Insider information, profit warning: Admicom Oyj lowers its financial guidance

Admicom Oyj Inside information June 8, 2026 at 8.10 PM EET

Due to the continued challenging market environment in the construction sector, Admicom Oyj ("Admicom" or the "Company") lowers the guidance for Annual Recurring Revenue (ARR) and revenue for the current year. At the beginning of 2026, the recovery of the construction market in Finland has not started as predicted at the end of 2025, which has not only impacted sales but also reflected in the slower-than-expected development of customer invoicing based on revenue and users. Customer churn continues to emphasize reasons arising from customer bankruptcies and insolvencies, which have accounted for approximately 30% of all churn during the first five months of the year. In addition, acquisitions and mergers caused by the consolidation of the construction market have caused almost 15% of the churn.

The high customer churn combined with low sales result in the first two months of the year is particularly visible in the development of Admicom's revenue. It is possible to generate Annual Recurring Revenue (ARR) faster in the second half of the year, but impacts on revenue growth are slower. However, with the prolonging market downturn uncertainties related to the second half growth have increased.

Admicom's original financial guidance was based on the assumption that reaching the upper end of the guidance in terms of growth would require either a faster recovery of the construction market or a small acquisition. Admicom does not rule out the possibility of an acquisition during 2026. However, the rapid development of artificial intelligence has caused uncertainty in the stock market of SaaS companies, which has also been reflected in Admicom's share price. The company's share value has decreased significantly compared to the beginning of 2026. The valuation levels of unlisted companies have not changed to the same extent, which makes value creation through acquisitions more challenging at the moment. However, Admicom is constantly developing its pipeline for acquisitions and striving to find ways to carry out acquisitions also in this market at reasonable valuation levels.

The execution of Admicom's updated strategy has started well in many areas. However, in a challenging market, the company's growth-accelerating projects have not yet yielded benefits as planned. During the second quarter, Admicom carried out change negotiations with the aim of responding to the need to change the focus of resource allocation to better support the chosen growth strategy.

Despite the weakening of the growth forecasts, Admicom maintains its original profitability guidance.

New financial guidance 2026

Annual Recurring Revenue (ARR) is expected to grow in 2026 by 3-10%. ARR in 2025 was 37.8 million euros.

Total revenue is expected to grow by 2-6% from 2025 level. Total revenue in 2025 was 37.7 million euros.

Adjusted EBITDA is expected to be 31-36% of revenue.

Previous financial guidance 2026

Annual Recurring Revenue (ARR) is expected to grow in 2026 by 6-12%. ARR in 2025 was 37.8 million euros.

Total revenue is expected to grow by 5-10% from 2025 level. Total revenue in 2025 was 37.7 million euros.

Adjusted EBITDA is expected to be 31-36% of revenue.