Exail Technologies: Revenue Up 16% in Third Quarter, Order Book Declines
Exail Technologies reported on October 14, 2026 revenue of €121 million for the third quarter, compared to €105 million a year earlier. The increase reaches 16% on a reported basis and 21% on a comparable basis, following the disposal of the Automation business. Order intake for the quarter also grew, from €85 million to €97 million.
The nine-month perspective presents a different picture. Cumulative order intake stands at €325 million, compared to €697 million over the same period in 2025, a base that included a €400 million contract signed in the first quarter of 2025. The order book stands at €1,001 million at the end of September 2026, compared to €1,081 million a year earlier.
Quarterly Revenue of €121 Million, Driven by Maritime Robotics
The Navigation & Maritime Robotics segment represents the bulk of activity. Its revenue reached €99 million in the third quarter, up 24% compared to the same period in 2025. The group attributes this to the continued ramp-up of major maritime robotics programs and demand for inertial navigation systems.
According to the press release, industrial capacities deployed over recent quarters enable the company to support higher volumes, particularly for series products. Over nine months, segment revenues amount to €326 million, up 30%.
The Advanced Technologies segment generated €26 million in revenue for the quarter. The 7% decline on a current scope basis results from the disposal of the Automation business, completed in early May 2026, which had generated €13 million in revenue during the 2025 fiscal year. On a comparable basis, growth is 12%, primarily driven by photonics (specialty optical fibers, modulation solutions, lasers, quantum instruments). Aerospace equipment shows more moderate performance.
Nine-Month Order Intake of €325 Million Versus €697 Million a Year Earlier
In the third quarter, order intake grew 15%, to €97 million. The Navigation & Maritime Robotics segment recorded €74 million in external orders, up 6%, overwhelmingly comprised of navigation systems. The Advanced Technologies segment totals €23 million, growing 68% on a comparable basis, while aerospace equipment orders remain relatively stable.
The nine-month cumulative declines 53%, to €325 million. The group primarily attributes this decline to the notification calendar for major maritime robotics programs, whose contribution can vary significantly from one period to another. The comparison base included the €400 million contract signed in the first quarter of 2025.
The published figures show the impact of this timing difference on the order book. Over nine months, order intake (€325 million) falls short of invoiced revenue (€396 million), and the order book stands at €1,001 million at the end of September 2026, down 7% year-over-year. It remains above the €1 billion threshold that the group highlighted when publishing its first-half results.
Double-Digit Growth Target for 2026 Confirmed
Exail Technologies confirmed its target of double-digit revenue growth in 2026, as well as an increase in current EBITDA higher than revenue growth. The group achieved nearly €479 million in revenue during the 2025 fiscal year, according to its annual accounts published on April 7, 2026. For the 2026 fiscal year, analysts anticipate an average revenue of €570 million.
On the commercial front, the group reports several major tenders underway in mine countermeasures and a substantial commercial portfolio in its other activities, notably with opportunities in the United States and Asia. Regarding the proposed combination with Thales, the company refers to the elements presented in its half-year results press release published on October 9, 2026.
After the first nine months, revenue reached €396 million, with organic growth of 25%, for an order book of €1,001 million.
