Link Mobility Group (LINK) Q2 2026 earnings summary

Executive summary

• Achieved record adjusted EBITDA of NOK 272 million and operating cash flow of NOK 192 million in Q2 2026, with organic gross profit growth returning to positive at 2% for the quarter, marking a turnaround from previous quarters.

• Reported revenue grew 17% year-over-year to NOK 2,050 million, driven by M&A and organic enterprise growth, despite a 5% FX headwind.

• Strong commercial execution led to all-time high new contract wins of NOK 53 million in Q2 and LTM contract wins up 16% year-over-year, driven by both SMS and CPaaS solutions.

• Continued strategic focus on higher-margin CPaaS and AI-enabled solutions, with expanding customer base and rapid OTT channel scaling.

• Completed two bolt-on acquisitions (KPM Solutions in Italy and Web2SMS in Romania), reinforcing disciplined M&A strategy and market position.

Financial highlights

• Reported revenue: NOK 2,050 million (+17% YoY); organic revenue growth at 3% in stable currency.

• Gross profit: NOK 492 million (+16% YoY); organic gross profit up 2% in stable currency.

• Adjusted EBITDA reached NOK 272 million (+28% YoY); margin improved to 13.3%.

• Adjusted profit for the period was NOK 118 million, compared to NOK 63 million in Q2 2025.

• Cash and cash equivalents at quarter end were NOK 764 million, after significant outflows for share buybacks and acquisitions.

Outlook and guidance

• Management anticipates mid- to high single-digit organic gross profit growth in H2 2026, supported by record contract wins and strong CPaaS/OTT momentum.

• Net retention improved to 101%, approaching the 105% target.

• Adjusted EBITDA margin expected to be stable or slightly higher in H2 versus H1.

• Continued focus on bolt-on M&A, AI-driven product expansion, and disciplined capital allocation.

• SMSPortal and new contracts expected to drive low- to mid-single digit organic gross profit growth in H2.