FamiCord (V3V) Q1 2026 earnings summary

Executive summary

• Revenue declined 2.7% year-over-year to EUR 21.5 million in Q1 2026, reflecting challenging market conditions and subdued consumer sentiment across Europe.

• Subscription-based contracts and recurring revenues increased, partially offsetting weaker new customer demand and lower prepaid contract contributions.

• EBITDA remained positive at EUR 2.2 million, but was down 28.9% from the prior year’s strong quarter; EBIT was EUR 0.2 million.

• Net loss for the period improved to EUR -0.2 million, with earnings per share at EUR -0.01, compared to EUR -0.04 in Q1 2025.

• Cash and cash equivalents rose to EUR 13.8 million, supported by positive operating and financing cash flows.

Financial highlights

• Gross profit decreased to EUR 12.8 million from EUR 13.5 million year-over-year.

• EBITDA margin fell to 10.4% from 14.2% in Q1 2025.

• Operating cash flow increased 46.5% year-over-year to EUR 1.9 million.

• Equity ratio declined to 2.9% from 3.3% at year-end 2025.

• Market capitalization at quarter-end was EUR 83.3 million, with share price down from EUR 6.05 to EUR 4.72.

Outlook and guidance

• Full-year 2026 guidance confirmed: revenue expected between EUR 80–90 million and EBITDA between EUR 9–11 million.

• Management anticipates continued market headwinds, with consumer caution and low birth rates persisting.

• CDMO activities expected to show solid growth in 2026.

• Single-digit percentage growth in new storages projected, but risk of underperformance due to Q1 trends.