TalkPool AG: Talkpool's Q2 2026 interim half-year report

Key developments

• Top-line growth of 9.2 % and operational performance in line with long-term targets.
• A EUR 1.65 million share issue of 1.5 million new shares to 10 new investors, led by Bruce Grant, was completed in June 2026.
• A new EUR 10 million two-year contract was signed with Germany's largest network operator on the 22nd of June.
• 100% of the shares in Netcom Global Partners Pte. Ltd. (Singapore) and its wholly owned subsidiary Netcom Global Partners Europe AB (Sweden) (together, "Netcom") were acquired for EUR 1 100 000.
• Selling expenses more than doubled to EUR 381 221 in H1 2026 from EUR 176 543 in the same period last year. The increased costs are temporarily reducing profit margins. Investments in Sales are necessary to fuel future growth with higher profit margins.
• The Annual General Meeting was held on the 11^th of June 2026.
• The company made progress with preparations for updating the strategy and starting to implement the strategy including positioning as AI transformation partner for telecom operators and tower companies.

This is Talkpool

Talkpool works behind the scenes to plan, build and improve large communication networks. The company partners with Original Equipment Manufacturers to distribute, integrate and maintain technology that enhances telecommunication infrastructure.

Talkpool has global geographical reach and experience, but it has reduced its geographical focus. Competence includes planning, implementation, project management, optimization and maintenance of fixed and mobile telecom networks. After a turnaround period that has taken several years, the business started to grow in 2025.

Strategic plan

• Organic Growth: Planned acceleration from 2025 through 2030
• M&A: Selective acquisitions and potential divestments starting in 2026
• Market Expansion: Penetration into high-growth telecommunications segments
• Service Portfolio Enhancement: Introduction of higher-margin technology-enabled services

Financial targets for 2030:

• Revenue: EUR 40 million (representing a CAGR of approximately 16.8%), driven by expansion in existing business and new remote services fueled by increased use of technology tools
• EBITDA Margin: 14% of revenues (Earnings Before Interest, Tax, Depreciation and Amortization)
• Operational Cash Flow: Continued focus on positive cash flow generation
• Capital Structure: Zero net debt target was reached in 2025, followed by strategic cash reserve accumulation

Management Comments

Talkpool's balance sheet strengthened substantially in Q2 2026. After years of incremental improvements, the EUR 1.65 million share issue boosts Talkpool's already strong balance sheet.

The second quarter of 2026 confirmed the momentum built up earlier in the year, with Talkpool converting its strengthened market position into concrete commercial results. Net sales grew by 9.2% to EUR 4 594 thousand, and the quarter delivered proof points that validate the strategic direction set out a year ago.

The most significant milestone of the quarter was the signing of a new EUR 10 million two-year contract with Germany's largest network operator on the 22nd of June. This win reflects the planned transformation of Talkpool's German business - currently the company's best-performing market - from a project organization towards a more structured corporate set-up and demonstrates that the shift towards responsibility-driven infrastructure partnerships is gaining traction with tier-one clients. A senior sales manager started in Germany as an important step towards strengthening the commercial capacity.

Talkpool acquired Netcom Global Partners in Q2 2026 and paid EUR 300 000 in cash. The acquisition is expected to strengthen Talkpool's ability to consult and guide telecom clients. Rather than using its own products and services as a starting point, Talkpool is transitioning to a strategy in which the clients' problems and needs are at the center. The EUR 300 000 investment in Netcom, plus four performance-based annual earn-out payments, is a bet on improving Talkpool's ability to become a leading telecom AI transition partner.

The Annual General Meeting was held on the 11th of June 2026. Talkpool also completed a EUR 1.65 million share emission of 1.5 million new shares to 10 new shareholders, led by Bruce Grant. The directed issue was announced in March and finalized in June 2026. The new investors have already begun contributing operationally: they assisted Talkpool in winning its first contract with the incumbent operator in Sweden, and the group held its first meeting in the newly formed advisory board format, marking the start of a more structured engagement with this group of senior telecom executives.

The generated Gross Margin of 28.3% was the highest in a long time, but the operational profitability in the quarter reflects a deliberate trade-off. EBITDA margin was 6.8% (8.0%) and EBIT margin 5.8% (7.0%), with selling expenses more than doubling to EUR 381,221 in H1 2026 from EUR 176,543 in H1 2025. This increase is a direct investment in the sales capacity needed to convert Talkpool's improved market access - including the direct boardroom relationships described in Q1 - into signed contracts of the scale seen in Germany this quarter. Talkpool expects this investment phase to continue to weigh on margins in the near term, consistent with the company's approach of remaining profitable while funding the transition from subcontractor to technology solutions provider.

Geographically, the Caribbean market continued to perform well, and the Pakistani business stabilized, providing a solid base alongside the growth momentum in Germany. The markets in the USA and Saudi Arabia are still very small and require investments in H2 2026 to grow. Sweden is expected to grow through Netcom Global Partners and Talkpool Sverige, with support from the advisory board and Applied Invest.

Progress was made with updating the strategy and beginning its implementation. A framework dividing services into Essential, Managed and Smart is introduced, and technology trials with clients such as Enfrashare, TekPro and Digicel are ongoing. The company is positioning itself as an AI transformation partner for telecom operators and tower companies.

This report contains insider information that Talkpool AG is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication at 08:30 Central European Time on Friday the 28^th of August 2026.