MotorK (MTRK) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 was €18.5m, down 9% year-over-year, reflecting a strategic exit from low-margin contracts, planned legacy churn, and extended OEM/dealer decision cycles.

• Adjusted EBITDA more than doubled to €2.1m, with margin expanding to 11.5%, driven by disciplined cost management and a strategic focus on higher-margin contracts.

• Cash EBITDA improved by 69% year-over-year to negative €0.8m, approaching break-even in the last months of the period.

• The company advanced its AI-native platform, migrating customers to the Spark suite and scaling its AI-powered Customer Data Platform.

• SaaS platform revenues accounted for 79% of total revenue, with recurring revenues at 76% of the mix.

Financial highlights

• Committed Annual Recurring Revenue (CARR) was €33.1m, down 7.5% year-over-year due to planned contract expiries and strategic exits from low-margin contracts.

• Annual Recurring Revenue (ARR) was €30.2m, down 6.5% year-over-year.

• Adjusted EBITDA: €2.1m (H1 2025: €1m), margin at 11.5%.

• Cash EBITDA: -€0.8m (H1 2025: -€2.6m), a 69% improvement.

• Net borrowing position: €14.1m (Dec 2025: €14.4m).

• Net equity: €21.2m (Dec 2025: €23.6m).

• Operating free cash flow: €2.8m (H1 2025: €1.7m).

Outlook and guidance

• Management expects close-to-flat CARR year-over-year growth for FY 2026 and a full-year break-even Cash EBITDA position.

• Further cost efficiencies anticipated from platform consolidation, headcount discipline, and AI-enabled productivity.

• The company is evaluating additional financing options to support growth ambitions and financial flexibility.