TomTom (TOM2) Q2 2026 earnings summary

Executive summary

• Progress in Automotive and Enterprise segments, with focus on scalable location technology, AI-consumable data, and expanding customer base.

• Launched TomTom Agent Toolkit via Maps SDK and expanded Traffic footprint through new logistics and road network agreements.

• CEO transition completed in April 2026, appointing Mike Schoofs.

• Disciplined execution and product innovation are driving commercial traction and positioning for future growth.

• €15 million share buyback program completed during the quarter.

Financial highlights

• Q2 2026 group revenue was €135 million, down 8% year-over-year; Automotive €81 million (-6%), Enterprise €38 million (-4%), Consumer €15 million (-24%).

• Location Technology revenue in Q2 2026 was €119 million, down 5% year-over-year.

• Gross margin improved to 90% from 88% last year.

• Operating result was €9 million versus a €20 million loss last year; operating margin reached 6%.

• Free cash flow was an outflow of €8 million for Q2 2026; net cash position at quarter-end was €234 million, with no outstanding bank borrowings.

Outlook and guidance

• Full-year 2026 group revenue expected between €495 million and €555 million; Location Technology revenue between €435 million and €485 million.

• Operating margin for the full year expected around 3%.

• Revenue growth anticipated from 2027 onwards, excluding Consumer segment.

• Free cash flow expected to remain negative for 2026, with reversal anticipated next year.