Planisware raises 2026 targets after H1 revenue hits €106m
Planisware, the Euronext Paris-listed provider of project management SaaS platforms, has reported first-half 2026 revenue of €106.1 million, up 14.8% in constant currencies and 10.8% in reported euros. The company used the results to raise its full-year targets, citing a strong commercial pipeline and four consecutive quarters of accelerating growth.
Growth picked up through the period: Q1 came in at 13.6% constant-currency growth; Q2 accelerated to 16.0%. Chief executive Loïc Sautour attributed the momentum to a combination of new-logo go-lives from contracts signed in late 2025 and continued expansion within the existing customer base, with the company's AI-powered capabilities described as reinforcing platform differentiation.
H1 financials
SaaS and hosting revenue, the core of the group's recurring model, grew 20.7% in constant currencies to €53.2 million, now representing just over half of total revenue. Recurring revenue overall reached €96.2 million, or 91% of the total. The sharp 69.1% constant-currency jump in non-recurring implementation revenue reflects the volume of new-logo onboarding underway; management noted this mix effect weighed modestly on gross margin, which was broadly flat year-on-year at 73.1%.
Adjusted EBITDA reached €38.2 million, a margin of 36.0%, up roughly 20 basis points year-on-year. Profit for the period climbed 32.0% to €28.6 million, helped by a €3.9 million positive financial result driven by interest income on a substantial cash pile. Adjusted free cash flow was €41.2 million, representing a cash conversion rate of 107.8%, ahead of the company's normalised 80% annual target; management flagged that first-half seasonality in SaaS billing typically inflates the H1 conversion figure.
Net cash stood at €204.5 million at 30 June 2026, after €24.9 million of dividend payments and €10.0 million of share buybacks. Capital expenditure was elevated at €6.2 million (5.8% of revenue) owing to new datacentre openings and hardware procurement brought forward to hedge against RAM price inflation; the company expects capex to normalise to around 3% of revenue in H2.
Headcount grew to 881 at period end, up 10.1% over twelve months, with the majority of new hires in Europe, including new offices in Vienna and Rome.
Raised guidance and market context
Planisware has revised its 2026 revenue growth target upward to at least 13% in constant currencies, from a prior low-double-digit commitment, and tightened its EBITDA margin floor to at least 37.4% of revenue, matching the full-year 2025 outturn. The cash conversion rate objective remains at approximately 80%.
The project portfolio management (PPM) software market sits within a broader enterprise-software landscape that includes competitors such as SAP (through its portfolio and project management modules), Oracle Primavera, ServiceNow Strategic Portfolio Management, and a range of specialist vendors. Planisware's positioning around AI-augmented planning for complex project environments in sectors such as life sciences, aerospace and defence, and energy gives it a defined vertical focus, though it places it in competition with large ERP vendors that increasingly embed similar functionality natively.
The company's geographic mix is broadly balanced: Europe contributed 50% of H1 revenue with 17.0% constant-currency growth; North America 42% with 13.4%; APAC and rest of world 8% with 10.2%, though the region was held back by a reduction in revenue from one large Asian governmental digital agency. Management expects the NRR contribution from existing customers to recover in H2 as initial onboarding of new logos completes and cross-sell capacity is freed up.
Q3 2026 revenue will be published on 23 October 2026.