Broadpeak: Revenue Grows by 2.1% in Q1 2026, Software Sales Nearly Double
Broadpeak recorded a revenue of 8.1 million euros in the first quarter of 2026, up by 2.1% compared to the same period last year (+5.8% at constant exchange rates). This modest overall figure masks a contrasting reality: software services (Licenses & Services) nearly doubled (+126.6%), while equipment sales plummeted (−84.6%) due to an unfavorable comparison base linked to a major Asian contract in 2025. Amidst this transformation, the company affirms its commitment to achieving its 2027 goals.
The Licenses & Services segment grew by 126.6% to 2.8 million euros, boosted by traditional offerings (Advanced CDN, Cloud PVR, Multicast ABR) and reflecting sustained customer demand for large-scale streaming solutions and monetization tools. Recurring revenues (Maintenance & SaaS) increased by 4.2% to 5.0 million euros, supported by both the installed base and the rollout of the broadpeak.io platform. This relative stability of the recurring revenue pillar contrasts with the drop in the Equipment segment (servers, routers, storage), which fell from 1.9 million euros to 0.3 million euros. This decline in the equipment sector is explained by an unfavorable comparison: the first quarter of 2025 had seen an exceptional increase due to the execution of a major contract in Asia requiring the initial deployment of infrastructure.
Contrasting Geographies: EMEA Stable, Americas Show Strong Growth, Asia Weakens
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By geographic region, EMEA (Europe, Middle East, Africa) remains the leading market with 4.0 million euros, up by 4.3%. The Americas recorded a more significant growth of 43.4% to reach 3.6 million euros. In contrast, the Asia-Pacific (APAC) region contracted by 68.0% to 0.5 million euros. This decrease again reflects the impact of the large contract from 2025, whose base effect remains very unfavorable this year. The NAB 2026 show, held in April in Las Vegas, confirmed a favorable reception for new Broadpeak products (anti-piracy, Multiview, Dynamic Ad Insertion, CDNaaS, and Analytics), suggesting an underlying positive business momentum.
2027 Trajectory Maintained: Targeting 50 Million Euros and 15% EBITDA Margin
In this context, Broadpeak has confirmed all of its financial targets for 2027. The group aims for a revenue exceeding 50 million euros, with 50% in recurring revenues (SaaS and Maintenance), and an EBITDA margin around 15%. These ambitions imply a continued increase in revenue, with a target exceeding 50 million euros by 2027. The growing share of recurring revenues reflects the publisher's desire to reduce the volatility inherent in equipment contracts and to build a more predictable and sustainable revenue base.
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SectorTélécommunications›Satellite et connectivité
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 17,1 millions d'euros
Quarterly revenue: 17,1 millions d'euros
Revenue growth: -20,9 %
EBITDA: -2,3 millions d'euros
EBITDA margin: -13,3 %
Net income: -4,3 millions d'euros
Free cash flow: -1,2 millions d'euros
6,8 millions d'euros
Guidance from the release
Broadpeak confirme sa perspective de croissance soutenue du chiffre d'affaires sur la seconde moitié de l'exercice. Le Groupe vise par ailleurs un niveau d'EBITDA largement positif sur l'ensemble de l'année.
Risks mentioned
Revenue concentration: exceptional comparison base in Q2 2025 with major European Cloud PVR contract creating tough year-on-year comparisons
H1 2026 operational losses: negative EBITDA of -€2.3m and operating loss of -€5.9m require strong H2 recovery to achieve full-year targets
Opportunities identified
H2 2026 recovery: management expects strong sales momentum driven by new solutions (anti-piracy, CDNaaS, Multiview) and two significant new contracts (Simba in Brazil, Sunrise in Switzerland)
Recurring revenue growth: SaaS and Maintenance revenue expected to continue steady growth (up 8.7% in H1 2026 to €10.4m), providing more predictable revenue stream
Market recognition and innovation: Edgepeak CDN technology received CSI 2026 Award, and Multiview won European Innovation Awards, strengthening market position for 2027
Outlook / guidance
Expected revenue: 50 millions d'euros
Management commentary: À horizon 2027, Broadpeak réitère l'ensemble de ses objectifs financiers, visant un chiffre d'affaires supérieur à 50 M€, dont 50% de revenus récurrents (SaaS et Maintenance), assorti d'une marge d'EBITDA de l'ordre de 15%.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
