Qwamplify: Operating loss in red for first half, net cash +30%
Qwamplify published on September 15, 2026 its unaudited results for the first half of 2026, marked by a shift into negative territory of its operating profit.
The digital marketing group, which has deconsolidated several activities since mid-2025, highlights a strengthening of its net cash position and a cost-saving plan aimed at returning its gross operating profit to positive territory in the second half.
Gross margin down 21%, operating result at -0.5 M€
The published gross margin decreased by 2.1 M€, representing a decline of 21% (and 6.7% on a comparable basis). This decline was not offset by the reduction in charges, which led to a gross operating profit (EBE) of -407 K€, compared with +834 K€ one year earlier.
Operating profit came in at -508 K€, compared with +611 K€ in the first half of 2025, representing -6.4% of gross margin. Group net profit reached -373 K€, or -4.7% of gross margin, representing a net loss per share of -0.066 €.
These developments occurred following the disposal of all Nordic subsidiaries on July 1, 2025 and the Qwamplify Pro activity on January 1, 2026, activities deconsolidated from the first half 2026 figures whereas they were included one year earlier.
Restructuring and accelerated depreciation weigh on costs
The payroll decreased by 1,349 K€, an evolution mainly linked to the change in scope. Other income declined by 294 K€.
Other indirect costs and depreciation are affected by restructuring costs and the acceleration of depreciation of the Asteria (Shopper) platform, a new version of which is scheduled to go into production in October.
Financial profit increased to 134 K€, driven by higher cash balances, optimization of investments and a decline in long-term debt costs, the latter falling by 27%. On the liquidity front, net cash flows for the first half reached 5.1 M€ (+33%), supported notably by 2.8 M€ related to customer collections and by the repayment of 0.8 M€ of a tax advance. Cash reserves increased by 1.8 M€ (+25%) to 9.1 M€ and net cash stood at 8.7 M€, up 30% since December 31, 2025.
EBE expected to return to positive in second half
Qwamplify anticipates a stable second half in terms of activity, with a return to growth expected in the fourth quarter. The group reported a cost-saving plan of 1 M€ on an annual basis, achieved during the second quarter.
According to the company, EBE should return to positive in the second half. Cédric Reny, CEO and founder, stated: "The decline in gross margin did not allow us to absorb all the charges in the first half. We are now taking a more technological turn by relying more on our historical expertise."
Within this half, the second quarter 2026 had been marked by an increase in revenue of 7.2%, according to activity indicators published by the group on August 25, 2026. The next activity update, covering revenue and gross margin for the third quarter 2026, is scheduled for October 20, 2026.
