Gofore’s Interim Report January-March 2026: Gofore’s net sales +29.4%, organic growth also turned positive

Gofore Plc
Interim Report (Q1 and Q3)
29 April 2026 at 8.45 am EET

 

Gofore’s Interim Report January-March 2026: Gofore’s net sales +29.4%, organic growth also turned positive 

January-March 2026 

• Net sales increased by 29.4% from the previous year, organic net sales growth was 1.7%.
• Adjusted EBITA was 4.4 (3.7) million euros, 7.3% (8.0%).
• Profitability was weakened by investments in organic growth, absences at the beginning of the year, and the fact that acquisition cost synergies are not yet fully reflected.
• Change in customer prices was -0.8% (-2.4%). Change in average salary was balanced; -3.9% (+0.1%).
• The number of employees rose to 1,887 (1,469) and total capacity was 1,956 (1,527).
• On January 2, 2026, Gofore completed the acquisition of the entire share capital of Esentri AG, a German digital transformation expert company, with a debt-free price of 10 million euros.

The interim report is attached to this release and can be found on Gofore’s IR website at https://gofore.com/en/invest/. The report includes e.g. the most significant new agreements, an extensive key figure table, profit and loss statement and balance sheet, as well as Gofore’s market outlook and near-term risks. This is an IAS34 compliant interim report. The numbers are unaudited.  

Key Figures 

EUR thousand, unless otherwise specified	Q1/2026	Q1/2025	2025
Net sales	60.1	46.4	191.4
Organic Growth of Net Sales, %	1.7%	-5.7%	-4.0%
Adjusted EBITA	4.4	3.7	16.8
Adjusted EBITA, %	7.3%	8.0%	8.8%
EBITA	4.0	3.7	15.7
Operating Profit (EBIT)	2.5	2.8	11.7
Earnings per share (EPS), undiluted	0.04	0.11	0.59
Earnings per share (EPS), diluted	0.04	0.11	0.58
Number of employees at the end of period	1,887	1,469	1,791
Overall capacity; own and subcontracted personnel (FTE) at the end of period	1,956	1,527	1,462

CEO Mikael Nylund:

“The first quarter of 2026 was a record-breaking period for Gofore in terms of net sales, reaching 60 million euros. The 29% growth was primarily enabled by investments made in previous years.

Organic growth was positive and continued the turnaround that began in the latter part of 2025. Our positioning in strategic sectors is delivering results.

Adjusted EBITA increased by 18% compared to the reference period, but in relation to net sales it fell below our expectations at 7.3%. Profitability was particularly affected by ongoing integrations.

The integration of Huld and Esentri into Gofore has progressed as planned, but during the quarter, the integration work continued to significantly occupy the time of management and experts, and there were still overlapping costs in the structures. However, these effects are temporary.

We have consciously prioritised organic growth highly. This was reflected during the quarter in investments in sales and customer development. Although growth investments temporarily impact profitability, returning to the path of organic growth is essential to ensure that the long-term growth and profitability of the business are built on a sustainable foundation.

The growth was also supported by successful customer acquisition and deepening of existing partnerships. In the Digital Society sector, collaboration with the City of Espoo continues to be strong, demonstrating the value of our long-term efforts in the eyes of key public sector clients.

The DACH team achieved an important breakthrough as a federal-level agile development partner and continued as the main application development partner for the Liechtenstein State IT Agency. These successes are significant for growth both this year and in the years to come.

In our newest strategic sector, Defense & Space, we saw the most significant relative growth at the beginning of the year, both among defense industry customers and in the commercial space sector. The Intelligent Industry sector is showing good activity, depending somewhat on the customer segment.

Our number of employees has grown not only through acquisitions, but also due to the number of new starters, which has nearly doubled compared to last year. In a changing demand environment, a key challenge is to ensure that our expertise remains consistently relevant and meets the current needs of our clients.

For this reason, in addition to recruitment, we are strongly investing in the development and renewal of our skills. At the same time, we are increasing AI expertise across all our service areas.

In a weaker economic climate and prevailing uncertainty, fluctuations in customer demand within the year become more pronounced. Seasonality, or the so-called "seasonal phenomenon," continued to be evident in the early part of the year, which has been typical for the entire industry in recent years. This situation has also presented its own challenges for Gofore's advisory services, where demand has before been successfully kept quite steady.

Despite this, the overall picture is cautiously stable and clearly better than a year earlier: demand is broader, customer dialogue is more active, and our own actions are more targeted than before.”

Significant events after the review period

Gofore’s Annual General Meeting 2026 was held on 17 April 2026 in Tampere. Decisions of the Annual General Meeting and the organisation meeting of the Board of Directors can be seen in full on Gofore’s IR website (direct link below). Meeting minutes will be published on the same page latest on 30 April 2026. 

https://gofore.com/en/invest/governance/annual-general-meeting-2026/

Monthly net sales development in 2026 

The numbers are unaudited.

Month	Net sales, MEUR	LTM pro forma net sales	No. of employees at end of period	No. of working days in Finland	Own capacity FTE	Subcontracting FTE
January	18,7 (15,6)	227.9	1,892 (1,470)	20 (21)	1,767 (1,387)	180 (148)
February	19,3 (14,8)	228.3	1,889 (1,470)	20 (20)	1,765 (1,381)	185 (144)
March	22,1 (16,1)	230.0	1,887 (1,469)	22 (21)	1,775 (1,379)	181 (150)

Financial disclosure

Gofore’s next interim report will be the Half-year Report on 18 August 2026. Gofore also publishes business reviews for the months that are not included in interim reports or the half-year report, in the beginning of the month following the month reported. 

Further information:

Mikael Nylund, CEO, Gofore Plc
Tel. +358 40 540 2280
mikael.nylund@gofore.com