Improved Profitability and Margins
Operating result increased to EUR 14 million in Q1 2026 versus EUR 6 million in Q1 2025; operating margin rose to 11% from 4% a year ago. Gross margin improved to 90% (up 2 percentage points from 88% in Q1 2025).
Operating Expense Reduction and R&D Capitalization
Operating expenses fell to EUR 103 million, a reduction of EUR 15 million year‑on‑year, driven by last year's organizational realignment and higher capitalization of Lane Model Maps investment.
Stronger Cash Position and Share Buyback Progress
Net cash of EUR 248 million at quarter end with no debt. Continued share buyback program: EUR 11 million completed of the EUR 15 million announced in December.
Progress on Lane Model Maps and Automated Production
Lane Model Maps being produced for parts of Germany with goal to deliver full lane-level maps for Europe and North America by year-end; focus on automating production to minimize manual remediation and improve coverage, speed and cost-efficiency.
Strategic Partnerships and Key Customer Wins
Expanded enterprise partnerships (AECOM, Kapsch TrafficCom, LOCUS) to extend real-time traffic into infrastructure planning/traffic management. Notable automotive contract win with Volkswagen targeted at higher levels of automation.
Location Technology Resilience on Constant Currency Basis
Location Technology generated EUR 114 million in Q1 (6% lower YoY), but on a constant currency basis revenue increased marginally, indicating underlying demand resilience when FX is excluded.
Reiterated 2026 Guidance and Long-Term Investment Focus
Company reiterated full-year 2026 revenue guidance of EUR 495–555 million (Location Technology EUR 435–485 million) and emphasized continued investment in Lane Model Maps to support future automated-driving revenue growth.