StrongPoint (STRO) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 14% YoY to NOK 364m; EBITDA increased to NOK 18m from NOK 14m, while LTM recurring revenue declined 4%.

• YTD revenue grew 3% to NOK 1,049m; YTD EBITDA was NOK 32m and net loss after tax was NOK 19m.

• Growth was led by the Nordics and Spain; former ESL partner revenue losses and a temporary Sainsbury’s volume reduction weighed on recurring revenue.

Financial highlights

• Q3 gross profit increased NOK 6m to NOK 150m; gross margin fell to 41% from 45%, mainly due to lower-margin AutoStore sales and reduced ESL and Order Picking revenue.

• Q3 operating profit was NOK 8m versus NOK 3m; EBT was -NOK 3m versus NOK 18m, and net loss was NOK 2m versus net income of NOK 17m.

• Operating cash flow was -NOK 19m versus NOK 23m; YTD operating cash flow was NOK 21m versus NOK 52m.

• Q3 EPS was -NOK 0.05 versus NOK 0.38; YTD EPS was -NOK 0.43 versus NOK 0.13.

Outlook and guidance

• No short-term guidance; project delivery timing can cause quarter-to-quarter fluctuations on the path to stable, sustainable profitability.

• Cost initiatives target lower external and internal spending, staffing alignment, efficiency and a right-sized cost base; some costs are expected in the short term.

• Successful delivery of won Order Picking contracts is a priority for realizing recurring revenue; the Sainsbury’s rollout is taking longer than expected.

• Long-term ambition remains healthy revenue growth and an EBITDA margin above 10%.