Banqup Group reports 43,0% YoY subscription revenue growth in 9M 2026
La Hulpe, Belgium – 12 November 2026, 7:00 a.m. CET – REGULATED INFORMATION – INSIDE INFORMATION – Banqup Group SA (Euronext: BANQ) (Banqup, Company), a European fintech provider that simplifies financial flows through an innovative secured platform for e-invoicing, e-payment, e-reporting and e-trust solutions with built-in compliance at its core, publishes its business update for the first nine months of 2026.
Key Highlights
- Continued growth in Annual Recurring Digital Revenue (ARR): ARR reached €44.4 million as of September 2026, representing like-for-like year-on-year growth of 19.3% compared with September 2025. This performance primarily reflects the strong momentum in the Belgian e-invoicing market.
- Strong growth in subscription revenues: Subscription revenue increased by 43.0% year-on-year to €11.6 million for the first nine months of 2026, compared with €8.1 million in the same period of 2025. This growth was driven by the accelerating adoption of e-invoicing and the increasing contribution of recurring digital services.
- Balkan entities classified as discontinued operations: Following the intended divestment of the Balkan entities, announced today in a separate press release, and in accordance with IFRS 5, these entities are classified as discontinued operations as of September 2026. The comparative figures for September 2025 have been restated accordingly.
- Continued execution of the Value Creation Plan: Group Management continues to implement its Value Creation Plan, with a focus on further cost optimisation and improving operational efficiency across the organisation. The savings targeted for the full year 2027 are expected to represent between 15% and 20% of the current cost base, while maintaining a growth-oriented business model, which will be driven in the coming year amongst other by the further development of the French e-invoicing market.
- Document Business unit:- Following the first wave of SME customer onboarding in the French market, the Group has now reached approximately 200,000 customers, providing a solid foundation for further market penetration and the development of recurring digital revenues.
- Payments Business unit: The updated strategic plan, which broadens the go-to-market approach beyond the traditional customer base generated by the Group's document business, is already delivering encouraging results. This is reflected in growth in both top-line revenue and the volume of client funds attracted, demonstrating the potential of a more diversified commercial approach.
Commenting on the YTD Q3 2026 results, Koen De Brabander, CEO of Banqup Group, stated: "Our third-quarter performance confirms the commercial strength and recurring quality of our platform. We are sharpening our go-to-market approach and putting customer excellence at the heart of everything we do, as the foundation for sustainable revenue growth. At the same time, we are resetting the Group’s cost structure to match the scale and potential of our business, with a clear path to profitability. Migrating our legacy platforms onto the Banqup platform, which has proven its stability and scalability, is a key lever in this: it simplifies our operations, lowers our cost base and gives every customer the benefit of a single, modern platform.
Continuing operations1
| Thousands of Euro | 9M 2026 | 9M 2025 | Change (%) |
| Group revenue and income from client money | 34.050 | 30.781 | +10,6% |
| Digital revenue | 31.199 | 26.815 | +16,3% |
| Subscription | 11.566 | 8.087 | +43,0% |
| Transaction | 12.322 | 11.724 | +5,1% |
| Of which income from client money | 1.193 | 994 | +20,0% |
| Other | 7.310 | 7.004 | +4,4% |
| Traditional communication revenue | 2.851 | 3.965 | -28,1% |
| Digital gross profit (incl. net income from client money) | 18.915 | 16.182 | +16,9% |
| Digital gross margin | 60,6% | 60,3% | +0,3%pts |
| Annual Recurring Digital Revenue | 44.408 | 37.233 | +19,3% |
Guidance
[INSIDE INFORMATION] The Company updates its guidance for Annual Recurring Digital Revenue (ARR) growth to approximately 20% by year-end, in line with current trading. This revision primarily reflects a reassessment of OCR services involving human intervention (“Human-in-the-Loop”), which, in certain markets, will no longer be offered due to their limited contribution margins. This decision is consistent with the Group’s strategic focus on improving the quality of its revenue base, prioritising higher-margin recurring digital services and strengthening its path towards sustainable profitability.
Given the change in the scope of the continuing activities, the Company withdraws its guidance of an adjusted EBITDA margin of approximately 3% of revenue.
Financial Calendar
25 February 2027: Publication of the FY 2026 Financial results (webcast)
20 April 2027: Publication of 2026 Annual Report
Contact
David Geleyn
Investor Relations - Banqup Group
investor.relations@banqup.com
About Banqup Group
Banqup Group empowers businesses to thrive by simplifying financial flows through an innovative, secure all-in-one platform for e-invoicing, e-payment, e-reporting, and e-trust solutions with built-in compliance at its core. Headquartered in Belgium and listed on Euronext Brussels (BANQ), the group has pioneered digital transformation since 2001. Today, as a specialized European fintech provider, Banqup links companies, accounting networks, banks, ERP systems, and tax authorities to turn administrative complexity into a frictionless, connected trade ecosystem. To learn more about Banqup Group and our software solutions, please visit our website: Banqup Group.
Cautionary note regarding forward-looking statements: The statements contained herein may include prospects, statements of future expectations, opinions, and other forward-looking statements in relation to the expected future performance of Banqup Group and the markets in which it is active. Such forward-looking statements are based on management's current views and assumptions regarding future events. By nature, they involve known and unknown risks, uncertainties, and other factors that appear justified at the time at which they are made but may not turn out to be accurate. Actual results, performance or events may, therefore, differ materially from those expressed or implied in such forward-looking statements. Except as required by applicable law, Banqup Group does not undertake any obligation to update, clarify or correct any forward-looking statements contained in this press release in light of new information, future events or otherwise and disclaims any liability in respect hereto. The reader is cautioned not to place undue reliance on forward-looking statements.
1 Excludes discontinued operations in 2026 from the print business in Belgium, the Baltic operations, and the Balkan entities. Client money is considered as an integral component of our business model and is presented as part of our operations business flows.
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