Company Announcement no. 16/2026 (October 29, 2026)
In Q3 2026, Konsolidator signed 16 new customers, bringing the total contracted Annual recurring revenue (CARR) to DKK 26.8m at the end of September 2026. CARR increased 18% year-on-year, net retention improved to 98 from 91, and ARR churn was improved to 9.8%. Partners and Konsolidator Iberia accounted for 80% of new sales and delivered above expectations, while new sales in Denmark were below expectations.
Q3 2026 key metrics:
CARR in Q3 2026 increased by 18% compared to Q3 2025. During the quarter, Konsolidator recorded new sales of DKK 1.1m, with Konsolidator Iberia and partners contributing positively. EBITDA amounted to DKK 0.3m, compared to DKK 1.4m in Q3 2025*. Revenue increased to DKK 7.3m, 19% higher than Q3 2025.
| DKK | Q3 2026 | YTD 2026 | Q3 2025 | YTD 2025 | Growth YTD |
| Contracted Annual Recurring Revenue (CARR) | - | 26.8m | - | 22.8m | 18% |
| Revenue | 7.3m | 21.6m | 6.1m | 18.4 | 17% |
| Earnings Before Interests, Taxes, Depreciation, and Amortization*(EBITDA) | 0.3m | (0.3)m | 1.4m* | (0.8)m | +0.5M |
*The EBITDA for Q3 2025 is affected by other operating income of DKK 2m
Q3 2026 SaaS metrics
Konsolidator's SaaS metrics continued to improve:
- In Q3 2026, Contracted ARR (CARR) the total CARR amounted to DKK 26.8m, an increase of 18% compared to September 30, 2025.
- Rule of 40 of 16%, an improvement of 8 percentage points compared to Q3 2025
- The CAC Payback Period was 21 months for Q3 2026 compared to 22 months in Q3 2025.
- On September 30, 2026, the ARR Churn Rate was 9.8% compared to 11.9% on September 30, 2025. The ARR Churn Rate is expected to improve further in Q4 2026.
- The net retention summarized to 98 on September 30, 2026, compared to 91 on September 30, 2025.
Liquidity was adversely affected by lower sales in Denmark, where customer contracts typically generate upfront payments for onboarding and subscriptions. The benefits from the refinancing will begin to materialize in Q4 2026 and are expected to reach their full effect in Q4 2027.
Commercial and operational Q3 2026 highlights:
In Q3 2026, partners and Konsolidator Iberia accounted for 80% of new sales. As reported in H1 2026, longer customer decision-making processes delayed new sales signings in Q2. The signing of 16 new customers in the quarter, primarily in Iberia, supports the assessment that several opportunities were postponed rather than lost.
Highlights:
- 16 new customers, 13 of them from partners and Konsolidator Iberia.
- Free cash flow (FCF) for the last 12 months was positive by DKK 0.1m compared to a negative FCF of 4.1m for the 12 months before.
- Negative equity as of 30 September 2026 of DKK 7.1m for the Group, and for Konsolidator A/S, negative equity of DKK 2.5m. The equity is planned to be recovered with improve financial performance and considerations to capitalize tax assets in connection with the financial report for 2026, as stated at the extraordinary general meeting held October 27, 2026 (see company announcement no. 14 - 2026).
- Konsolidator finalized the refinancing plan set out in the annual report 2025 to refinance both the 2L Kapital A/S and EIFO loans. The completed refinancing plan has reduced the interest rates from approximately 14% to 8-9% and is expected to improve liquidity by DKK 4.2m annually in 2027 and 2028.
- The cash situation remains tight, and short-term financing has been addressed until the full impact of the refinancing emerges. Cash has been negatively affected by lower sales in Denmark.
Outlook
Konsolidator changed its CARR, Revenue, and EBITDA guidance for 2026 (Company announcement 15-2026). The company continues its focus on improving churn, expanding partner-led sales, and increasing adoption across the Konsolidator Suite, while maintaining cost discipline.
Guidance has been updated as follows:
- Contracted ARR DKK 28-29m
- Revenue of DKK 28-30m
- EBITDA of DKK 0-1m
Claus Finderup Grove, CEO, says: "In Q3 2026, we completed the refinancing plan we set out in our annual report. It lowers our interest costs and strengthens our liquidity in the coming years. We remain focused on delivering within our guidance and on our ambition to restore equity
Investor webinar
- An investor webinar will be held on November 4, 2026, at 9 (CEST). Sign up here.
Contacts
- Chair: Michael Moesgaard Andersen, mobile +45 6060 6969
- CEO: Claus Finderup Grove, mobile +45 2095 2988, cfg@konsolidator.com
- CFO: Jack Skov, mobile +45 2282 8845, js@konsolidator.com
Certified Adviser
Norden CEF A/S, John Norden, www.nordencef.dk
About Us
Konsolidator A/S is a cloud-based financial consolidation and reporting software provider dedicated to making group CFOs better with fast, reliable, and compliant financial data. Founded by a former CFO and an auditor, the solution eliminates manual processes and supports strategic decision-making. Built to scale with growing organizations, Konsolidator integrates seamlessly into the group's financial ecosystem. Through the Konsolidator Suite, the company offers a financial data warehouse and FP&A capabilities besides their consolidation solution, and partners with other best-in-class tools to support a holistic finance function. Konsolidator was listed on Nasdaq First North Growth Market Denmark in 2019. Ticker Code: KONSOL
