Netcompany - Interim report for the three months ended 31 March 2026

Company announcement
No. 28/2026

 6 May 2026

Netcompany - Interim report for the three months ended 31 March 2026

Strong growth driven by AI, products and platforms
Summary

• Organic revenue grew by 12.8% (constant 13.1%) to DKK 1,967.4m in Q1 2026.
• Reported revenue grew by 38.4% in Q1 2026, of which 25.6 percentage points were non-organic related to Netcompany Banking Services.
• Organic adjusted EBITDA was DKK 298.7m in Q1 2026, yielding an organic adjusted EBITDA margin of 15.1% in constant currencies.
• Reported adjusted EBITDA increased 10.8% to DKK 340.3m in Q1 2026, yielding an adjusted EBITDA margin of 14.1%. Netcompany Banking Services impacted the margin negatively by 1.2 percentage points in the quarter.  
• Average workforce increased to 9,845 FTEs.
• Free cash flow in Q1 2026 was negative DKK 305m.
• Debt leverage was 2.1x.
• Financial guidance for the full-year 2026 is maintained. For the Group excluding Netcompany Banking Services, Netcompany expects revenue growth between 5% and 10% and an adjusted EBITDA margin excluding Netcompany Banking Services between 17% and 20% – all in constant currencies.  

“The first quarter of 2026 marks the beginning of a new and exciting era for Netcompany. Our market-leading products and platforms combined with embedded AI capabilities have placed us in a unique position in the market resulting in reported growth of more than 38% of which 13% was organic. At the same time, we increased our earnings by more than 18% compared to the same period last year.

In particular, in the UK – the largest market for IT services in Europe – we saw a strong demand for our offerings resulting in more than 50% revenue growth compared to the same period last year. The growth in the UK reflects our focused strategy to position ourselves as the sovereign and future-proof partner for delivering end-to-end, complex solutions in highly regulated sectors at competitive speed.

The recently announced partnership with INEOS, and thereby the establishment of Netcompany INEOS Cycling Team, showcases our PULSE AI technology by enabling world-class athletes to perform at their best. It strengthens awareness of Netcompany, reinforces our position as the best-in-class AI partner, and supports our ambition to drive European digitalisation and competitiveness.

Agentic AI is fundamentally changing the way software is delivered. In complex and regulated environments, it only creates value when it is combined with control, security, and deep domain expertise. At Netcompany, we are already proving that this balance is possible, as the first of our kind in Europe. With accelerated investments into Feniks AI, we enable sovereign and secure agentic AI delivery across some of Europe’s most demanding enterprise and government projects. When using Netcompany products and platforms we can optimise IT development time by up to 45%. This is always done without compromising governance, compliance, or data sovereignty and is an example of how Netcompany can help organisations embrace AI in a way that is not only faster, but also safer, smarter, and better aligned with the realities of mission-criticaldelivery.

For these reasons, we see potential for continued growth and improved margins through the application of agentic AI in our products and platforms, which led us to raise our 2026 margin guidance to ~16%–19% on 26 March. We are confident in meeting our revenue growth target of 15%–20%. I am excited about the opportunities ahead and look forward to delivering on our commitments.

Let’s build European sovereignty for the age of AI!”

André Rogaczewski,
Netcompany CEO and Co-founder

Financial overview
For full details on financial performance, see enclosed Company announcement Q1 2026.

Conference details
In connection with the publication of the results for Q1 2026, Netcompany will host a conference call on 6 May 2026 at 11.00 CEST.

The conference call will be held in English and can be followed live via the company’s website; www.netcompany.com

Dial-in details for investors and analysts
DK: +45 7876 8490
UK: +44 203 769 6819
US: +1 646 787 0157
PIN: 598046

Webcast Player URL: https://netcompany.nexahub.io/events/interim-report-for-the-first-3-months-of-2026

Additional information
For additional information, please contact:

Netcompany Group A/S
Thomas Johansen, CFO, +45 51 19 32 24
Frederikke Linde, Head of IR, +45 60 62 60 87

Attachment

• Netcompany Quarterly report - Q1 2026