Claranova: FY 2025-2026 Revenue

• Annual revenue: €94 million, down 12%² on a like-for-like basis (-21% on a reported basis)
• Q4 revenue: €22 million, down 11%² compared with the previous quarter
  (-17%² in Q3)
• Growth drivers confirmed, with the Document (PDF) business up 4%¹ and the Utilities Software business up 5%¹ over the full year
• Improved revenue quality, with recurring revenue now accounting for 83%¹ of the total and B2B revenue up 11%¹ over the full year
• Revision of objectives as of December 31, 2028 (new fiscal year) and adaptation to the new business model

This press release presents the Group’s unaudited consolidated revenue prepared in accordance with IFRS.
myDevices classified as non-current a ssets held for sale and presented as discontinued operations (IFRS 5)³

PARIS--(BUSINESS WIRE)--Regulatory News: 

Claranova (Euronext Growth Paris: FR0013426004 - ALCLA) reports its revenue for FY 2025-2026 (July 2025 to June 2026), its first full fiscal year following the completion of its strategic shift to SaaS software publishing.

Annual revenue came to €94 million, down 12%² at constant exchange rates and scope (-21% on a reported basis), reflecting a negative currency impact of 4 percentage points and a 5-percentage-point scope effect related to the divestment of the U.S. non-core (Avanquest North America LLC) in October 2025⁴.

In €m	FY 2025-2026	FY FY 2024-2025	Change	Change at constant exchange rates	At constant consolidation scope	At constant scope and exchange rates
Fourth-quarter revenue	22	27	-17%	-15%	-12%	-11%
Annual revenue	94	118	-21%	-16%	-16%	-12%

Prior-year comparatives restated based on the scope of Avanquest operations (excluding PlanetArt and AQNA, which have been divested).

____________________

^1 Non-IFRS management data.

2 Like-for-like (defined as at constant scope and exchange rates)

^3 myDevices, considered non-core, has been placed under a sale mandate assigned to Canaccord Genuity on November 5, 2024.

^4 Disposal of Avanquest North America LLC completed on October 31, 2025 (see press release dated November 13, 2025).

Improved fourth-quarter performance

In Q4 2025-2026 (April to June 2026), the like-for-like decline eased (-11% versus -12% over the first nine months), reflecting the expected gradual improvement in the Group's trajectory. The Document (PDF) business delivered like-for-like growth of 4%¹ for the full year, driven by the acceleration of the marketing investments initiated in Q3. The Utilities Software business recorded strong growth in the quarter, while the advertising-driven portion of this business and the Photo business continued their structural decline, in line with market trends and the Company's strategy.

Growth in the Group's key businesses

Over the full year, the Group's key growth drivers maintained their positive momentum. The Document (PDF) business grew by 4%¹ on a like-for-like basis, establishing itself as the Group's primary organic growth driver for the year, while the Utilities Software business recorded like-for-like growth of 5%¹, demonstrating the resilience of its recurring revenue base. The Group's overall like-for-like decline for the year (-12%) remains concentrated in the advertising-driven portion of the Utilities business and the Photo business, reflecting underlying market trends, as the Group deliberately limited customer acquisition spending to preserve profitability.

The reported decline for the year continued to be significantly affected by adverse foreign exchange movements and the consolidation scope effect resulting from the divestment of its U.S. non-core operations at the end of October 2025.

Revenue quality and B2B channel

Recurring revenue accounted for 83%¹ of full-year revenue, up steadily from 75% at the close of FY 2024-2025. The B2B channel maintained its strong momentum, growing by 11%¹ over the year and now accounting for 6%¹ of the Group's total revenue, driven by its commercial pipeline and ongoing partnerships. The Group also continued to integrate AI across its product portfolio, with the launch of "Avanquest PDF API for Claude", announced on July 15, 2026.

“FY 2025-2026 validates the disciplined approach we have adopted. Our growth drivers, the Document (PDF) and Utilities Software businesses, continued to grow while improving revenue quality and achieved a sequential improvement in the fourth quarter, confirming the positive anticipated like-for-like trajectory. As we now transition to a calendar-year reporting cycle, we thus do so supported by strong fundamentals. "

Eric Gareau, Chief Executive Officer

Refinancing of the Cheyne debt

The Group is actively pursuing its refinancing initiatives and continues to explore various alternatives to refinance its debt, which matures in April 2028.

Confirmation of Payment of the Balance from the Sale of PlanetArt

Claranova confirms that on July 8, 2026, it received the remaining balance of $10 million (€8.7 million) from the sale of PlanetArt, an amount that had been held in escrow with the buyer for a period of 12 months as security for contingent liabilities.

Transition to a calendar-year reporting cycle

At the Combined General Meeting held on December 10, 2025, shareholders approved a change in the Company's fiscal year-end to December 31. Accordingly, FY 2025-2026, which ended on June 30, 2026, is the last twelve-month fiscal year running from July to June. It will be followed by an exceptional six-month fiscal period (July 1 to December 31, 2026), before the Company begins its first full calendar-year fiscal year in 2027. The comparability of reporting periods will be preserved, with the six-month fiscal period being compared directly with H1 2025-2026 (July to December 2025), while the three-month business update (as of September 30, 2026) will be compared with Q1 FY 2025-2026.

Updated guidance through 2028 (targets as of December 31, 2028)

Claranova's ongoing transformation and the evolution of its business model, against a backdrop of changing industry conditions, have given the Group greater visibility into its future performance.

Accordingly, Claranova s revising its medium-term objectives, as published in October 20255, which it intends to align with the new fiscal calendar so that they reflect the Group’s new structure, while maintaining high levels of profitability and financial strength:

• revenue of between €100 million and €120 million, representing annualized growth of 4% to 11% at constant exchange rates based on the current scope of consolidation;
• a B2B revenue contribution of more than 10% by 2028;
• an operating margin of between 21% and 23%;
• a leverage ratio of around 1.

Restructuring of the Board Committees

As part of its governance simplification initiative, the Board of Directors has decided to merge the Audit Committee and the CSR Committee into a single Audit and CSR Committee, which will assume all the responsibilities previously exercised by the two separate committees.

The members of the Audit and CSR Committee are Ms. Christine Hedouis, Chair of the Committee, Ms. Michele Anderson and Mr. Michael Dadoun.

The Group notes that, as of January 1, 2026, the Board of Directors consists of five directors and two non-voting members. Among its members, 60% are independent directors, 60% have international backgrounds, and 40% are women.

Update on the ongoing legal proceedings involving Mr. Pierre Cesarini

The ongoing proceedings are proceeding according to their respective timelines and have not yielded any new findings that could call into question the Group’s position; the Group remains confident regarding their outcome.

Financial calendar:

October 21, 2026: FY 2025-2026 results
November 10, 2026: Revenue for the three-month period ended September 30, 2026.

Telephone number for individual shareholders available from Tuesday to Thursday between 2 p.m. and 4 p.m. for calls within France: 0805 29 10 00 (local rate).

About Claranova:

Claranova is an innovative SaaS software publisher focused on simplifying everyday digital use across the Document (PDF), Utilities & Security, and Photo segments. Its solutions are marketed in more than 160 countries, with 94% of revenue generated outside France, and incorporate the latest artificial intelligence technologies to harness data, automate usage, and enhance the user experience. Offered in multiple versions and languages, its products are built on highly recurring revenue models.
Building on its strong and well-established B2C customer base, Claranova is accelerating its expansion in B2B by leveraging its proprietary technology platforms to address growing demand for workflow management and optimization.

Claranova is eligible for French “PEA-PME” tax-advantaged savings accounts
For more information on Claranova Group:
https://www.claranova.com or https://x.com/claranova_group

Disclaimer:

All statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the Company’s control. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company’s control that could cause the Company’s actual results or performance to be materially different from the expected results or performance expressed or implied by such forward-looking statements.

Definitions and calculation methods for alternative performance indicators

“Like-for-like” (organic) growth is defined as the change in revenue at constant structure (scope of consolidation) and exchange rates. “Exchange rate effects” are calculated by applying year N-1 exchange rates to year N revenue.

“Consolidation scope effects” are calculated by taking into account acquisitions in the current year, contributions to the current year from acquisitions in the previous year up to the anniversary date of acquisitions and businesses deconsolidated in the current year, minus any contributions from the previous year. By definition, sales for the previous year plus the effects of changes in Group scope of consolidation, exchange rate effects and like-for-like growth for the period correspond to sales for the current year. Percentages for exchange rate effects, Group consolidation scope effects and like-for-like growth are calculated on the basis of the previous year's sales. “Non-IFRS management data” refers to management reporting data prepared in U.S. dollars and in accordance with local accounting standards.

Appendix:
Revenue performance including the myDevices division
(For information purposes)

Revenue performance for FY 2025-2026 (12 months)

In €m	July 2025 to June 2026 (12 months)	July 2024 to June 2025 (12 months)	Change	Change at constant exchange rates	Change at constant consolidation scope	Change at constant consolidation scope and exchange rates
Avanquest	94	118	-21%	-16%	-16%	-12%
myDevices	8	8	-1%	n.s.	n.s.	n.s.
Group revenue	102	126	-19%	n.s.	n.s.	n.s.

CODES
Ticker :  ALCLA
ISIN: FR0013426004
www.claranova.com