Techstep Q2 2026 Revenue Rises 12% to NOK228.8 Million as Margin Falls to 22.7%

EarningsCorporate Action
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Techstep ASA reported 12% year-on-year revenue growth in Q2 2026 to NOK228.8 million, driven by device deliveries including to Helse Midt-Norge, but net gross profit fell 25% to NOK52 million as margin dropped to 22.7% from 33.8%. Adjusted EBITA turned negative at NOK12.9 million, a year-on-year decline of NOK13.3 million, and the net loss was NOK30.5 million, while own software revenues declined 35% to NOK15.7 million and operating cash flow was negative NOK16.1 million. The company is executing a cost reduction program targeting an annualized cost base of NOK218 million by the end of 2026, down from NOK312 million in 2025, including 25 FTE reductions, and has secured a NOK40 million bridge facility plus a fully underwritten rights issue of at least NOK83.3 million guaranteed by five shareholders at NOK1 per share. Commercial highlights included first deliveries in Spain through Vodafone and other operators, with potential for up to 80,000 devices by 2027, and contract renewals with Equinor and Bane NOR. CFO Havard Haukdal said the share price decline triggers a goodwill impairment assessment in Q3 2026, with goodwill standing at NOK485 million, and CEO Morten Meier said Q2 profitability was below expectations with credibility to be built through disciplined execution.

Impact on stocks 4

Cloud & Digital Infrastructure▲ · 1 stocks
Vodafone Group PLC
VOD
▲ PositiveDemandrelevance

Techstep's first device deliveries in Spain are made through Vodafone and other operators, with potential for up to 80,000 devices by 2027

Artificial Intelligence▲ · 1 stocks
Energy▲ · 1 stocks
Others▲ · 1 stocks

Off-coverage companies 1

Techstep ASAPrivate± Mixed
CapitalDemandrelevance

Q2 2026 net gross profit fell 25% and adjusted EBITA turned negative at NOK-12.9m as margin dropped to 22.7% from 33.8%

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