Making Science Group (MAKS) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached €97.2M, up 20% year-over-year, with gross margin of €17.3M, up 9.5%, and recurring EBITDA up 8.5% to €3.3M; international expansion and AI adoption drove growth.

• The company operates four business lines: Digital Agency, Awake/AWAKE, Raising/RAISING, and Investments, with a new segment structure from 2026.

• Strategic focus on profitability, cash flow, debt reduction, and operational efficiency, leveraging AI to enhance productivity and reduce headcount to 850 post-divestment.

• Dividend of €2M paid in April 2026, charged to 2025 results.

Financial highlights

• Consolidated Q1 2026 revenue rose 20% year-over-year to €97.2M; gross margin up 9.5% to €17.3M; recurrent EBITDA up 8.5% to €3.3M.

• Operating costs increased 9.6% year-over-year, mainly due to geographic expansion, technology investment, and higher administrative expenses.

• Personnel expenses rose 3.6%, reflecting productivity gains from AI adoption.

• Dividend of €2M paid in April 2026, equivalent to €0.2222 gross per share.

Outlook and guidance

• 2026 expected to deliver profitable, sustained growth, leveraging 2025 investments and ongoing efficiency initiatives.

• AI products and internal efficiency initiatives to drive organic growth and operational optimization.

• Continued international expansion supported by strong financial capacity and cost optimization.