Otello (OTEC) H1 2026 earnings summary

Executive summary

• Main business activity is financial asset management, with a 38.2% stake in Bemobi Mobile Tech S.A., the largest asset.

• Net income for 1H26 was $2,156 thousand, significantly lower than 1H25 due to absence of prior year one-time gains.

• Cash distributions of $1,302 thousand were received from Bemobi in 1H26.

• 3,024,502 shares were repurchased for $5,659 thousand; 5,418,244 treasury shares held at period end.

Financial highlights

• Revenue was $0 in 1H26 and 1H25; Adjusted EBITDA was $(1,474) thousand in 1H26 vs. $(1,286) thousand in 1H25.

• EBIT was $(1,892) thousand in 1H26, down from $1,249 thousand in 1H25, reflecting the absence of patent sale gains.

• Net income dropped to $2,156 thousand from $47,500 thousand in 1H25, which included significant one-time items.

• EPS was $0.03 in 1H26, compared to $0.59 in 1H25.

• Cash and cash equivalents at June 30, 2026, were $10,632 thousand, down from $14,694 thousand a year earlier.

Outlook and guidance

• Board remains positive on Bemobi’s prospects, especially after its pivot to payment solutions.

• Future strategy focuses on maximizing shareholder value through buybacks and dividends.

• All debt has been repaid; ongoing focus on returning cash to shareholders.