Option Returns to Positive EBITDA in First Half 2026, Revenue Up 9%
Belgian technology group Option released its first-half 2026 results on September 17, 2026, marked by a return to positive EBITDA and revenue growth.
Meanwhile, the board of directors decided on a capital increase of approximately 2 million euros, subscribed by reference shareholders, intended to support growth and strengthen the balance sheet.
Revenue Up 9% and EBITDA Back in Positive Territory
For the first half of 2026, Option recorded revenue of 4.698 million euros, compared to 4.310 million euros a year earlier, representing a 9% increase.
EBITDA stood at 34,000 euros, compared to a loss of 330,000 euros in the first half of 2025. Operating profit came in at a loss of 332,000 euros, compared to a loss of 774,000 euros a year earlier.
Net loss amounts to 509,000 euros, compared to 1.584 million euros in the first half of 2025, a period that included a discontinued operations result (Remoticom) of 608,000 euros.
Option IoT Grows 52%, Innolumis Down 16%
Performance is primarily driven by the Option entity, whose revenue increased 52%, to 1.836 million euros compared to 1.207 million euros a year earlier, supported by sales of the existing Cloudgate product line. Its EBITDA improved, moving from a loss of 364,000 euros to a loss of 5,000 euros.
The SAIT entity saw its revenue grow by nearly 5%, to 1.334 million euros, with EBITDA of 109,000 euros compared to 276,000 euros, with the company citing the deferral of more profitable projects to the second half.
The Innolumis entity recorded revenue of 1.528 million euros, down 16%, due to the sale of a lower number of luminaires, with EBITDA of 237,000 euros compared to 278,000 euros, with the company indicating that margins remained favorable.
Cloudgate Nexus Launch in the United States and IoT Growth Target of Over 50%
For the second half, Option anticipates that the Option entity will contribute to continued revenue and profitability growth, thanks to expected sales of new Cloudgate Nexus and Cloudgate Probe products.
Production of the Cloudgate Nexus was launched in the United States in September 2026, with first sales expected in the final quarter. The company believes the American market can provide a significant contribution to revenue in the short term.
The group indicates it is banking on continued growth in Option IoT division revenue of at least 50%. Regarding its financial structure, net financial debt stood at 948,000 euros as of June 30, 2026, compared to 900,000 euros at December 31, 2025, while total equity reached 169,000 euros, compared to 681,000 euros at the end of 2025. Total debt to related parties, primarily Van Zele Holding NV, amounts to 3.135 million euros, up 1.543 million euros in the first half of 2026.
