SoftwareONE’s shares advanced 12.96% on Tuesday after the company reported a 68.2% year-over-year increase in first-half 2026 revenue to CHF 818.3 million, driven by the acquisition of Crayon. The stock closed at $9.77, just below its 52-week high of $9.78.
Adjusted EBITDA margin improved to 24.9% from 20.4% in the prior-year period, exceeding the 2026 guidance floor of 23%. Net profit surged to CHF 54.3 million from CHF 9.1 million a year earlier. Operating cash flow rose to CHF 90.1 million, while free cash flow for the last 12 months reached CHF 211.7 million after capital expenditures of CHF 71.9 million.
The company achieved CHF 100 million in run-rate cost synergies from the Crayon integration six months ahead of schedule, with an additional CHF 5 million to CHF 10 million expected by year-end. Integration expenses totaled CHF 42.3 million as of June 2026, with total projected costs now estimated between CHF 75 million and CHF 85 million through 2027, down from the prior CHF 80 million to CHF 100 million range.
Like-for-like combined revenue grew 11.6% year-over-year, while adjusted EBITDA margin expanded to 28.9% in Q2 2026, up 5.4 percentage points from the prior year. The channel business, which accounts for the majority of revenue, grew 35.6% at constant currency with an adjusted EBITDA margin of 57.2%, up 9.3 percentage points.
Regional performance showed APAC as the fastest-growing market, up 27% in Q2, while DACH and Western Europe grew 6.8% and 11.7%, respectively. The services business expanded 17.4% at constant currency, with adjusted EBITDA margin reaching 8.5%, compared with 3.3% in H1 2025.
SoftwareONE maintained its full-year 2026 guidance for mid- to high single-digit revenue growth, adjusted EBITDA margin above 23%, and cash conversion above 60%. The company also reaffirmed its long-term EBITDA margin target of above 28% by 2030, with contributions from AI automation, channel growth, and services expansion.
Net debt stood at CHF 408 million as of June 2026, representing leverage of 1.1 times, while equity increased to CHF 992.7 million. The company’s gross debt includes a CHF 550 million term loan and CHF 200 million drawn under its revolving credit facility.
