Arcure returns to growth in the first half of 2026, EBITDA turns positive again
Arcure, a specialist in artificial vision for industrial equipment safety, has published its results for the first half ended June 30, 2026. The group, based in Pantin, returns to revenue growth and sees its gross operating surplus turn positive again.
Beyond the accounts, the period is marked by the strengthening of the strategy to win over equipment manufacturers (OEM), with two new agreements signed in 2026 following the Jungheinrich agreement in 2024.
Revenue of €6.5 million and gross operating surplus positive again
In the first half of 2026, Arcure achieved revenue of €6.5 million, up 3.4% compared to the first half of 2025 (€6.3 million). This growth is driven by the Asia-Pacific region, which contributes €1.3 million, or 20% of revenue, and by the growth of indirect and OEM distribution channels, which now represent 57% of activity compared to 30% a year earlier.
Gross margin stands at €3.7 million, with a gross margin rate of 57% compared to 60% in the first half of 2025, with the geographic and channel mix temporarily weighing on the rate. Operating expenses fell to €7.7 million from €9.5 million a year earlier, due to cost-saving measures implemented in 2025.
Gross operating surplus turns positive at €0.2 million, compared to -€0.1 million in the first half of 2025. The net loss attributable to the group narrows to -€1.0 million compared to -€1.1 million a year earlier, or earnings per share of -€0.16 (-€0.19 in the first half of 2025).
OEM sales grow 91.5% and two new manufacturers signed
The reorientation towards distribution and OEM sales is producing its first measurable effects. OEM sales grew 91.5% over the half-year and sales through distributors grew 95.3%.
Following the signing of Jungheinrich in 2024 (the third-largest manufacturer of forklifts worldwide), Arcure concluded two new OEM agreements in 2026, with Bomag and with a North American forklift manufacturer. Sales volumes with Jungheinrich are beginning to ramp up during the half-year.
According to the group, around twenty negotiations are underway with Tier 1 manufacturers and equipment suppliers, with several advanced discussions. A fourth agreement could be finalized by the beginning of 2027. These partnerships will feed revenue in the coming years, as integration programs ramp up.
Arcure confirms target of net result breakeven for 2026
As of June 30, 2026, equity attributable to the group amounts to €5.1 million, compared to €6.1 million at the end of December 2025. Total assets stand at €15.5 million, down from €17.0 million at the end of 2025, reflecting in particular the reduction in inventory (€1.8 million compared to €2.7 million).
Gross cash stands at €2.8 million as of June 30, 2026, compared to €3.2 million at the end of 2025, with the half-year variation (-€0.4 million) reflecting the financing of R&D investment by the self-financing capacity generated over the period (+€1.0 million). Net financial debt stands at €4.6 million, essentially composed of convertible bonds maturing in 2027.
The group confirms it expects to return to net result breakeven for 2026. The next financial publication, 2026 annual revenue, is expected in January 2027.
