TBSO: Revenue of €1.45M in First Half 2026, Cash Position Increased to €8.2M
TBSO published on September 30, 2026 its results for the first half of 2026, the first accounts incorporating the business transformation initiated following the change of control in November 2025. The group combines accelerating revenue with strengthened cash position supported by a capital increase, while postponing the achievement of operational break-even beyond 2026.
This publication was not subject to a limited review by the statutory auditors, as the company has initiated the process of appointing new auditors.
Revenue of €1.45M and 972 Members on the SKL Platform
During the first half of 2026, TBSO recorded €1.45M in revenue, compared to €0.1M for the full 2025 fiscal year. The company notes that no period-over-period comparative data is presented due to the business transformation that occurred following the change of control in November 2025.
The SKL platform, dedicated to entrepreneurs, had 972 members as of June 30, 2026, compared to 719 at December 31, 2025, representing growth of 35% over six months. The threshold of 1,000 members was crossed during July.
As of June 30, 2026, deferred revenue amounted to €2.4M. Of this amount, approximately €1.25M will be recognized as revenue in the second half of 2026 and the remainder, approximately €1.17M, from 2027 onwards.
Operating Loss and Net Loss of €0.9M, Cash Position Increased to €8.2M
Operating loss stands at €0.9M as of June 30, 2026, which the company attributes to the development and structuring phase in which the group is operating. Net loss also amounts to €0.9M for the period.
Available cash stands at approximately €8.2M as of June 30, 2026, compared to €1.8M at December 31, 2025. This increase is primarily explained by the net proceeds of the capital increase completed in June 2026 (€7.8M) from approximately 3,000 new investors, combined with net cash consumption related to operations and investments of €1.5M.
Shareholders' equity amounted to €5.6M as of June 30, 2026.
Target of Over €5M Pro Forma Revenue in 2026 and Operating Break-Even Postponed
TBSO confirms its target of pro forma revenue exceeding €5M in 2026, based on commercial momentum and the scheduled integration of NVST by year-end. Work related to this integration is progressing as planned according to the company.
In parallel, the commitment to continue investments leads the group to postpone the achievement of operational break-even beyond 2026. Looking ahead to 2028, TBSO maintains its targets of revenue exceeding €10M and operating margin exceeding 20%.
On the operational front, the first half was marked by the development of the first version of Kate, the artificial intelligence assistant intended for entrepreneurs and executives of SMEs and small-to-medium enterprises that are SKL clients.
