Link Mobility Group (LINK) Q3 2026 earnings summary

Executive summary

• Organic gross profit growth accelerated 5pp QoQ to 7%, at the high end of expectations; organic adjusted EBITDA also grew 7%. H2’26 growth guidance was raised to high single digits.

• Reported revenue rose 19% to NOK 2,011m, gross profit rose 21% to NOK 484m and adjusted EBITDA rose 37% to NOK 268m, with acquisitions contributing materially.

• Commercial momentum strengthened, with 103% net retention, lower enterprise churn QoQ and NOK 41m of gross profit from new contract wins.

Financial highlights

• Revenue was NOK 2,011m; organic revenue grew 6% in fixed currency to NOK 1,795m, while acquisitions added NOK 327m and FX reduced revenue by NOK 111m.

• Gross profit was NOK 484m, up 21%; organic fixed-currency growth was 7%, with NOK 81m from acquisitions and a NOK 25m negative FX effect.

• Adjusted EBITDA was NOK 268m, up 37%; organic fixed-currency growth was 7%, with NOK 70m from acquisitions and a NOK 11m negative FX effect.

• Operating profit was NOK 118m; profit for the period was NOK 75.7m versus NOK 17.1m, and basic EPS was NOK 0.27 versus NOK 0.06.

• Full pro forma revenue, gross profit and adjusted EBITDA each grew 5% in constant currency.

Outlook and guidance

• H2’26 organic gross profit growth guidance was raised to high single digits; high-single-digit growth is expected in 2027, in line with the medium-term ambition.

• SMSPortal gross profit growth is expected to reach low single digits in Q4, supported by domestic growth and a 550m-message annualized run rate from new contracts.

• Under normal conditions, adjusted EBITDA growth is expected to exceed gross profit growth as operating leverage strengthens.

• Q3 working-capital effects are expected to normalize in Q4; 2026 CapEx is expected to decline slightly after optimization.