Ailleron Group: Strong Start to the Year – Stable Revenue and Margins in Q1 2026

In Q1 2026, Ailleron Group reported stable sales revenue of PLN 140.7 million. Net profit reached PLN 13.9 million, representing an increase of PLN 9.3 million year-over-year, driven in part by the elimination of the negative, non-cash impact of FX differences recorded in Q1 2025.

EBITDA amounted to PLN 19.2 million, confirming solid operational performance despite a challenging market environment. Net margin improved to 9.9% versus 3.2% in the prior year, an increase of 6.7 percentage points and the highest first-quarter margin in the Group’s history.

We continue to maintain stable revenues and operating margins while generating strong cash flows. At the same time, we consistently execute on cost discipline, supporting improvements in operational efficiency. We delivered solid results in a demanding market and FX environment, strengthening the foundation for future growth.

Technology Services Segment: The Core Growth Driver

The Technology Services segment remains the Group’s key business area, accounting for over 88% of total revenue. In Q1 2026, it generated PLN 124.3 million in sales with a stable profitability level. Segment EBITDA amounted to approximately PLN 16.8 million.

Strong improvement in profitability in the FinTech segment

A key contributor to overall performance improvement was the clear profitability increase in the FinTech segment. The segment delivered positive EBITDA of approximately PLN 2.2 million compared to slightly negative EBITDA in the prior year (–PLN 0.1 million), marking an improvement of over PLN 2.3 million year-over-year. At the EBIT level, the segment approached break-even, significantly reducing its operating loss.

This improvement was driven by consistent cost discipline implemented in 2025 and a growing share of recurring revenue (ARR), particularly SaaS revenues generated by the LiveBank platform. The increasing contribution of subscription-based revenues stabilizes segment performance and enhances predictability.

The Group is also expanding internationally in this area, strengthening relationships with key clients, including one of the largest banks in the Americas. Ailleron continues to develop its key products in SaaS and cloud models. In the leasing segment, the company implemented its LeaseTech Offer Manager solution at Millennium Leasing (Proof of Concept). After three months, 47% of applications were submitted via the new platform, exceeding 60% by April 2026. The process proved more than twice as fast as traditional methods, with 58% of customers using mobile identity verification (mObywatel). The product also saw increased market interest following its presentation at the eLeasing Day 8.0 conference.

We observe growing demand for modern, scalable solutions supporting the digitalization of financial services. The development of the SaaS model, including the LiveBank platform, translates into a higher share of recurring revenues and improved business quality. At the same time, supported by a stable client base and strong technological capabilities, we are consistently strengthening Ailleron’s position as a global provider of solutions for the financial sector.

Strong cash flows and stable financial position

The Ailleron Group significantly improved its cash generation. Operating cash flow reached PLN 12.1 million (vs. PLN 6.3 million a year earlier), while cash on hand at the end of March stood at PLN 99.4 million.

At the same time, the Group reduced its financial debt, maintaining a safe and stable financing structure. Equity increased to PLN 328.8 million, reflecting improved performance and a solid balance sheet position.

Performance at the standalone level also improved. Ailleron S.A. increased revenue to PLN 15.7 million (+2% YoY) and significantly reduced its net loss to PLN 0.6 million compared to PLN 3.1 million a year earlier.

Strategic and organizational activities

In the first quarter of 2026, the Group established FlexSpace, a wholly owned subsidiary, further streamlining its organizational structure. At the same time, the process of selling shares in Software Mind was suspended due to market conditions, while no material risks were identified during the due diligence process. The Group also did not observe any significant impact of geopolitical factors on its operations or financial performance.

Zusammenfassung - KMP vs Flutter

The Ailleron Group’s Q1 2026 results demonstrate stable revenue combined with a significant improvement in net profitability, supported by strong cash flows and a growing cash position.

Key drivers of performance include improved financial efficiency, SaaS model expansion, and a marked recovery in the FinTech segment. The Group maintains a solid financial position, confirmed by strong cash generation and a stable balance sheet structure, while consistently executing its strategy focused on technology services growth, international expansion, and further improvements in operational and financial efficiency.

Key highlights of Ailleron Group’s Q1 2026 results:

• The Ailleron Group generated revenues of PLN 140.7 million in Q1 2026, maintaining them at a stable level (–2% year-on-year).
• Net profit amounted to PLN 13.9 million, representing an increase of over PLN 9.3 million year-on-year.
• At the operating level, the Group reported EBIT of PLN 13.4 million and EBITDA of PLN 19.2 million, confirming stable operating performance despite a challenging market environment and cost pressures.
• The Group generated strong operating cash flows of PLN 12.1 million, nearly doubling year-on-year.
• The cash position increased to PLN 99.4 million, providing strong liquidity and financial flexibility to support further growth.
• The Technology Services segment remained the primary source of revenue, generating PLN 124.3 million and accounting for the majority of the Group’s activity, while the FinTech segment recorded PLN 15.8 million in revenue.
• The FinTech segment delivered a significant improvement in profitability, achieving positive EBITDA of approximately PLN 2.2 million compared to a negative result in the prior year. This improvement was driven by cost discipline and a higher share of recurring SaaS revenues, particularly from the LiveBank platform.
• The growing share of SaaS and ARR revenues (LiveBank) enhances the quality of the Group’s revenue base, improving predictability and reducing volatility in the FinTech segment.
• International sales exceeded PLN 100 million and accounted for more than 70% of total revenues, confirming the Group’s strong global exposure.
• Equity increased to PLN 328.8 million, while the Group maintained a safe debt level and a stable financing structure.
• At the standalone level, Ailleron S.A. increased revenues to PLN 15.7 million (+2% year-on-year) and significantly reduced its net loss to PLN 0.6 million (vs. PLN 3.1 million a year earlier).
• In Q1 2026, the Group continued its strategic initiatives, including streamlining its organizational structure and adjusting plans regarding Software Mind to current market conditions.

More information: https://ailleron.com/investors/

Ailleron S.A. is a capital group listed on the Warsaw Stock Exchange. Its subsidiary, Software Mind, provides software development services to innovative companies in Western Europe and the United States (including Silicon Valley), as well as, under the Amplitiv brand, to the telecommunications industry. Software Mind is being developed jointly with Enterprise Investors, one of the largest private equity funds in Central and Eastern Europe.

Ailleron focuses on comprehensive software development services for banks, leasing companies, fintechs, and other financial institutions, primarily across Europe and Southeast Asia. The company develops innovative IT solutions based on cloud technologies and artificial intelligence. Its client portfolio includes banks such as Santander, Citibank, BNP Paribas, and Standard Chartered.

The Ailleron Group serves over 200 clients in 40 countries and employs more than 1,800 specialists across Europe, the United States, and South America. Nearly 78% of the Group’s revenues are generated in international markets.