with all business segments contributing and a strengthened international presence.

• Order intake reached €72.8 million (+16% YoY), with a backlog of €120 million, providing strong visibility for future performance.

• Upward revision of FY 2026 revenue guidance to €115–120 million from €104–108 million, reflecting improved expectations and robust order intake.

• Strengthened market position in governmental, institutional, and corporate segments, with increasing international presence and recognition as a "representative vendor" in Gartner’s digital sovereignty report.

Financial highlights

• Revenues/value of production reached €65.7 million in H1 2026 (+62% YoY from €40.6 million), mainly due to foreign government contracts and RCS Group orders.

• EBITDA increased to €11.7 million (17.8% margin), more than tripling YoY, driven by higher volumes, profitable contracts, and cost reduction.

• EBIT improved to €2.1 million from a loss of €7.3 million in H1 2025.

• Net result at €-1.1 million, a substantial improvement from €-8.7 million YoY, despite a €1.8 million tax impact.

• Net Financial Position improved to €-6.9 million from €-13.8 million at year-end 2025, mainly due to reduced financial liabilities and advance payments on foreign contracts.

Outlook and guidance

• FY 2026 revenue/value of production guidance raised to €115–120 million, up from €104–108 million, supported by strong backlog and improved visibility.

• Positive H2 outlook supported by strong H1 performance, favorable market conditions, and robust order backlog.

• Continued focus on technological excellence, product portfolio expansion, and market penetration, with strategic priorities on international growth and technological leadership.