Teamshares (TMS) Q2 2026 earnings summary

Executive summary

• Revenue reached $148.7 million in Q2 2026, up 20% year-over-year, driven by acquisitions and organic growth.

• SME Segment EBITDA rose 47% to $20.1 million, with Adjusted EBITDA up 166% to $9.6 million and LTM Pro Forma Adjusted EBITDA at $21.2 million.

• Net income was $9.5 million, a $22.4 million improvement year-over-year, reversing prior losses.

• Completed Nasdaq listing and SPAC merger in June 2026, raising significant equity to support acquisition strategy.

• Platform supports scalable acquisition and integration of SMEs, with 93 operating subsidiaries and over 15,000 size-qualified leads sourced annually.

Financial highlights

• Q2 2026 revenue: $148.7 million (+20% YoY); YTD revenue: $269.7 million (+19% YoY); LTM Pro Forma Revenue: $560 million.

• Q2 2026 net income: $9.5 million (vs. -$12.9 million Q2 2025); Q2 2026 gross profit: $61.4 million (+25% YoY); gross margin: 41%.

• SME Segment EBITDA: $20.1 million (+47% YoY) in Q2 2026; YTD EBITDA: $29.2 million (+54% YoY).

• Adjusted EBITDA: $9.6 million (+166% YoY) in Q2 2026; Pro Forma Adjusted EBITDA: $9.8 million (+171% YoY).

• Free cash flow for H1 2026: -$8.7 million (vs. -$30.8 million in 2025); cash and equivalents at June 30, 2026: $113.4 million.

Outlook and guidance

• Reaffirmed 2026 guidance: $60 million Pro Forma Adjusted EBITDA and $40 million acquired EBITDA.

• Approximately $30 million of annual SME EBITDA under LOI as of August 2026, supporting acquisition targets.

• Guidance assumes successful completion of additional capital transactions to finance acquisitions.

• Acquisitions expected to be weighted toward Q4 due to seasonality and recent public listing.

• Management priorities include completing key financings, closing high-quality acquisitions, and driving organic earnings growth.