Analyst and Investor Call I 11 May 2026 Thies Rixen, CEO I Nora Wolters, CFO
Q1 2026: promising start to implementing "Strategy 2028"
Strategy 2028: the right strategy for a tough environment
Strategy 2028
Industry Focus |
|
Driving margin |
AI Orchestration |
|
Driving top line and margin |
Internationalisation |
|
Driving top line |
Strategy 2028: wide-ranging progress in first months of 2026
Strategy 2028
Industry Focus |
|
Driving margin |
AI Orchestration |
|
Driving top line and margin |
Internationalisation |
|
Driving top line |
Ongoing prioritisation of high-margin revenue streams
Q1 2026
42.8
Q1 2025
-2%
43.7*
€ million
* Comparable revenues with regard to ongoing focus on profitable services and solutions
Relevant factors:
+ High share of recurring revenues (69%)
+ Concentration on five focus sectors (68%)
+ Rising new orders and impressive sales funnel
Impact of subdued new business in 2025
Sales focus on Consulting is paying off
Q1 2026
Margin
17%
Q1 2025
Margin
14%
2.0
Gross profit
2.6
€ million
Revenues:
Q1 2026: € 15.3 million
Q1 2025: € 14.8 million
Relevant factors:
+ Improved team capacity utilisation
+ Higher demand for AI consulting
+ Rising demand for S/4HANA transition
Managed Services continues to earn attractive margin
Gross profit
Q1 2025
Margin
22%
Q1 2026
Relevant factors:
€ million
5.0
Margin 18%
6.9
Revenues:
Q1 2026: € 27.6 million
Q1 2025: € 28.9 million*
* Comparable revenues with regard to ongoing focus on profitable services and solutions
Investments in AI burden gross margin
Effects of subdued new business in 2025 still felt
Revenue comparison impacted for the last time by €2.7m
from less profitable business discontinued in Q1 2025
+ Impressive sales funnel will lead to higher revenues in H2
Earning figures developed as expected in Q1 2026
€ million | Q1 2025 | Q1 2026 |
Revenues | 46.4 | 42.8 |
Cost of revenues | (37.5) | (35.2) |
Gross profit | 8.9 | 7.6 |
Sales and marketing expenses | (3.4) | (3.1) |
General and administrative expenses | (3.4) | (3.5) |
Other operating result | 0.2 | 0.5 |
EBITDA | 2.3 | 1.5 |
Depreciation and amortisation | (2.7) | (2.4) |
EBIT | (0.4) | (0.9) |
Financial result | 0.1 | 0.0 |
Taxes | (0.1) | (0.2) |
Consolidated net income | (0.3) | (1.1) |
< Incl. expenses for AI and implementation of Strategy 2028
< EBITDA expected to grow with rising revenues especially in H2 2026
< For FY 2026, q.beyond expects a positive consolidated net income
Net liquidity is rising thanks to sustainable free cash flow
31/03/2026
31/12/2025
42.6
42.0
€ million
Relevant factors:
+ Net liquidity corresponds to € 1.71 per share
+ Free cash flow of € 0.6 million in Q1 2026
Free capital reserve enables share buybacks & dividends
Shareholders' equity (HGB) at 31 December 2025 (€ million) | Reverse share split at a 5:1 ratio | |
Issued capital | 124.6 | 24.9 |
Bound capital reserve (at least 10% of issued capital) | 14.3 | 2.5 |
Free capital reserve | - | 53.6 |
Accumulated deficit | (57.9) | - |
Shareholders' equity | 81.0 | 81.0 |
31 Jan 2026: Extraordinary Shareholders' Meeting
17 Feb 2026: Entry of the orderly capital reduction
in the Commercial Register
12 Mar 2026: Exchange of q.beyond shares
at a ratio of 5:1
17 Aug 2026: End of the statutory six-month
waiting period
From Mid August 2026 onwards, q.beyond would be able to take shareholder-friendly corporate actions (Subject to decisions to be taken by the Management and Supervisory Boards)
2026e
2025
12
10 -- 16
EBITDA (€m)
Guidance for 2026 confirmed
Revenues (€m)
182 -- 190
183
2025 2026e
Positive free cash flow
q.beyond also expects:
Positive FCF and earnings development lay foundation for shareholder-friendly corporate actions (e.g. buyback and dividends)
Sustainably positive consolidated net income
Outlook for 2026/202814
Strong sales funnel will lead to higher revenues in H2 2026
Q1 2026
+7%
New orders
Q1 2025
€ million
31.3
29.4
Sales funnel of
> € 200 million
As usual, q.beyond also expects higher revenues and earnings
for H2 2026
Strong sales funnel will also lead to sustained organic growth
Organic Growth: Target average revenue growth of ~5% CAGR through to 2028
M&A Strategy: Systematic inorganic expansion to complement organic momentum
Agentic AI Orchestration: Creates market-driven opportunity for profitable revenue upside
~€250m revenues with an EBITDA margin of ~10% by 2028
Profitable growth is built on 3 pillars of Strategy 2028
Industry Focus | AI Orchestration | Internationalisation | ||
We increase customer value and our margin by combining our strong IT portfolio with ever-growing industry expertise. | We use our combined technology and industry expertise as the foundation for building AI agents for and delivering AI orchestration to our customers. | We grow our business in Europe by leveraging our IT and AI Portfolio. | ||
Evolving from an IT services provider into the sovereign AI Orchestrator for the European mid-market | ||||
Contact
q.beyond AG
Arne Thull
Head of Investor Relations / M&A
T +49 221 669-8724
M +49 163 669-8425
invest@qbeyond.de
https://www.qbeyond.de
www.qbeyond.de/linkedin www.qbeyond.de/xing www.qbeyond.de/facebook www.qbeyond.de/instagram www.qbeyond.de/youtube
Excellence in all we do.
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q.beyond AG published this content on May 11, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 11, 2026 at 12:03 UTC.
