Tinexta (TNXT) Q2 2026 earnings summary

Executive summary

• Revenues for 1H 2026 were €214.3 million, essentially flat year-over-year (-0.2%), with Digital Trust and Business Innovation growth offset by a sharp decline in Cybersecurity.

• Adjusted EBITDA was €33.7 million, down 2.8% year-over-year, with margin at 15.7%.

• Net loss from continuing operations was €42.8 million, mainly due to non-recurring impairment charges, while adjusted net profit was €1.9 million.

• Adjusted free cash flow from continuing operations rose 39.3% to €52.4 million.

• Net financial debt increased to €343.3 million, mainly due to acquisitions and minority buy-backs.

Financial highlights

• Revenues: €214.3 million (-0.2% YoY); Adjusted EBITDA: €33.7 million (-2.8% YoY); EBITDA: €27.8 million (-3.7% YoY).

• Operating loss: €40.9 million, impacted by €35.2 million in non-recurring impairment of intangible assets.

• Adjusted net profit: €1.9 million; Reported net loss: €42.8 million.

• Adjusted free cash flow: €52.4 million (+39% YoY).

• Net financial indebtedness: €343.3 million, up €103.5 million from December 2025.

Outlook and guidance

• 2026 revenue growth expected at 0–2% (previously 3–4%), with adjusted EBITDA growth forecast at 2–4% (previously 6–7%).

• Year-end 2026 debt ratio (NFP/Adjusted EBITDA) expected between 3.3x and 3.4x.

• Guidance revision reflects underperformance in Cybersecurity and ABF, with cost containment and innovation initiatives underway.