IVA Technologies Q2 2026: Revenue Slips 8.5% y/y, Net Profit Down 72% as EBITDA Stays Negative

IVA Technologies reported Q2 2026 revenue of RUB 489.3m, down 8.5% y/y, with net profit of RUB 43.1m (-72.0% y/y) and EBITDA of RUB -179.8m (vs RUB -728.7m a year earlier). Revenue growth was broadly stable versus H1 2026 (-8.5% y/y), while net profit growth decelerated sharply from the prior-year comparison; EBITDA remained negative despite a narrower loss.

Q2 2026 vs Q2 2025: headline y/y growth

What drove the result

The top line contracted 8.5% y/y to RUB 489.3m, extending the soft trend seen in H1 2026 (revenue RUB 978.3m, -8.5% y/y). Profitability deteriorated more sharply: net profit fell 72.0% y/y to RUB 43.1m, implying a net margin of roughly 8.8% versus about 28.8% a year earlier. EBITDA remained negative at RUB -179.8m, though the loss narrowed substantially from RUB -728.7m in Q2 2025, suggesting some cost relief or lower non-cash charges; the company has not disclosed segment-level drivers in the provided data.

Key figures

Outlook

The key question is whether the narrower EBITDA loss can be sustained and converted into positive territory as revenue stabilises. With H1 2026 revenue down 8.5% y/y and net profit down 72.0%, the company faces a margin-recovery challenge. No consensus figures, dividend updates, or share-price reaction were provided; investors should watch for any guidance on cost structure and the trajectory of EBITDA in H2 2026.