FamiCord (V3V) Q2 2026 earnings summary

Executive summary

• Revenue remained stable at EUR 43.2 million in H1 2026, a 0.9% year-over-year decline, despite subdued demand and macroeconomic headwinds.

• EBITDA for H1 2026 was EUR 4.3 million, down 13.8% year-over-year, but Q2 showed margin stabilization.

• Operating cash flow improved significantly to EUR 3.4 million, driven by working capital improvements and contract mix.

• The business model shifted further toward recurring subscription revenue, increasing resilience and predictability.

• Net result for H1 2026 was a loss of EUR -1.3 million, with EPS at EUR -0.08, reflecting higher costs and weaker financial results.

Financial highlights

• Sales revenue: EUR 43.2 million in H1 2026 (down 0.9% year-over-year).

• EBITDA: EUR 4.3 million (down 13.8% year-over-year); EBITDA margin 9.9% (down from 11.4%).

• Gross profit: EUR 25.0 million (down from EUR 27.0 million year-over-year).

• Net income: EUR -1.3 million (down from EUR -0.1 million in H1 2025); EPS EUR -0.08.

• Cash and cash equivalents: EUR 12.4 million as of June 30, 2026, up 4.8% since year-end 2025.

Outlook and guidance

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

• Weak economic environment anticipated to persist, with no signs of quick recovery.

• Management anticipates further agreements in CDMO and explores growth in adjacent areas.

• Cost control and liquidity management remain priorities.