LINK Mobility Group Holding ASA reported Q2 2026 revenue of NOK 2.05 billion, up 17% from the same period last year, as organic growth returned and Communications Platform as a Service (CPaaS) momentum accelerated. The company’s adjusted EBITDA reached NOK 272 million, a 28% year-over-year increase, though organic adjusted EBITDA declined 1% in fixed currency.
Organic revenue growth stood at 3% in stable currency, with enterprise messaging revenue expanding 6% despite a 3% decline in the Global Messaging segment. The net retention rate improved to 101%, up from 96% in the prior quarter and approaching the medium-term target of about 105%. Proforma gross profit totaled NOK 515 million, representing a 23.8% margin, while proforma adjusted EBITDA reached NOK 283 million at a 13.1% margin.
Foreign exchange headwinds weighed on performance, reducing gross profit by NOK 21 million year-over-year and revenue by NOK 89 million. Operating expenses rose 5% organically, equating to an NOK 10 million increase, while bad debt recognition increased by NOK 3 million.
CPaaS gross profit over the last twelve months reached NOK 148 million, reflecting a 39% compound annual growth rate since 2023. Gross margins for CPaaS stood at approximately 40%, compared with roughly 20% for traditional SMS. WhatsApp billable events surged 194% year-over-year, while RCS volumes grew 112%. Over-the-top messaging now accounts for 8% of total gross profit, up three percentage points from the prior year.
Contract wins in Q2 2026 totaled NOK 53 million, a 7% increase from Q2 2025. SMS contracts contributed NOK 31 million, up 29% year-over-year, while CPaaS contracts added NOK 22 million, representing 42% of total wins. The company’s customer base spans approximately 68,000 accounts across 21 markets, with the top 10 customers accounting for roughly 15% of gross profit. Enterprise churn stood at 2.2% in the quarter.
SMSPortal, consolidated since December 2025, contributed NOK 280 million in revenue and NOK 77 million in gross profit, with adjusted EBITDA of NOK 67 million at a 24% margin. The platform’s message run-rate reached 450 million annualized messages by quarter-end, with an additional 770 million annualized messages yet to ramp up. Web2SMS in Romania expanded LINK’s market share to approximately 20%.
Operating cash flow totaled NOK 192 million in Q2 2026, with an 88% conversion rate from last-twelve-months adjusted EBITDA. Net leverage stood at 1.9x adjusted EBITDA, within the target range of 2.0–2.5x. The company completed a share buyback program totaling NOK 169 million.
The banking and insurance sector accounted for 19% of revenue, followed by technology and software platforms at 17%, and telecommunications at 17%. Supermarkets, retail, and e-commerce contributed 14%, with the remainder distributed across other verticals.
