Fill Up Média: Revenue Up 37% and Net Loss Reduced in First Half of 2026
Fill Up Média published its results for the first half of 2026, ended June 30, on September 24, 2026.
Beyond revenue growth, the publication highlights an improvement in operating profitability and a reduction in net loss, at a time when the company says it is transitioning from a network deployment phase to an optimization and monetization phase.
Revenue of €10.5 Million and Adjusted EBITDA of €1.5 Million
The digital audio display operator installed on fuel dispensers achieved revenue of €10.5 million in the first half of 2026, up 37% compared to €7.7 million in the first half of 2025.
Adjusted EBITDA stands at €1.5 million, compared to €0.9 million a year earlier, an increase of €0.6 million. The adjusted EBITDA margin rate rose from 11% in the first half of 2025 to 14%, a gain of 3 percentage points.
Operating income came in at €56 thousand, compared to a loss of €571 thousand a year earlier. Net loss decreased to €0.4 million, compared to €0.8 million. Financial result stands at −€0.5 million, a level close to that of the previous year, which the company attributes to the full-year effect of loans contracted during 2025.
Operating Leverage Effect and Weight of Local Advertisers
The company links the improvement in profitability to the gap between revenue growth and that of expenses. Operating expenses came to €9.2 million, compared to €7.2 million in the first half of 2025, an increase of €2.0 million (+27%), lower than the 37% revenue growth.
Personnel expenses rose from €3.0 million to €3.8 million (+27%), and the group indicates it does not plan additional recruitment. According to Chief Executive Officer Manuel Berland, this commercial momentum makes it possible to "better absorb" fixed costs.
On the commercial side, local advertisers account for 74% of half-year revenue, while the national and regional segment represents 26%, up 6 percentage points compared to the first half of 2025. The full-year contribution of the E.Leclerc network, whose deployment was completed at the end of 2025, is now fueling operations.
2026 Targets Confirmed Between €23 and €26 Million in Revenue
Fill Up Média confirms its 2026 financial targets: annual revenue between €23 and €26 million and an adjusted EBITDA margin between €4.6 and €6 million.
The company indicates it expects a continued progression of its profitability indicators in the second half, which it describes as historically stronger than the first. As a reference point, it achieved revenue of €16.4 million for the full 2025 fiscal year.
Beyond 2026, the group reaffirms its intention to deploy its solution on a European scale from 2027 onwards, targeting Germany, the Benelux and Spain as priorities. The next financial milestone concerns 2026 revenue, expected in January 2027.
