Finnish technology consultancy Gofore Group reported a 32% year-on-year increase in second-quarter revenue to €58.5 million, exceeding analyst expectations of approximately €57.73 million. The company’s adjusted EBITDA margin nearly tripled to 7.2% from 2.6% in the same period last year, reflecting improved operational efficiency.
Organic growth for the quarter was 1.8%, while first-half net sales grew more than 30% year-on-year. Earnings per share reached €0.11, an improvement of €0.17 from Q2 2025 but below the forecast of $0.1449. The company’s headcount grew to around 1,900 employees, an increase of about 500 year-on-year, primarily due to acquisitions.
Gofore’s cash position stood at approximately €27 million, with interest-bearing net debt at €21.5 million and an equity ratio of 50%. Operating cash flow remained positive despite a 1.3% decline in average salaries and a 1.7% increase in customer pricing.
Shares of Gofore rose 5.03% to $10.86 following the earnings update, extending gains from the previous close of $10.34. The stock has traded between $9.64 and $15.20 over the past 52 weeks, with a dividend yield of 4.74% and a free cash flow yield of 13%.
CEO Mika Nylund highlighted the company’s progress in implementing strategic measures, including acquisitions and restructuring, while noting ongoing opportunities for improvement. He emphasized Gofore’s focus on digital technology as its core business. CFO Saara Ukkonen cited stronger profitability driven by higher revenue, integration synergies, and better management of fixed-price projects.
For the third quarter, Gofore projected revenue of approximately €57.75 million and earnings per share of about $0.19. Full-year 2026 guidance includes revenue of €166.67 million and EPS of €0.81, with further growth expected in 2027 to €171.3 million in revenue and €1.18 in EPS.
The company also announced the divestment of a product design and technical documentation business to CoE Group, which will reduce annual revenue by about €8 million starting September 1, 2026, and transfer roughly 110 employees.
