Equasens Société anonyme (EQS) Q3 2026 TU earnings summary

Executive summary

• 9M 2026 revenue reached €181.8m, up 5.6% reported and 0.9% like-for-like; PHARMAGEST and AXIGATE LINK grew, while E-CONNECT and MEDICAL SOLUTIONS faced organic declines.

• Management cited strong Italian momentum, ongoing AI and SaaS development, and planned Ségur Wave 2 deployment ramp-up in Q4 2026.

Financial highlights

• 9M revenue increased €9.6m YoY; external growth contributed €7.4m and Ségur Wave 2 €0.8m, which was excluded from like-for-like growth.

• Q3 revenue was €57.3m, up 2.0% reported; like-for-like revenue declined 0.2%.

• 9M systems and equipment revenue fell 2.3% to €67.7m; maintenance and subscriptions rose 7.9% to €84.1m; software and services grew 20.2% to €30.0m.

• Q3 maintenance and subscriptions grew 7.0%, entirely organically; systems and equipment declined 6.5%, while software and services rose 9.4%.

Outlook and guidance

• Ségur Wave 2 deployments for AXIGATE LINK and MEDICAL SOLUTIONS are scheduled to begin in Q4 2026, subject to programme-specific regulatory timetables.

• Ségur Wave 2 certifications remain a priority through year-end 2026 and FY 2027; deployments are expected to accelerate toward year-end.

• AI development, including agentic AI, aims to automate complex processes and improve healthcare professionals’ productivity; expanded SaaS features are intended to strengthen ARR and support European growth.

• FY 2026 revenue release scheduled for 4 February 2027.