Quick Heal Technologies (QUICKHEAL) Q4 25/26 earnings summary

Executive summary

• FY26 revenue declined 6.6% year-over-year to ₹261.0 Cr, with Q4 FY26 revenue down 25.2% YoY to ₹48.7 Cr, marking the worst quarter in company history.

• PAT for FY26 was a loss of ₹(10.9) Cr, compared to a profit of ₹5.0 Cr in FY25; Q4 FY26 PAT was ₹(19.9) Cr, with negative EBITDA of ₹(29.4) Cr.

• Enterprise segment revenue grew 22.5% YoY to ₹148.4 Cr, now over 50% of total revenue, while consumer revenue declined 24.7% YoY to ₹139.8 Cr.

• Deferred revenue increased to ₹33.8 Cr from ₹14.3 Cr, indicating a strong order pipeline and improved future visibility.

• Transformation underway from B2C antivirus to holistic cybersecurity, with management expecting enterprise to reach 80%-90% of revenue in 2-3 years.

Financial highlights

• FY26 net revenue: ₹261.0 Cr (-6.6% YoY); Q4 FY26: ₹48.7 Cr (-25.2% YoY).

• FY26 EBITDA: ₹(29.4) Cr; PAT: ₹(10.9) Cr; Q4 FY26 EBITDA: ₹(29.3) Cr; PAT: ₹(19.9) Cr.

• Deferred revenue increased to ₹33.8 Cr; order book rose to ₹55 Cr from ₹6 Cr.

• Cash and cash equivalents at year-end FY26 were ₹13.1 Cr, down from ₹20.8 Cr in FY25.

• FY26 gross margin was 95.9%; Q4 FY26: 91.4%.

Outlook and guidance

• Management expects the transitionary phase and financial pain to last up to two more quarters.

• Enterprise business is projected to contribute 80%-90% of revenue within 2-3 years.

• Focus on expanding enterprise business, AI-driven innovations, and international expansion.

• Strong order pipeline and diversified revenue base support confidence in sustainable growth.