Wavestone SA

Latest Results (16.10.2025):

Wavestone SA reported a slight decrease in revenue for Q1 2025/26, aligning with the firm's expectations amid a challenging market environment.

Revenue

In Q1 2025/26, Wavestone SA achieved revenue of €231.5 million, reflecting a marginal decline of 0.4% compared to Q1 2024/25. On a constant scope and forex basis, revenue decreased by 0.6%, influenced by an unfavorable working day impact of -0.7%.

Consultant Utilization

The consultant utilization rate stood at 71% in Q1 2025/26, slightly down from 73% in the previous year. The average daily rate improved by 0.5%, reaching €944.

Acquisition of Wivoo

Wavestone SA acquired Wivoo, a leading player in the French digital ecosystem, for an enterprise value of €11.5 million with a potential earn-out of up to €4.5 million. This acquisition positions Wavestone as a key player in digital and AI consulting, with synergies already evident in joint engagements with major clients like Accor and Air Liquide.

Market Environment

The market remains demanding across most geographies, with a prevalent wait-and-see attitude among decision-makers leading to some project delays or cancellations. While the transport sector shows signs of slowdown, the energy sector is experiencing a positive trend. Additionally, there is growing demand for AI and technology-linked offerings such as cybersecurity and cloud services.

Financial Objectives

Wavestone SA reaffirmed its financial objectives for 2025/26, targeting €943.7 million in positive organic revenue growth and a recurring operating margin exceeding 13% on a constant forex basis, excluding the impact of the Wivoo acquisition and any new acquisitions.