Omda (OMDA) Q1 2026 earnings summary

Executive summary

• Q1 2026 delivered stable and profitable results, with sales at NOK 119 million (119 MNOK), recurring revenue rising to 82% of total income, and EBITDA at NOK 24 million (20% margin), slightly below the prior year.

• Strategic focus on AI enablement and governance, with resources shifted to AI development and a group-wide framework established, supporting scalable and compliant adoption.

• High M&A activity continues, with over 400 targets in the pipeline and ambitions for both bolt-on and transformative deals.

• Refinancing is under active consideration due to lower leverage and strong performance, with the bond callable in December 2026.

Financial highlights

• Total income for Q1 2026 was NOK 119 million (119 MNOK), down from NOK 121 million in Q1 2025, with recurring software revenue at NOK 98 million (82% of total), up 5% quarter-over-quarter.

• EBITDA was NOK 24 million (20% margin), slightly lower than Q1 2025; reported EBITDA was 23.7 MNOK.

• CapEx was around 9% of revenue, with a target to decrease by 1 percentage point per year, aiming for 5% over five years.

• Salary, personnel, and OpEx were slightly higher than desired, partly due to certification and compliance costs.

• Cash and cash equivalents at quarter-end were 53.9 MNOK, down from 83.8 MNOK at year-end 2025.

Outlook and guidance

• 2026 revenue guidance reaffirmed at NOK 500–525 million (500–525 MNOK), with an EBITDA margin target of 28–32%.

• Long-term targets: 5–10% organic growth, 10–20% inorganic growth, and EBITDA above 30%.

• CapEx and COGS targeted to decrease gradually; salary and OpEx to be managed as revenue grows.