Planisware (PLNW) H1 2026 earnings summary

Executive summary

• H1 2026 revenue reached €106.1 million, up 14.8% in constant currency, driven by SaaS operations, new contracts, and strong demand from both new and existing clients.

• Q2 2026 revenue growth accelerated to 16.0% in constant currency, following 13.6% in Q1.

• Adjusted EBITDA rose 11.4% to €38.2 million (36% margin, +20bps), and adjusted free cash flow increased 25.3% to €41.2 million, with a cash conversion rate of 107.8%.

• Profit for the period rose 32% to €28.6 million; operating profit grew 30.4% to €30.7 million.

• Over 40 notable commercial wins across geographies and industries, including major clients in energy, finance, and public sectors.

Financial highlights

• Recurring revenue (SaaS and maintenance) made up 91% of total revenue; SaaS alone was 82%, with SaaS & Hosting revenue up 20.7% in constant currency.

• Non-recurring revenue grew 41.9%, mainly from a 69.1% increase in implementation revenue.

• Gross margin remained stable at 73.1% year-over-year.

• R&D expenses were €12.8 million (12% of revenue), sales and marketing €19.5 million (18.4%), and G&A €14.6 million (13.8%).

• Net cash position at end of June was €204.5 million, up 12.3% from December 2025, after €24.9 million in dividends and €10 million in share buybacks.

Outlook and guidance

• 2026 revenue growth guidance raised to at least 13% in constant currency, up from previous low double-digit target.

• Adjusted EBITDA margin guidance increased to at least 37.4% (FY 2025 level).

• Cash conversion rate guidance remains at approximately 80% for the full year.