Voi Technology (VOI) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 53% YoY to €88.2m; 53.2m rides were delivered, nearly half the total for 2025. Adjusted EBIT more than doubled to €21.9m.

• Fleet expansion and higher revenue per vehicle supported growth, with active vehicles up 40% and revenue per vehicle per day up 10% YoY.

Financial highlights

• Q3 net revenue was €88.2m (€57.5m); EBIT €16.9m (€8.1m); adjusted EBITDA €31.0m (€16.4m); adjusted EBIT €21.9m (€9.4m).

• Q3 net profit increased to €11.1m from €7.0m; 9M net profit was €0.6m versus a €1.8m loss.

• 9M net revenue rose 48% YoY to €193.3m; adjusted EBITDA reached €48.9m (€24.1m), and adjusted EBIT €24.6m (€5.8m).

• Q3 operating cash flow increased 69% YoY to €33.4m; 9M operating cash flow was €47.6m (€24.1m).

Outlook and guidance

• Management said internally generated cash flows are nearing the point of fully funding annual growth capex.

• London’s Transport for London tender is expected next year; Berlin and several other large German cities may move to tenders over the coming year.

• Fleet growth and rising rider demand are expected to support continued expansion; Paris operations are stable and fleet expansion is matching demand.