"Our priorities over the past several quarters have been delivering consistent revenue and Adjusted EBITDA while progressively improving the quality of the underlying revenue mix, and Q1 2026 continues that trajectory," said Sandeep Mendiratta, Chief Executive Officer of the Company.
"In Q1 2026, our Top 30 Strategic Accounts grew 9% from Q1 2025 and now represent 73% of total revenue, up from 62% in Q1 2025. Google Cloud revenue grew 84% to $2.7 million in Q1 2026 compared to Q1 2025, and Integration revenue grew 58% to $1.9 million in Q1 2026 compared to Q1 2025. As these higher-margin areas accelerate, lower-margin reselling revenue continues to roll off, which is exactly the shift in mix we have been working toward.
Operationally, our focus remains consistent: connecting customer and finance data to measurable outcomes, proving value early, and scaling through AI-enhanced delivery. With NowUnlock now live and our recognition as Google Cloud Data & Analytics Partner of the Year for Latin America for the second consecutive year, we are executing this model with discipline as we move through 2026."
Selected Financial Highlights for the Three Months ended March 31, 2026:
Revenue was $9.7 million in the three months ended March 31, 2026 ("Q1 2026"), a 6% decrease from $10.4 million for the three months ending March 31, 2025 ("Q1 2025"), due to a decrease in Brazil license and maintenance reselling revenue.
Gross Profit was $4.7 million in Q1 2026, an 8% decrease from $5.1 million in Q1 2025, due to lower Brazil license and maintenance reselling revenue. Gross profit margin was 48% in Q1 2026 compared to 50% in Q1 2025.
Administrative Expenses were $3.6 million in Q1 2026, consistent with $3.6 million in Q1 2025.
Income from Operations was $1.1 million in Q1 2026, a 26% decrease from $1.5 million in Q1 2025, mainly due to lower gross profit.
Adjusted EBITDA was $1.8 million and 18% of revenue in Q1 2026, a 30% decrease from $2.5 million and 24% of revenue in Q1 2025. Adjusted EBITDA is a non-GAAP financial measure, see "Non-IFRS Measures" below.
Q1 2026 and Subsequent Business Highlights:
May 14, 2026: The Company signs a $4 million, three-year AI and Google Cloud agreement with a leading Latin American fintech company.
April 30, 2026: The Company expands its strategic data and analytics engagement with a leading Latin American technology, e-commerce and fintech company through increased recurring revenue.
April 21, 2026: The Company announced that it has been named the 2026 Google Cloud Data & Analytics Partner of the Year for Latin America, marking the second consecutive year the Company has received this award.
Q1 2026 Financial Results Investor Webinar:
The Company invites shareholders, analysts, investors, media representatives, and other stakeholders to attend our upcoming webinar. Management will discuss Q1 2026 results, followed by a question-and-answer session.
Investor Webinar Registration:
Time: Wednesday May 27, 2026, 11:00 AM in Eastern Time (US and Canada)
Registration Link: https://us02web.zoom.us/webinar/register/WN_vF1x3CArT0ymlkRiXu6ClQ
A recording of the webinar and supporting materials will be made available in the investor's section of the Company's website at https://www.nowvertical.com/news-and-media.
Additional Information:
The Company's first quarter of 2026 condensed consolidated interim financial statements, notes to financial statements, and management's discussion and analysis for the three months ended March 31, 2026, are available on the Company's SEDAR+ profile at www.sedarplus.com. Unless otherwise indicated, all references to "$" in this press release refer to US dollars, and all references to "CAD$" in this press release refer to Canadian dollars.
About NowVertical Group Inc.
The Company is a data analytics and AI solutions company offering comprehensive ...
