BE8 accelerates JUMP+ plan, targets 3.2 billion baht revenue by 2028

Earnings
โดย Kaohoon·TH·Read original
Summary · why it matters

Beryl 8 Plus Public Company Limited, or BE8, reported second-quarter 2026 revenue of 580 million baht, up 2 percent from the same period last year. Around 70 percent, or about 400 million baht, came from technology services, which are recurring revenue. Gross profit was 82.2 million baht, up 15 percent from the previous quarter, and gross margin was 14.53 percent, up 2.69 points from the previous quarter, because there was no allowance for onerous contracts, a one-time item recorded in the first quarter of 2026. Net loss was 28.2 million baht, down 59 percent from the previous quarter. Excluding one-time items, net loss improved 25 percent. Current backlog stood at 1,882 million baht, the highest level in six quarters, with about 60 percent, or roughly 1,100 million baht, expected to be recognized as revenue in the second half of 2026. Projects under bidding totaled about 3,992 million baht. Under the Jump+ project, the company targets revenue of 3,200 million baht by 2028, driven by three main strategies: expanding AI Transformation business, penetrating the government sector, and forming strategic partnerships or joint ventures. In AI Transformation, the company has partnered with an overseas AI platform provider and secured exclusive distribution rights in Thailand for three years, with automatic renewal. It has already started its first project for a customer, worth about 10 million baht. Meanwhile, the company is developing the Postman Cloud project with Thailand Post to build a platform connecting logistics services, survey work, express delivery, and business matching, using a nationwide network of about 25,000 postal workers as a key strength. The platform can support various services such as asset surveys for asset management companies, vehicle condition inspections for insurance companies, and product sampling and order taking for consumer goods operators. The company expects to begin recognizing some revenue from September 2026, before completing the platform in November, and then gradually generate revenue from sales and services. As for gross margin, which was 14.53 percent in the second quarter of 2026 and still below the normal level of more than 25 percent, the company expects a gradual recovery from AI Transformation work, strategic joint venture projects, Postman Cloud, and new platforms. Revenue from government expansion is expected to become more visible in 2027. Government work currently accounts for about 30 percent of the total portfolio, partially offsetting the slowdown in the private sector. However, more cautious private-sector IT investment has reduced the number of projects in the market and intensified price competition. BE8 will continue to control costs and expenses while using AI to improve efficiency, supporting the period of gradual revenue recovery and pushing margins back to normal levels going forward.

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