Vogo: Revenue up 15% in first half, net loss cut in half
Vogo published on October 15, 2026 half-yearly results combining a 15% increase in revenue, to €6.1m, and a net loss reduced to €1.0m, compared with €2.0m a year earlier. Over the same period, EBITDA fell from €377k to €16k, with operating expenses rising 17%, a pace faster than sales growth.
The reduction in net loss is primarily supported by two lines below EBITDA: lower depreciation and provisions, and financial results close to equilibrium. The Montpellier-based specialist in audio and video solutions for sport also announced third-quarter revenue up 15.0%, to €3.9m, and confirmed its growth outlook for 2026.
TaaS model represents 29% of half-year sales
In the first half of 2026, the Sport segment generated €4.9m in revenue, up 10%. The Industry segment, driven by Vokkero audio solutions, reached €1.2m, up 36%. Growth was more marked in the second quarter (+16%) than in the first (+13%).
Revenue from the TaaS (Technology as a Service) model amounted to €1.8m, up 39%. Its share of total revenue rose from 24% to 29% year-on-year. Within the Sport division, this contribution reaches 35%, compared with 28% in the first half of 2025.
The half-year was also marked by the signing of a six-year contract with the National Rugby League. It brings together all Vogo solutions in decision support, notably refereeing and concussion protocol.
EBITDA at €16k, net loss reduced to €1.0m
Operating revenue rose 28%, to €7.2m, while operating expenses increased 17%, to €8.4m. The company attributes this increase to business growth and planned rollouts for major championships and upcoming sporting events, which result in a €1.3m increase in consumables purchases. Personnel costs rose €0.4m, to €3.5m, and external charges by 14%, to €1.8m.
This results in EBITDA of €16k, compared with €377k a year earlier. Operating profit stands at -€1.1m, compared with -€1.5m, after depreciation and provisions of €1.1m, compared with nearly €1.5m in the first half of 2025. Financial results come in at -€31k, compared with -€623k, benefiting notably from a favorable exchange rate effect.
On the balance sheet side, Vogo repaid €2.5m in bank loans during the half-year. Financial debt stands at €6.9m as of June 30, 2026, compared with €8.2m as of December 31, 2025. Equity amounts to €8.5m, compared with €9.6m six months earlier.
Third quarter up 15% and TaaS outstanding of €11.3m
In the third quarter of 2026, consolidated revenue reached €3.9m, up 15.0%. Sport activity increased 9.5% and Industry activity 51.6%. TaaS revenue reached €0.9m (+41.2%), representing 22.3% of consolidated revenue, compared with 18.2% a year earlier.
Geographically, the Americas zone, which accounts for 23% of activity, grew 50.8%, and the EMEA zone, which represents 65%, grew 14.8%. The company indicates it has secured orders in the United States for the second half and anticipates growth in the Americas zone over the full year.
As a reminder, in the annual results published on April 16, 2026, the group had reported revenue of €11.2m and a net loss of €2.56m for 2025. Vogo confirmed its growth outlook for 2026, based on TaaS outstanding of €11.3m as of end of June 2026.
