Loyal Solutions (LOYAL) H1 2026 earnings summary

Executive summary

• Secured major new clients including Myer in Australia, expanding to two of the top five loyalty programs in the country.

• Became the first platform to integrate with Qatar's Himyan payment scheme, enhancing global reach.

• Successfully launched card-linking technology with Denmark's largest loyalty program, Forbrugsforeningen.

• Revenue grew 56.5% year-over-year to DKK 28.53 million, exceeding budget by 9.8%.

• EBITDA turned positive at DKK 2.375 million, a significant improvement from last year's -DKK 3.9 million.

Financial highlights

• Revenue for the first half was DKK 28.53 million, a 56.5% increase year-over-year and 9.8% above budget.

• Operating expenses decreased by 12% year-over-year to DKK 11.85 million, 3% below budget.

• Net profit was DKK 428,000, slightly below the budgeted DKK 757,000.

• Cash balance at period end was DKK 6.55 million, up from DKK 2.9 million last year.

• Net cash flow for the period was positive at DKK 2.515 million, compared to -DKK 3.1 million last year.

Outlook and guidance

• Full-year revenue guidance remains at DKK 55.6 million, unchanged from the initial budget.

• ARR growth expected to catch up in the second half, despite delays in contracting.

• EBITDA guidance adjusted to DKK 5.3 million, slightly below the initial estimate due to higher direct costs.

• Market for payment-linked loyalty expected to grow 5-9% in the coming year.

• Sales cycles may lengthen due to geopolitical uncertainty.