Fabasoft AG
Fabasoft develops cloud software for documents, business processes and enterprise search.
Overview
Latest results
Apr–Jun 2026 · Reported in EUR
Latest financial publication
Q1 2026/27 results
Investment Thesis
Recurring software growth is beginning to carry the cost base
European Tech Equities analysis ·
Make trusted information useful inside the organisation
Fabasoft AG sells software that helps organisations manage documents, find information and run business processes. AI can make those systems more useful if it works within customers’ access rights and existing information structures. The investment case is that customers expand recurring use of Fabasoft and Mindbreeze products, allowing product-development costs to be spread over a larger installed base.
The first quarter shows operating leverage
In April–June 2026, the first quarter of its 2026/27 financial year, revenue rose 19.7% to €25.4 million. Recurring revenue increased to €15.2 million from €12.7 million, while EBIT rose to €5.3 million from €2.4 million. That combination supports the case more directly than an AI product announcement, because it connects repeat business to improved reported profitability.
Digital budgets help only when customers choose the application
Gartner forecasts global software spending of US$1.468 trillion in 2026. Europe’s €1.3 billion Digital Europe work programme for 2025–2027 also supports AI uptake, cloud and data infrastructure. Those budgets are much broader than Fabasoft’s market. Its opportunity is to win concrete information-management deployments and additional recurring usage, competing for spending that customers could direct to other platforms or internal projects.
Cash conversion needs a longer view than one quarter
Operating cash flow was €1.3 million in April–June, below EBIT, while purchases of tangible and intangible assets were €1.4 million. June cash of €40.3 million provides resources, but should not obscure the timing difference between earnings and collections. Further quarters need to show that recurring growth funds both ongoing development and the cost of supporting customers.
Recurring growth matters more than an AI label
A premium would be better supported by renewal revenue, customer expansion and sustainable cash margins than by assuming every AI feature creates new sales. The current quarter is promising, but annualising its earnings would ignore timing and mix. The case strengthens when the larger recurring base consistently supports operating costs and leaves cash after investment.
What would weaken the case
- Customers use new AI features without paying enough additional fees to cover their cost.
- Larger platforms displace specialist applications or constrain customer expansion.
- Strong quarterly earnings fail to produce sustained cash generation across the financial year.
Sources
Financials
The business in numbers
Latest
Income statement
| For the periodEUR million | Q1 2025/26 | Q1 2026/27 |
|---|---|---|
| Revenue | 21.20 | 25.36 |
| Operating profit (EBIT) | 2.41 | 5.30 |
| Operating margin | 11.4% | 20.9% |
| Net income | 1.71 | 3.78 |
| Earnings per share (EUR) | 0.15 | 0.35 |
Cash flow
| For the periodEUR million | Q1 2025/26 | Q1 2026/27 |
|---|---|---|
| Operating cash flow | -0.52 | 1.28 |
| Capital expenditure | 1.09 | 1.43 |
| Free cash flow | -1.61 | -0.15 |
Balance sheet
| At period endEUR million | Q1 2025/26 | Q1 2026/27 |
|---|---|---|
| Cash & cash equivalents | 32.29 | 40.34 |
| Total debt | — | 18.74 |
| Net debt / (net cash) | — | -21.60 |
| Total assets | — | 106.14 |
| Total liabilities | — | 61.33 |
| Total equity | — | 44.81 |
Sources and details
Each statement retains its reporting period. Charts use comparable periods and a shared accounting basis; a dash means the figure has not been verified on European Tech Equities.
Q1 2025/26 · Three-month report 2026/27, pp. 33–34
Calculated: margins = profit ÷ revenue; free cash flow = operating cash flow less capital expenditure; net debt = debt less cash; liabilities = assets less equity. The company-specific notes explain what debt includes. Negative net debt represents net cash. Quarterly flows cover each individual quarter; balance sheet figures are at period end.
Three-month report 2026/27, pp. 33–34. Fiscal year ends 31 March. Free cash flow here is operating cash flow less purchases of tangible and intangible assets. Quarterly figures are not annualised. Debt includes reported borrowings and lease liabilities, excluding trade and other operating payables.
Quarterly
Income statement
| For the periodEUR million | Q1 2025/26 | Q1 2026/27 |
|---|---|---|
| Revenue | 21.20 | 25.36 |
| Operating profit (EBIT) | 2.41 | 5.30 |
| Operating margin | 11.4% | 20.9% |
| Net income | 1.71 | 3.78 |
| Earnings per share (EUR) | 0.15 | 0.35 |
Cash flow
| For the periodEUR million | Q1 2025/26 | Q1 2026/27 |
|---|---|---|
| Operating cash flow | -0.52 | 1.28 |
| Capital expenditure | 1.09 | 1.43 |
| Free cash flow | -1.61 | -0.15 |
Balance sheet
| At period endEUR million | Q1 2025/26 | Q1 2026/27 |
|---|---|---|
| Cash & cash equivalents | 32.29 | 40.34 |
| Total debt | — | 18.74 |
| Net debt / (net cash) | — | -21.60 |
| Total assets | — | 106.14 |
| Total liabilities | — | 61.33 |
| Total equity | — | 44.81 |
Sources and details
Each statement retains its reporting period. Charts use comparable periods and a shared accounting basis; a dash means the figure has not been verified on European Tech Equities.
Q1 2025/26 · Three-month report 2026/27, pp. 33–34
Calculated: margins = profit ÷ revenue; free cash flow = operating cash flow less capital expenditure; net debt = debt less cash; liabilities = assets less equity. The company-specific notes explain what debt includes. Negative net debt represents net cash. Quarterly flows cover each individual quarter; balance sheet figures are at period end.
Three-month report 2026/27, pp. 33–34. Fiscal year ends 31 March. Free cash flow here is operating cash flow less purchases of tangible and intangible assets. Quarterly figures are not annualised. Debt includes reported borrowings and lease liabilities, excluding trade and other operating payables.
Performance
About these figures
Dates link to the original reports. Bars compare the same period a year earlier, on a consistent accounting basis. Arrows show whether the number rose or fell, not whether it is good or bad for the business.
Research & updates
Fabasoft AG - Veröffentlichung einer Kapitalmarktinformation (Aktienrückkauf)
Fabasoft AG beschließt Aktienrückkauf | 19:14 Uhr (MESZ)
Fabasoft AG, Veröffentlichung der Mitteilung nach § 135 Abs. 3 BörseG (eigene Aktien)
Fabasoft AG, Veröffentlichung der Mitteilung nach § 40 Abs. 1 Satz 2 WpHG (eigene Aktien)
Fabasoft startet erfolgreich ins neue Geschäftsjahr
Company publications
Fabasoft AG · Q1 2026/27 financial report
Interviews
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Sources
Sources & data dates
Financial figures link to the company’s publications and retain their reporting period. Share prices have their own closing dates.
Q1 2026/27 · Published Aug 13, 2026 · Checked Sep 14, 2026
Checked 2026-09-14
Checked 2026-09-14
Checked 2026-09-14
Checked 2026-09-14
