Coheris: Revenue Up 9% in First Half of 2026, Current Operating Margin at 23.7%

Business Revenue of €7.7M, Driven by Subscriptions and Services

In the first half of 2026, Coheris recorded business revenue (excluding intragroup cost-sharing) of €7.7 million, up 9.0% compared to the first half of 2025. Recurring revenues from subscriptions (annual licenses) reached €4.1 million, growing 15.4%, and now represent 54% of business revenue for the half-year, compared to 51% a year earlier. Service revenues increased 22.1%, to €2.7 million, or 35% of activity, driven in particular by the execution of new projects. Conversely, revenues from perpetual licenses and associated maintenance stood at €0.9 million, down 32.3%, and now account for only 11% of business revenue, compared to 18% on June 30, 2025.

Current Operating Margin at 23.7%

Current operating profit stood at €2.0 million, stable compared to the first half of 2025, corresponding to a current operating margin of 23.7%. According to the company, this result includes an increase in external purchases and services, while other expense items are under control. After accounting for financial results and a tax benefit related to the activation of tax loss carryforwards in the amount of €1.4 million, net profit came to €1.8 million, or 21.4% of revenue.

ARR of €11.3M, Up 5.7% Since the Beginning of the Fiscal Year

The stock of recurring revenues on an annualized basis (ARR) amounted to €11.3 million on June 30, 2026, compared to €10.7 million on December 31, 2025, representing growth of 5.7% since the beginning of the fiscal year. This indicator illustrates the continued shift of the business model toward subscription revenues, which offset the expected decline in perpetual licenses. The group's next disclosure will cover full-year 2026 revenue, scheduled for February 3, 2027 after market close.