Continued improvement in like-for-like revenue trends, with growth drivers confirmed
- Reported revenue: down 13.4%, including a 6.6-percentage-point impact from the divestment of Avanquest's non-core operations1
- Like-for-like revenue: decline narrows to 6.7%2, compared with 10.8%2 in Q4 2025-2026 and 17.3%2 in Q3 2025-2026
- Growth drivers: Document/PDF business up 5.6%2 and the software component of the Utilities business up 15.9%2
- Revenue quality: recurring revenue accounts for 82.7%3 of total revenue, with B2B sales up 9.0%2
This press release presents the Group's unaudited consolidated revenue prepared in accordance with IFRS.
Classification of myDevices as a discontinued operation (IFRS 5).
Regulatory News:
Claranova (Euronext Growth Paris: FR0013426004 ALCLA) today reported revenue for the first three months (July-September 2026) of its exceptional six-month 2026 fiscal year (July 1-December 31, 2026), providing the first update on its transition to a calendar-year reporting cycle.
Revenue for the period totaled €20.7 million, down 13.4%, reflecting a negative currency impact of 0.1 percentage point, a 6.6-percentage-point impact from changes in scope following the October 2025 divestment1 Non-IFRS management data. of Avanquest's non-core US operations, and a 6.7% decline on a like-for-like basis².
In €m | Jul. to Sep. 2026
| Jul. to Sep. 2025
| Reported change | Currency impact | Consolidation scope impact | Like-for-like
|
Core businesses (Documents/PDF, Utilities and Photo) | 20.7 | 22.3 | -7.3 | -0.1 pt | -7.2 | |
Non-core businesses1 | 0.0 | 1.6 | n.s. | n.s. | n.s. | n.s. |
Jul.-Sep. revenue | 20.7 | 23.9 | -13.4 % | -0.1 pt | -6.6 pts | -6.7 % |
Basis of comparison: July-September 2025 revenue (Q1 2025-2026), as reported on November 13, 2025, including Avanquest North America LLC, which was divested on October 31, 2025, with the divestment reflected as a change in scope.
Continued improvement in like-for-like revenue trends
The like-for-like revenue decline narrowed further during the first three months of the transitional six-month 2026 fiscal year(July-September 2026): 6.7%2 compared with 10.8%2 in Q4 and 17.3%2 in Q3 2025-2026, marking the second consecutive quarter of improvement.
Growth in the Group's key businesses
Document/PDF revenue reached €8.1 million, up 5.6%2 on a like-for-like basis compared with Q1 2025-2026, driven in particular by 9.0%2 growth in B2B sales. This business maintained its role as a key driver of the Group's like-for-like growth. The software component of the Utilities business accelerated to 15.9%2
The like-for-like revenue decline remained concentrated in the advertising component of the Utilities business, consistent with market trends, and continued to weigh on the Utilities business as a whole, with revenue down 11.6%2. The Photo business continued to prioritize profitability, with revenue down 39.7%2
Revenue quality and B2B channel
Revenue quality remained stable, with recurring revenue accounting for 82.7%3 of total revenue for the period, compared with 82.5%3for FY 2025-2026. B2B sales increased 9.0%² and accounted for 6.3%³ of Group revenue, compared with 5.9%³ for FY 2025-2026.
During the period, the Group signed a distribution agreement with Vertosoft2, giving more than 90,000 US public-sector organizations, including state and local governments and educational institutions, access to Avanquest's PDF solutions. The Group also continued to roll out AiDO, its AI-powered intelligent document orchestration and automated document processing platform.
"The first three months of our exceptional six-month 2026 fiscal year confirm that our strategy is delivering results and that our efforts are beginning to pay off. Our like-for-like revenue decline has narrowed quarter after quarter, while both the Document/PDF and the software component of the Utilities businesses are growing. B2B is becoming an increasingly important growth driver, supported by a dedicated team, an expanding partner network and an AI-enhanced product offering that includes AiDO. Our distribution agreement with Vertosoft, which gives us access to the US public sector, is one of the first tangible results of these efforts.
Eric Gareau, Chief Executive Officer
Transition to a calendar-year reporting cycle
As approved at the Combined General Meeting on December 10, 2025, FY2025-2026, which ended on June 30, 2026, is the Group's final 12-month fiscal year running from July to June. It is followed by an exceptional six-month fiscal period (July 1 to December 31, 2026), before the Company begins its first full calendar-year in 2027. As announced on July 29, 2026, the three-month update (as of September 30, 2026) is presented against Q1 2025-2026.
Financial calendar:
December 04, 2026: Annual General Meeting
Telephone number for individual shareholders (Tuesday through Thursday, 2:00 p.m. to 4:00 p.m.): 0805 29 10 00 (toll-free from within France)
About Claranova:
Claranova is an innovative SaaS software publisher focused on simplifying everyday digital use across the Document/PDF, Utilities and Photo segments. Its solutions are marketed in more than 160 countries, with 94 of revenue generated outside France, and incorporate the latest artificial intelligence technologies to harness data, automate usage, and enhance the user experience. Offered in multiple versions and languages, its products are built on highly recurring revenue models.
Building on its strong and well-established B2C customer base, Claranova is accelerating its expansion in B2B by leveraging its proprietary technology platforms to address growing demand for workflow management and optimization.
Claranova is eligible for French "PEA-PME" tax-advantaged savings accounts
For more information on Claranova Group:
https://www.claranova.com or https://x.com/claranova_group
Disclaimer:
All statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the Company's control. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company's control that could cause the Company's actual results or performance to be materially different from the expected results or performance expressed or implied by such forward-looking statements.
Definitions and calculation methods for alternative performance indicators
"Like-for-like" (organic) growth is defined as the change in revenue at constant structure (scope of consolidation) and exchange rates. "Exchange rate effects" are calculated by applying year N-1 exchange rates to year N revenue.
"Consolidation scope effects" are calculated by taking into account acquisitions in the current year, contributions to the current year from acquisitions in the previous year up to the anniversary date of acquisitions and businesses deconsolidated in the current year, minus any contributions from the previous year. By definition, sales for the previous year plus the effects of changes in Group scope of consolidation, exchange rate effects and like-for-like growth for the period correspond to sales for the current year. Percentages for exchange rate effects, Group consolidation scope effects and like-for-like growth are calculated on the basis of the previous year's sales. "Non-IFRS management data" refers to management reporting data prepared in U.S. dollars and in accordance with local accounting standards.
Appendix:
Revenue performance including the myDevices division
(For information purposes)
Revenue performance for the first three months of the exceptional six-month 2026 fiscal year (July-September 2026):
In €m | Jul. to Sep. 2026
| Jul. to Sep. 2025
| Reported change | Currency impact | Consolidation scope impact | Like-for-like
|
Avanquest | 20.7 | 23.9 | -13.4 | -0.1 pt | -6.6 pts | -6.7 |
myDevices | 2.6 | 2.2 | +18.8 | +1.7 pt | +17.1 | |
Group revenue | 23.3 | 26.1 | -10.6 % | +0.1 pt | -6.0 pts | -4.7 % |
1 Disposal of Avanquest North America LLC completed on October 31, 2025 (see press release dated November 13, 2025).
2 Like-for-like (organic) growth defined as at constant scope and exchange rates.
3 Non-IFRS management data.
2Signing of a strategic distribution agreement with Vertosoft (see press release dated August 19, 2026
CODES
Ticker:? CLA
ISIN: FR0013426004
www.claranova.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20261110158833/en/
Contacts:
ANALYSTS INVESTORS
+33 1 41 27 19 74
ir@claranova.com
FINANCIAL COMMUNICATIONS
+33 1 75 77 54 65
ir@claranova.com
