Netcompany Group (NETC) Q2 2026 earnings summary

Executive summary

• Q2 2026 delivered robust revenue growth of 43.3% year-over-year, with organic growth of 17.3%, driven by strong demand for AI-powered products and platforms across all segments and both new and existing customers.

• The internal AI framework, Feniks, advanced significantly and became a key differentiator, enabling efficient delivery of complex solutions in regulated industries.

• Integration of SDC A/S into Netcompany Banking Services (NBS) is progressing as planned, strengthening the Financial Services Industry position and materializing synergies.

• Net profit surged 253.4% to DKK 196.9m in Q2 2026, supported by fair value adjustments and the Smarter Airports acquisition.

• Workforce expanded by 18.7% to 9,895 FTEs, with attrition rate declining to 16.3%.

Financial highlights

• Group revenue for Q2 2026 was DKK 2,457.6m, up 43.3% year-over-year, with organic revenue growth of 17.3%.

• Adjusted EBITDA before allocated HQ cost rose 45.7% to DKK 346.5m in Q2, with a margin of 15.5%; group adjusted EBITDA margin was 13.2%.

• Net profit increased 253.4% to DKK 196.9m in Q2 2026.

• Free cash flow improved to DKK 41.2m in Q2, up 61.1% year-over-year.

• Revenue visibility at end of Q2 2026 was DKK 8,535.6m, up 10.4% excluding NBS.

Outlook and guidance

• Revenue growth guidance for 2026 raised to 16%-20.5% for the Group (previously 15%-20%), with adjusted EBITDA margin guidance maintained at 16%-19%.

• For the group excluding NBS, revenue growth guidance is 6.5%-10.5%, with EBITDA margin guidance unchanged at 17%-20%.

• Long-term targets include organic revenue growth of 5%-10% annually and adjusted EBITDA margin above 20% by 2029.