q.beyond AG

Welcome to the Q1 Earnings Call 2026 of QBeyond AG. I would like to welcome the company CEO Thies Rixen and CFO Nora Wolters, who will guide us through the presentation in a moment, followed by a Q&A session via audio line and chat. And with that, I hand over to you, Mr. Rixen.

Yeah, thank you, Mara. Hello, everybody. Nora and myself, we'd like to present you the Q1 figures. And before I hand over to Nora, I'd like to give you a little update about the surgery we announced in March where we are. A little recap. We built this strategy on the foundation of what we already have. So this is very important to say. So we will keep our current model, consult to operate with consulting and managed service. and build on that let's say three elements on top one is industry focus so we like to have more vertical expertise in several industry we play two macro trends one is in healthcare there we We will look at the 2000 hospitals in the region of Germany, Austria and Switzerland and the energy sector, the 700 local energy providers, Stadtwerk in Germany. So healthcare, we're all getting older. So we have to transform our healthcare system and in energy, the macro trend is everything gets electrified and we need more energy for that and also on top of that for the AI system which is building up and where we like to have a where we have to like a step in the door let's say or foot in the door on the step And we will keep our other big industries like logistic or retail. So this is number one. So we will put on top of technology, we will put industry expertise. Therefore, we will have more business and more margin. um on top of that is ai ai is like like internet like cloud the next or mobile the next big tech revolution it's already there it's building up and our job will be as we do it right now with with other technologies like sap we will build agents and we will run agents for our customers and manage service. And we see it right now. It's getting bigger and bigger and bigger. And therefore, this for us is a new portfolio. And internationalization is we will roll out our business model in the countries we have already, like the Baltics and Spain and maybe some others. Let's see what happens. So this is our strategy where we drive further what we have already achieved in the last three years. So where we are right now. We tried to put some flesh on the bone, as you see here. For industry focus, we prolonged a lot of contracts. One was a major contract with Röhlich for five years with over 100 million in TCV in the two major industries we have right now. And we are in serious talks that I can say in the healthcare sector. to form a joint venture in that space. So this is developing and we see it in both, let's say, not segments, but in both areas. So we have a track record in the already existing industries and we are close to do the first, at least for us, major step in the healthcare sector. AR orchestration, as I said, we are going to build agent for our clients and run the agents. There we have in Q4 and Q1, we have acquired plus 10 customers for that. Our wins in the first quarter was up to 7%, also with the help of the 10 new clients. And we launched by ourselves right now, 38 major agents for QBeyond to drive internal efficiency. It's not only a game for us that we do it for our clients, it's also important that we, let's say, be more efficient every year in using AI. So the internationalization that we already discussed with you, so we are rolling out go-to-market activities in the vortex in Spain. And we decided in Q4 to start a third near-shore center in Cluj, Romania, because of SAP expertise, huge SAP expertise in this area or in this country. And also, we will transfer our, let's say, service desk activities to Romania combined with AI to be better in that space. So this is it for the third year. We are quite, I would say, quite on track, sorry, from our point of view in the first quarter. I'd like to speed it up for the upcoming, for the rest of the year. So with that, I hand over to you, Nora.

Thank you, Thies. Welcome from my side too. Q1 started as expected. Let me share a fitting metaphor. QB1's direction is like flying in an airplane with a clear flight plan and a permanent check of navigation data. and we adjust accordingly. This is our strategy 2028, which follows on from our very successful strategy 2025. For Q1, this means a strong focus on portfolio investment in AI expertise. 2025 was a year of quality adjustment. But our resilient and structural stabilized business model with nearly 70% recurring revenue is the basis for a successful strategy 2028. An impressive sales funnel of more than 200 million euro will lead to rising revenues in the next quarters, especially in H2. Additionally, we gained more than 7% order entry than in QEMP. We report traditionally two segments, consulting and managed services. Starting with consulting, it's growing against the market trends. We earned more than 30% gross profit plus 3% margin and plus 3% revenue. This is a result of a clear improvement utilization and a higher demand for AI consulting and S4HANA transition. The margin shows clearly that the focus on portfolio and capacity control is working. The second segment, managed services, earns an attractive margin, but it's due to lower investment. There are two effects. The first, the cyclical new business 2025, and second, the investment in our AI expertise. We are not focused on cost-cutting at any cost, but rather on ramping up our pipelines. Let's have a short look at our P&L. The revenue for Q1 was €42.8 million, EBITDA €1.5 million, a temporarily negative consolidated net income, which is expected for a year to become positive. As expected, all results are impacted by a pangsyth related to AI expertise and internationalization. as Thies said before. In other words, we made upfront investment for scaling. We are talking about investment cycle visibility here, not structural margin erosion. Our net liquidity is rising, plus €0.6 million in Q1 and a net liquidity of €42.6 million. Gaining liquidity is good, but we want more profitability. We invest a lot of time in new possible acquisition targets. Unfortunately, one failed in Q1 and at the moment we have promise and talks. So maybe there will be more information in the next months. Our company is debt-free and the net liquidity that corresponds to 1.71 each share shows a high potential. 2026 brought and brings several milestones for QBeyond. The EGM and the capital reduction finally cleaned up our balance sheet, especially the accumulated deficit. As the aimed results, QBeyond would be able to share, sorry, QBeyond would be able to have share buybacks or pay dividends without endangering the financial stability. So we are well prepared to implement the strategy 2028. Our most important message today, we confirm the guidance for 2026 based on our strategy 2028. It's a very clear signal that the execution of our strategy and pipeline compensates the microeconomical pressure we suffer at the moment. We expect revenues between 182 to 190 million euros and EBITDA between 10 and 16 million euros and a positive free cash flow. Additionally, a positive consolidated net income. We combine investments for growth and the expectation that the pipeline and financial results by the foundation for shareholders will be very successful if it's finally decided legally. So this is the end for the financials for today in this presentation. And I hand over again to Thies.