EarningsQ2 2026 Earnings Report
BGPBF Q2 2026 EPS Results
Actual EPS>-$0.01
Consensus EPS$0.26
Beat/MissMissed by -$0.27
One Year Ago EPS$0.20
BGPBF Q2 2026 Revenue Results
Actual Revenue$76.75M
Expected Revenue$71.17M
Beat/MissBeat by +$5.58M
YoY Revenue Growth+6.51%
Earnings Announcement Details
QuarterQ2 2026
Date08/14/2026
TimeBefore Open
Conference CallFriday, August 14, 2026
BGPBF Upcoming Earnings
BTS Group AB's next earnings date is estimated for November 6, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
BGPBF Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed solid operational momentum: group revenue (+9%) and EBITA (+13%) growth, a clear North America recovery, exceptional Europe performance, rapid AI-driven revenue expansion (AI now 10% of revenue and +221% YoY), and meaningful productivity gains (SEK 74m). Management raised guidance and highlighted strong cash conversion and a capital-light model. Key negatives are concentrated: Other Markets (Asia Pacific) underperformance with profit down 26% and margin deterioration, short-term one-off costs and severance related to restructuring and acquisitions, and an expected rise in AI token costs next year that will need to be offset by efficiency gains. On balance, positive operational trends and the sizable AI revenue opportunity outweigh the localized/short-term challenges.Company Guidance
Group top-line and profit growth
Revenue grew 9% (currency adjusted) in Q2 and EBITA increased 13% year-over-year, with EBITA margin improving from 11.7% to 12.3% (up 0.6 percentage points). Management raised the full-year outlook to be significantly better than 2025 on the back of first-half momentum.
North America turnaround
BTS North America returned to double-digit organic revenue growth and strong profitability. EBITDA margin recovered to 37.5% for the unit. Management expects continued momentum in H2. One-off actions (a $400,000 in-quarter severance and other restructuring) should make the business more profit-accretive going forward.
Outstanding performance in Europe
BTS Europe delivered 25% revenue growth and a 38% increase in profit in Q2, with an improved EBITDA margin of 16.2%. All offices except one recorded double-digit growth, driven by demand in defense and manufacturing and larger-than-expected growth on smaller deals.
Rapid AI revenue expansion
Direct AI-related revenue reached SEK 76 million in Q2, representing 10% of total revenue, and grew 221% year-over-year. AI is being recorded as revenue (not just bookings) as it becomes a material part of the business.
Productivity gains from AI
The company reported SEK 74 million in productivity gains attributable to AI innovation and change implementation, and expects further operational efficiencies from a new platform launching in the second half of the year.
Strong cash and capital-light model
BTS reported an 84% cash conversion rate over the last 12 months and maintains a strong net cash position. Historical track record since IPO: ~12% revenue CAGR with ~2/3 organic growth, enabling acquisitions without raising shareholder capital.
Client demand and win rates
Management highlighted strengthening client demand in energy, financial services and healthcare, robust win rates, and large enterprise clients (including AI-native companies like Anthropic) validating BTS' differentiated people-and-change AI positioning.
Balance toward billable consultants
While total employee count declined for the fifth consecutive quarter, BTS reported an increase in billable consultants and is actively hiring billable staff to support revenue growth; back-end headcount reductions are targeted to improve operating leverage.
BGPBF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed