Visma reported H1 2026 revenue of €1,615 million, up 18.8% year-on-year (11.8% organic), as the Nordic cloud software group continued to convert European SMBs and public-sector bodies away from disconnected legacy systems onto its integrated national business platforms.
Adjusted EBITDA reached €547 million at a 33.8% margin, a 19.2% increase year-on-year. The customer base grew 30.2% to 2.7 million, driven by both organic adds and six acquisitions completed in the period. Annualised Recurring Revenue hit a record €3,051 million — 18.7% total growth, 13.0% organic.
"Visma's strong momentum has carried into 2026, with resilient growth delivered across our markets," said CEO Merete Hverven. "Businesses are moving away from disconnected legacy systems toward all-in-one software for mission-critical processes such as accounting, payroll, invoicing and tax — and our Business Platform strategy is built precisely for this shift, bringing together products into one integrated platform in each market. This focus is delivering tangible results — driving increased customer spend, more effective cross-selling across our portfolio, and deeper, long-term customer partnerships."
The AI story sits at the centre of the H1 narrative. Visma says 40% of ARR now comes from customers who have access to embedded AI features as part of their package. Three examples illustrate where the adoption is landing: e-conomic, the Danish accounting platform, uses AI to scan and match financial data, saving customers an estimated 67 hours a month; FabricAI (part of Finnish platform Netvisor) has cut invoice processing costs by an estimated 75% compared with manual handling; and Spiris in Sweden is deploying a Virtual CFO built by Dinero, using real-time open banking data and predictive modelling to deliver proactive financial advice to SMB clients.
"Building on our deep regulatory DNA, local know-how and decades of proprietary data, we are well positioned to deliver trusted solutions and services powered by AI, empowering SMBs and local governments in their daily work," Hverven added.
The six H1 acquisitions extended Visma's geographic footprint. In Brazil, MaisMei (compliance) and Dootax (fiscal automation) address the country's complex tax system. A minority stake in European accounting platform fulll deepened the Continental European presence. Visma's M&A strategy remains focused on adding adjacent capabilities within its national platform model rather than large-scale transformative deals.
The company is privately held, with Warburg Pincus as a significant shareholder alongside KKR and other investors; it does not publish quarterly updates, making the H1 filing the principal point of public visibility into its performance.
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