Gofore (GOFORE) Q2 2026 earnings summary

Executive summary

• Q2 2026 net sales increased by 32.4% year-over-year to €58.5 million, with organic growth of 1.8% and H1 2026 net sales up 30.9% to €118.6 million.

• Adjusted EBITA margin improved to 7.2% in Q2 and 7.3% for H1 2026, with adjusted EBITA more than tripling year-over-year.

• Strategic divestment of the Product Design & Technical Documentation business to CoE Group, expected to close in September 2026, aims to focus on core digital and software expertise.

• Integration of Huld and Esentri acquisitions nearly complete, contributing to growth, operational synergies, and expanded capabilities.

• Strong customer base expansion, with key public sector wins and an increase in large customers generating over €1 million in annual net sales to 53.

Financial highlights

• Q2 2026 net sales: €58.5 million, up 32.4% year-over-year; H1 2026 net sales: €118.6 million, up 30.9%.

• Adjusted EBITA margin: 7.2% in Q2, 7.3% for H1 2026; Q2 adjusted EBITA: €4.2 million, H1: €8.6 million.

• EPS increased to €0.11 in Q2; H1 2026 undiluted EPS: €0.15.

• Equity ratio at 50%, cash at €27–27.7 million, and net debt at €21.5 million.

• Dividend of €0.49 per share paid for 2025, totaling €7.96 million.

Outlook and guidance

• Continued net sales growth expected, supported by acquisitions, investments, and public sector wins.

• Divestment of Product Design & Technical Documentation business will impact net sales and profitability in the short term but is expected to support long-term profitability.

• Long-term targets: €500 million net sales and at least 15% adjusted EBITA margin by 2030, with minimum 40% dividend payout ratio.

• Market in Finland showing signs of recovery, with moderate growth expected in the DACH region despite ongoing uncertainty.