Tinexta (TNXT) Q2 2026 earnings summary

Executive summary

• Revenues for 1H 2026 were €214.3 million, essentially flat year-over-year (-0.2%), with Digital Trust and Business Innovation growth offset by a sharp decline in Cybersecurity.

• Adjusted EBITDA was €33.7 million, down 2.8% year-over-year; reported EBITDA was €27.8 million.

• Net loss from continuing operations was €42.8 million, mainly due to non-recurring impairment charges related to ABF.

• Adjusted net profit from continuing operations was €1.9 million.

• Adjusted free cash flow from continuing operations rose 39.3% to €52.4 million.

Financial highlights

• Revenues: €214.3 million (-0.2% YoY); Adjusted EBITDA: €33.7 million (-2.8% YoY); EBITDA: €27.8 million (-3.7% YoY).

• Adjusted EBITDA margin: 15.7% (vs. 16.1% in 1H 2025); reported margin 13%.

• Operating loss: €40.9 million, impacted by €35.2 million in non-recurring impairment of intangible assets.

• Adjusted net profit: €1.9 million; reported net profit: -€42.8 million.

• Adjusted free cash flow: €52.4 million (+39% vs prior year).

Outlook and guidance

• 2026 revenue growth expected at 0–2% (previously 3–4%).

• Adjusted EBITDA growth forecast at 2–4% (previously 6–7%).

• Year-end 2026 debt ratio (NFP/Adjusted EBITDA) expected between 3.3x and 3.4x.

• Guidance revision reflects underperformance in Cybersecurity and ABF, with cost containment and innovation initiatives underway.