Tinexta (TNXT) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenues were €106.1 million, nearly flat year-over-year, with adjusted EBITDA down 14.2% to €15.2 million and a reported net loss of €4.9 million, mainly due to non-recurring costs and amortization.

• Adjusted net profit from continuing operations was €0.7 million, while reported net profit was -€4.9 million.

• Free cash flow from continuing operations increased 12% to €34.7 million, driven by strong working capital management.

• Net financial debt rose to €351.1 million, mainly due to the acquisition of a minority stake in Tinexta InfoCert and other M&A activity.

• The Board confirmed FY 2026 targets: revenues up 3-4%, adjusted EBITDA up 6-7%, and NFP/EBITDA Adjusted at 3.1-3.3x.

Financial highlights

• Revenues: €106.1 million (-0.3% vs Q1 2025); adjusted EBITDA: €15.2 million (-14.2%); EBITDA margin: 14.3% (vs 16.7%).

• Net financial debt: €351.1 million (vs €239.8 million FY 2025); NFP/LTM EBITDA Adjusted: 3.49x.

• Free cash flow from continuing operations: €34.7 million, up 12% year-over-year.

• Shareholders' equity decreased by €143.6 million since December 2025, mainly due to acquisitions and performance share plan.

• Adjusted operating profit was €4.6 million; reported operating profit was -€2.5 million.

Outlook and guidance

• FY 2026 guidance confirmed: revenues +3-4% and adjusted EBITDA +6-7% over 2025, with NFP/EBITDA Adjusted at 3.1-3.3x.

• Cost containment and operational efficiency initiatives are underway.

• Ongoing monitoring of geopolitical risks, especially in the Middle East/Gulf region, which could impact Ascertia.

• Focus on innovation and new product development to sustain market share.