Virtualware (MLVIR) H1 2026 earnings summary

Executive summary

• Consolidated interim financial statements for the six months ended 30 June 2026, prepared in accordance with Spanish accounting standards, show a return to profitability with net income of €132,680 versus a €299,082 loss a year earlier.

• Revenue grew 65.38% year-over-year to €2,600,346, driven by strong subscription and services growth.

• EBITDA improved to €375,323 from a negative €61,785 in H1 2025.

• Operating profit reached €152,934.75, compared to a loss of €271,870.40 in the prior year.

Financial highlights

• Net turnover increased to €2,600,346.30 for the period, up from €1,572,368.53 year-over-year.

• Subscription revenue exceeded €1.3 million, accounting for half of total revenues.

• Gross margin was 91.04%, down from 96.38% a year earlier.

• Total assets grew to €10,543,468.85 from €7,753,783.90 year-over-year.

• Ended the period with negative net debt of €1,915,216, indicating a net cash position.

Outlook and guidance

• Management continues to assess development costs for capitalization and impairment, with ongoing reviews of intangible asset useful lives and customer credit risk.

• Guided for organic revenue growth of over 30% in 2026.

• Targeting EBITDA margins in the 20% to 25% range.