Largo (ALLGO) Q3 2026 TU earnings summary

Executive summary

• H1 2026 revenue was stable at €14.5M and EBITDA remained near the prior-year level at -€1.5M, despite a sharp Q2 slowdown.

• Q3 revenue reached a record €10.6M, up 13.5% YoY; FY 2026 revenue is expected to exceed €35M.

Financial highlights

• H1 revenue was €14.527M vs €14.459M in H1 2025; nine-month revenue reached €25.169M, up 5.6% YoY.

• H1 EBITDA was -€1.505M vs -€1.522M; operating loss was -€1.855M vs -€1.757M.

• H1 net loss was -€2.233M vs -€1.822M; pretax loss improved to -€2.2M from -€2.4M, while the prior-year deferred-tax benefit did not recur.

• Cash was €0.6M at June 30, 2026, reflecting concentrated purchases late in the half; collections lifted it to €1.6M on July 3.

Outlook and guidance

• FY 2026 revenue is expected to exceed €35M, representing at least 7.5% growth vs 2025.

• Significant improvement in profitability indicators is expected in H2 2026, supported by stronger activity and a leaner cost base.

• In 2027, commercial growth is expected to continue, alongside cost-base optimization and further development of industrial operations.