Otovo Surpasses 55,000 Customers, Raises Full-Year Outlook to 90,000

Endurance AI platform and growing scale are making reliable service financially viable across the behind-the-meter power industry

OSLO, Norway--(BUSINESS WIRE)--Otovo ASA (Euronext Oslo Børs: OTOVO), a leading global energy service provider for residential and commercial customers, announced it has reached 55,000 customers as of July 31, 2026, and is raising its full-year outlook to 90,000 customers by the end of 2026. The update comes alongside Otovo's Q2 2026 financial results, in which the Company also raised its full-year revenue and profitability guidance.

Highlights

• Customer base jumped 80% to 55,000 as of July 31, 2026, up from 30,000 in May 2026
• Otovo now operates in 17 countries: 15 in Europe plus the United States and Israel
• U.S. footprint has expanded to 14 states
• Eight acquisitions announced since Otovo's December 2025 merger
• Endurance® Scheduling Optimizer is a self-developed algorithm increasing completed jobs per technician by an average of 25%
• More than $5 million in annualized cost savings identified to date, up from $4 million in the first quarter
• Approximately $34 million raised in financing over the past nine months
• Company raises its full-year 2026 customer outlook to approximately 90,000, up from prior guidance of approximately 60,000
• Otovo also raised its Q4 2026 annualized run-rate guidance today to $105-115 million in revenue and $15-20 million in Adjusted EBITDA, up from prior guidance of $80-90 million and $2.5-7.5 million

This week Otovo launched Endurance® Scheduling Optimizer, a proprietary routing algorithm developed in-house to maximize completed jobs per visit and per day; in early operation it has increased completed jobs per technician by an average of 25%. Gains like these underpin the more than $5 million in annualized cost savings the Company has identified to date, up from $4 million in the first quarter.

“For years, great service was tough to make economic sense in behind-the-meter power as the cost of monitoring and repairing scattered systems never penciled out,” said William J. (John) Berger, CEO of Otovo. “Endurance changes that math. Every customer we add spreads our technology across a larger base and further lowers costs. Endurance Scheduling Optimizer is a direct example – it has increased completed jobs per technician by an average of 25%. Scale is how we make great service affordable, and the profitability outlook we raised today shows it’s working.”

This milestone reflects the continued growth of Otovo's technology-enabled platform for residential and commercial energy services, which combines solar, battery, generator and grid participation into a single subscription-style offering supported by the Company's proprietary Endurance® AI platform. Otovo has expanded its footprint largely through acquisition, integrating operations and maintenance providers across the United States, Europe and, most recently, the Middle East.

Otovo has completed seven acquisitions since its December 2025 merger, with its eighth and largest acquisition announced in June through a letter of intent (LOI), as part of a disciplined strategy to build scale in operations and maintenance, solar, storage and EV charging services across the United States, Europe and the Middle East. The Company has raised approximately $34 million in financing over the past nine months to fund this acquisition-led growth and continued investment in the Endurance® platform.

The Company’s Endurance® roll-out remains on track for full completion in the third quarter. Otovo expects its technician headcount to more than triple by year-end 2026 following the anticipated close of the Green Panel acquisition.

“Reaching 90,000 customers by year-end is an aggressive target, but it's grounded in what we're already seeing across our markets,” added Berger. “Every acquisition we complete and every dollar we invest in Endurance is aimed at the same goal: making dependable service financially viable for home and business owners, wherever they are.”

About Otovo

Otovo is a technology-enabled energy services company in Europe and the United States. We combine real-time equipment monitoring, rapid repairs, dependable power supply, and grid participation into a single, seamless service–delivering maximum service at a minimal cost. Endurance™, Otovo's industry-leading AI platform, continually monitors installed equipment in homes and businesses, optimizes the entire service process from problem detection to resolution, and coordinates repairs around the clock. “Your Power, Backed by Ours.” Otovo is listed on the Euronext Oslo Stock Exchange under the ticker OTOVO. Visit us at otovo.com.

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