Wavestone (WAVE) Q1 2026 TU earnings summary

Executive summary

• Q1 2025/26 revenue reached €231.5m, a slight decrease of 0.4% year-over-year, aligning with expectations.

• Organic revenue declined by 1% at constant scope and forex, with a negative working day impact of -0.7%.

• Wivoo, a French consulting firm, was consolidated from June 1, 2025.

Financial highlights

• Consultant utilization rate was 71% in Q1 2025/26, down from 73% in the previous fiscal year.

• Average daily rate increased to €944, up 0.5% from €939 in 2024/25.

• Order book stood at 4.3 months as of June 30, 2025, stable year-over-year.

Outlook and guidance

• Fiscal year 2025/26 objectives reaffirmed: positive organic growth and recurring operating margin above 13%.

• Guidance excludes Wivoo and any new acquisitions, calculated on a constant forex basis.