White Pearl Technology Group reports record Q3 revenue and strong operating cash flow

Q3 revenue rises 36.5% to SEK 179.1 million; nine-month EBITDA increases 29.1% to SEK 84.8 million

Stockholm, 5 November 2026 — White Pearl Technology Group AB (publ) (“WPTG” or “the Group”) today publishes its interim report for the third quarter and nine months ended 30 September 2026. Third-quarter revenue rose 36.5% year-on-year to SEK 179.1 million, the Group’s highest quarterly revenue to date, while EBITDA increased 9.5% to SEK 31.3 million.

Financial and strategic highlights

• Nine-month revenue increased 32.7% to SEK 482.9 million; EBITDA rose 29.1% to SEK 84.8 million, with an EBITDA margin of 17.6%.
• Q3 cash flow from operating activities reached SEK 38.6 million, equivalent to 123.6% of Q3 EBITDA; nine-month operating cash flow was SEK 42.9 million (50.6% cash conversion).
• AI & Platforms increased to 27% of Q3 revenue from 20% in Q1; Recurring Services accounted for 38% of nine-month revenue.
• Europe represented 37.4% of Q3 revenue, up from 31.1% in H1 2026, reflecting the expanded Nordic presence.

Sven-Otto Littorin, Chairman of the Board, said: “The Board welcomes the continued growth in revenue and EBITDA. The priority now is to integrate the enlarged Group, strengthen recurring earnings and ensure that growth translates into sustainable cash generation and value for shareholders.”

Ebrahim Laher, Chief Executive Officer, said: “We have established our AI-first platform and completed the initial Nordic expansion phase. Q3 delivered record revenue and a significant improvement in operating cash conversion. Our next phase is disciplined execution: integrating the businesses, commercialising our AI capabilities, improving cash generation and identifying new businesses to add to the platform already established.”

Mattias Bergkvist, Deputy Group CEO, said: “Aixia is now organisationally integrated into WPTG, and our focus has shifted to commercial execution. AI & Platforms contributed 27% of Group revenue in Q3, compared with 20% in Q1, demonstrating the growing importance of AI within our business. WPTG is not simply a collection of acquired companies. We are building an integrated technology platform that combines specialist capabilities, customer relationships and shared infrastructure to create commercial synergies, accelerate growth and deliver greater value than the individual businesses could achieve independently.”

Looking ahead. WPTG will prioritise integration, cross-selling, recurring services, working-capital discipline and selective acquisitions intended to create value per share, with greater emphasis on cash consideration rather than new share issuance.