NIQ Global Intelligence (NIQ) Q2 2026 earnings summary

Executive summary

• Achieved fifth consecutive quarter exceeding guidance, with Q2 2026 reported revenue up 8.0% to $1,124.2M, organic constant currency (OCC) revenue up 5.8%, and adjusted EBITDA up 21.9% to $261.9M, with margin expanding to 23.3%.

• Adjusted EPS reached $0.27, surpassing guidance, and levered free cash flow turned positive at $74.1M, up $137.3M year-over-year.

• Net loss attributable to shareholders was $30.5M, reflecting higher tax and restructuring charges, while adjusted net income improved to $78.7M.

• Raised full-year 2026 guidance across all metrics, citing robust demand, strong retention (105% NDR, 99% GDR), and AI-driven innovation.

• Continued investment in AI, new product launches, and strategic M&A (YiMian acquisition), with client engagement and data consumption up significantly.

Financial highlights

• Q2 2026 revenue grew 8.0% to $1,124.2M; OCC revenue up 5.8% year-over-year.

• Adjusted EBITDA margin expanded to 23.3% from 20.6% year-over-year; adjusted net income was $78.7M.

• Adjusted EPS was $0.27, levered free cash flow improved to $74.1M, and net cash from operating activities was $140.1M.

• Cash and equivalents at $416.6M, total liquidity $1.2B, and net debt at $3.1B.

• Intelligence subscription revenue annualized at $3,018M, with 105% NDR and 99% GDR.

Outlook and guidance

• Raised full-year 2026 guidance: reported revenue growth of 7.1%-7.4%, OCC growth of 5.2%-5.6%, adjusted EBITDA margin of 23.5%-23.9%, and adjusted EPS of $1.08-$1.12.

• Levered free cash flow guidance increased to $245M-$255M; net leverage expected below 3x by year-end.

• Q3 2026 guidance: revenue $1,105M-$1,108M, adjusted EBITDA $255M-$261M, adjusted EPS $0.22-$0.24.

• 2026 restructuring program targets $70M-$80M in annualized cost savings.