Gofore (GOFORE) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 19.7% YoY to €49.3m; organic growth was 1.5%. Adjusted EBITA increased to €4.4m, or 8.9% of sales, with profitability improving from H1.

• 9M sales rose 27.4% to €167.9m, including 1.6% organic growth; adjusted EBITA reached €13.0m, or 7.7% of sales.

Financial highlights

• Q3 EBIT was €4.8m vs €1.8m YoY; net profit was €4.0m vs €1.8m, and diluted EPS was €0.24 vs €0.10.

• 9M EBIT was €9.2m vs €3.5m; net profit was €6.6m vs €3.0m, and diluted EPS was €0.38 vs €0.16.

• Q3 customer prices rose 1.7% YoY; average salary declined 2.2%. Personnel expenses were 65.1% of sales vs 62.3%; other operating expenses were 11.4% vs 13.9%.

• Q3 public-sector sales were €26.1m and private-sector sales €23.2m; private-sector sales grew 34.0% YoY. 9M public/private sales were €89.4m/€78.5m.

Outlook and guidance

• No financial-year net sales or profitability guidance; long-term targets are €500m net sales by 2030, 15% adjusted EBITA margin and dividends of at least 40% of annual net profit.

• Q4 is expected to be the strongest quarter of 2026; profitability is expected to rise significantly from H1, supported by integration synergies and gradual Finnish private-sector demand recovery.

• Q4 has one more working day YoY; divestment is expected to weigh on near-term sales and profitability, but support profitability longer term.