Linedata Services (LIN) Q3 2025 TU earnings summary

Executive summary

• Nine-month 2025 revenue was €122.0m, a decrease of 9.4% compared to the same period in 2024.

• Organic revenue declined by 8.6% after adjusting for acquisitions and exchange rates.

• Recurring revenue reached €96.8m, representing 79% of total revenue.

• Revenue decline accelerated in Q3 2025, impacted by a cyberattack in August.

Financial highlights

• Asset Management segment revenue fell 13.2% to €78.9m; Lending & Leasing was nearly stable at €43.1m, down 1.4%.

• Software division revenue dropped 18.8% to €55.5m; Services division grew 3.6% to €23.4m.

• Order intake for the first nine months was €35.0m, down 38.5% year-over-year.

Outlook and guidance

• Full-year 2025 revenue is expected to decrease by 5% to 10% due to market conditions and cyberattack impact.

• Operational efficiency measures have been implemented to offset profitability decline, with full effects expected in 2026.