Growens (GROW) Q2 2026 earnings summary

Executive summary

• Consolidated revenues for H1 2026 reached €40.3M, up 11.5% year-over-year, driven by growth in both SaaS and CPaaS business lines.

• EBITDA turned positive at €1.2M, a significant turnaround from a €0.2M loss in H1 2025, reflecting improved cost discipline and operational efficiency.

• Net loss narrowed to €1.36M–€1.4M, improving by over 42% compared to H1 2025.

• The Group maintained strong liquidity, with cash and cash equivalents at €16.7M and a net financial position of €9.2M, despite increased short-term debt.

• Continued heavy investment in R&D, especially for Beefree's AI-driven features and Agile Telecom infrastructure.

Financial highlights

• SaaS (Beefree) revenues grew 7.4%–12% to €7.6M–€7.7M; CPaaS (Agile Telecom) revenues grew 12%–13% to €32.2M–€32.6M.

• Gross profit increased 10.3%–16% to €10.5M, with gross margin stable at 26.1%.

• Operating expenditure decreased to €9.3M, down from €9.7M in H1 2025.

• Net financial income more than doubled to €0.15M.

• Recurring revenues rose 12%–17.4% year-over-year to €7.7M–€30.3M, representing up to 76% of total revenues.

Outlook and guidance

• Beefree targets ARR of $21M–$23M by year-end 2026, with a 2024–2027 CAGR of 20–23% and positive cash flow by 2028.

• New go-to-market leadership and repricing initiatives are expected to drive ARR growth.

• Agile Telecom to focus on margin protection, cost optimization, and expansion into new messaging channels.

• Ongoing investments in AI, product innovation, and compliance with evolving regulations.

• Uncertainty remains high due to market dynamics and rapid AI-driven changes.