Trifork Group (TRIFOR) Q3 2026 earnings summary

Executive summary

• Q3 revenue was EUR 61.0m, up 24% reported and 27.8% organically; growth was 6.4% excluding hardware, led by Products and sovereign hosting.

• Adjusted EBITDA rose 40.4% to EUR 10.4m, with margin up to 17.0%; Products contributed more than half of adjusted EBITDA.

Financial highlights

• 9M revenue was EUR 175.3m versus EUR 161.9m; adjusted EBITDA was EUR 25.4m versus EUR 19.5m.

• Q3 EBIT increased 69.5% to EUR 5.8m; net income was EUR 2.8m versus EUR 1.6m, and diluted EPS was EUR 0.11 versus EUR 0.06.

• 9M net income was EUR 7.0m versus EUR 2.7m; diluted EPS was EUR 0.27 versus EUR 0.09.

• 9M data-centre hardware revenue was EUR 16.8m versus EUR 11.3m in 9M 2025; FY 2026 hardware revenue is expected to be slightly above FY 2025.

Outlook and guidance

• FY 2026 revenue guidance increased to EUR 235–240m from EUR 230–240m; organic growth guidance is 9–11%.

• FY 2026 adjusted EBITDA guidance narrowed to EUR 35–37m from EUR 35–40m, implying 16–23% growth and a 15–16% margin.

• Guidance includes announced acquisitions and divestments, excludes potential future transactions; expected depreciation and amortization is EUR 15–17m.

• Products is expected to represent ~one-quarter of FY 2026 revenue; hardware sales are expected to support recurring Operations licence growth in 2027.