PRESS RELEASE – REGULATED INFORMATION
Cambridge (UK), 22 July 2026 (18.00 CEST): Hybrid Software Group PLC (Euronext: HYSG) announces it has published its half year report and unaudited condensed consolidated interim financial statements for the six months ended 30 June 2026.
The full document is available to download from the financial reports section of the Company’s web site at https://hybridsoftware.com/investors/financial-reports.
Mike Rottenborn, Hybrid Software Group CEO comments, “Hybrid Software Group delivered a resilient performance in the first half of 2026 against a demanding economic backdrop and a stronger euro. Revenue was €26.41 million, essentially in line with the €26.59 million reported for the first half of 2025 (‑0.7% reported); at constant exchange rates it would have been €27.15 million, or +2.1% year over year. Our Enterprise Software segment which serves the packaging market grew revenue by 14.6% over H1 2025. Printhead Solutions revenue was up by 2.5% and operating profits were 46% higher than last year.
Printing Software segment revenue was 29.1% lower than in H1 2025. The comparison is a demanding one: the prior period included €1.79 million of licence revenue from a customer contract extension that did not recur this half. The underlying franchise, however, continues to build. Mako Apex, the GPU-accelerated variant of our Mako software launched last year, is now driving new OEM contracts, and royalties from digital presses that incorporate the Harlequin RIP and/or SmartDFE, our patented Digital Front End software, continue to grow. We signed two major OEM deals which will be announced publicly once their new digital presses are ready to ship, and will accrue revenue on a royalty basis once these shipments begin.
Reported profitability stepped down from 2025: we posted an operating loss of €0.78 million and a pre-tax loss of €0.51 million (H1 2025: operating profit €2.21 million and pre-tax profit €1.42 million). On an adjusted basis the business remained solidly profitable, delivering €1.66 million of adjusted operating profit and €1.81 million of adjusted net profit. Cash strengthened from €14.46 million at 31 December 2025 to €14.77 million at 30 June 2026, after making €3.33 million of principal loan repayments during the period.
We have continued to invest heavily in R&D and in scaling our organisation as we execute on our plan to be the dominant software supplier both to printers of labels and packaging and to the manufacturers who build the digital presses used by those printers. Our headcount has grown to 325 people worldwide, up from 280 a year ago. This is a deliberate investment cycle: costs are under control and we remain well-positioned to benefit from any easing of interest rates and from a resumption of capital-goods investment by our customers.
In September we look forward to two leading industry trade shows in the United States: Loupe Americas and Printing United. Barring a material impact from US tariffs or a further weakening of the US dollar and the British pound against the euro, the Board remains confident in the Group's prospects for the remainder of the year and expects a stronger second-half performance."
Financial highlights (unaudited)
For the six months ended 30 June | ||
| In thousands of euros | 2026 (unaudited) | 2025 (unaudited) |
| Revenue | 26,411 | 26,592 |
| Operating (loss) / profit | (782) | 2,210 |
| (Loss) / Profit before tax | (511) | 1,415 |
| Tax credit | 124 | 223 |
| (Loss) / Profit for the period | (387) | 1,638 |
| EBITDA from continuing operations | 3,928 | 5,431 |
| Adjusted operating profit | 1,662 | 3,953 |
| Adjusted net profit | 1,809 | 3,189 |
| Cash and cash equivalents | 14,768 | 11,159 |
| Loans & borrowings | (536) | (4,400) |
| Net cash | 14,232 | 6,759 |
About Hybrid Software Group
Hybrid Software Group PLC, headquartered in Cambridge, UK and listed on Euronext Brussels (ticker: HYSG) is a leading developer of software and electronics for labels & packaging and industrial print manufacturing. Customers include consumer packaged goods companies, prepress service agencies, labels & packaging converters, commercial printers and original equipment manufacturers worldwide.
Its subsidiaries include the labels & packaging artwork management & prepress software developer HYBRID Software, colour technology expert ColorLogic, printing software developer Hybrid Software Helix, industrial printhead driver solutions specialist Meteor Inkjet, pre-press workflow developer Xitron and integration specialist Conics.
Contacts
| Floris De Ruyck | Joachim Van Hemelen |
| Legal Counsel & Investor Relations Officer | Chief Financial Officer |
| Tel: +32 (0) 9 329 57 53 | Tel: +32 (0) 9 329 57 53 |
| Email: florisdr@hybridsoftware.group | Email: joachimvh@hybridsoftware.group |