Optical networks momentum and recurring revenue growth supported first-half sales, while Bridge plan investment, the Chimere acquisition and ERP rollout weighed on profitability ahead of expected H2 acceleration.
Ekinops reported H1 2026 revenue of €58.2 million, up 2% year on year, and reaffirmed its target of single-digit revenue growth for the full year. Optical Networks revenue rose 3%, supported by strong second-quarter momentum in North America and France, while Connectivity & SASE Networks increased 1% and cybersecurity represented 6% of first-half sales. Annual recurring revenue reached €15.9 million as of June 30, 2026, up 7% from December 31, 2025. Profitability weakened as the group increased spending on R&D, sales and execution of its Bridge strategic plan, with EBITDA falling to €5.9 million and the EBITDA margin narrowing to 10.1% from 13.1% a year earlier. Operating income was negative €1.8 million after costs tied to the Chimere acquisition and implementation of a new Group ERP, while available cash stood at €23.0 million and net cash remained positive at €0.5 million. Ekinops said investment will accelerate in H2 2026 as it develops new DCI and sovereign SASE products and expands its go-to-market model, with second-half growth expected to be supported by a robust sales pipeline, continued North America momentum, first deployments under a 10-year Proximus framework agreement, and initial deliveries of new DCI and SASE solutions at year-end.