Konsolidator (KONSOL) Q2 2026 earnings summary

Executive summary

• Revenue grew 17% year-over-year to DKK 14.3m in H1 2026, with EBITDA improving to DKK (0.6m) from DKK (2.5m) in H1 2025.

• Free cash flow turned positive at DKK 2.1m, compared to negative DKK 2.0m in H1 2025.

• Contracted ARR increased 15% year-over-year to DKK 25.9m, with upsell reaching DKK 0.8m in ARR, the highest to date.

• Partner-led sales accounted for 42% of new customers, and average customer size rose to TDKK 89.

• Launched new AI-powered analytics and expanded product suite, driving broader customer adoption.

Financial highlights

• Revenue for H1 2026 reached DKK 14.3m, a 17% increase year-over-year; subscription fees rose 14%, and onboarding/consultancy increased 29%.

• EBITDA improved by 75% to DKK (0.6m) from H1 2025.

• Free cash flow (LTM) improved to DKK 2.1m from DKK (2.0m) in H1 2025.

• Contribution margin increased to 95% from 92% year-over-year.

• Earnings per share remained at DKK (0.21) year-over-year.

Outlook and guidance

• Contracted ARR for 2026 is guided at DKK 27-29m, representing 11%-19% growth over 2025.

• Revenue guidance for 2026 is DKK 27-29m, a 7%-15% increase over 2025.

• EBITDA is expected to reach DKK 1-2m, up from DKK -2m in 2025.

• Focus on reducing churn to 6-9% by year-end and increasing partner-led sales and product adoption.