Izertis grows by 25.8% in the first half and accelerates its strategic focus on artificial intelligence
Technology consultancy Izertis closed the first half of 2026 with revenue of 98.1 million euros, representing an increase of 25.8% compared with the same period the previous year. The rate of growth has accelerated significantly compared with that recorded in the first six months of 2024 (9.5%) and 2025 (18.9%), consolidating a sustained growth trajectory that places the company’s average annual growth at 24% for the period between 30 June 2022 and 30 June 2026, driven both by the organic growth of the business and by the integration of acquisitions.
As for normalised EBITDA, this rose to 11.5 million euros, 4.3% higher than in the same period of the previous financial year. Since the first half of 2022, this indicator has recorded an average annual growth rate of 20.1%, reflecting a combination of growth, operational efficiency and discipline in business execution.
The half-year results demonstrate Izertis’ ability to combine growth, profitability and strategic vision in a market characterised by advances in artificial intelligence. The company is strengthening its capabilities and accelerating the development of its own solutions to meet growing demand for AI-based transformation projects. This commitment is a key driver of growth, with a direct impact on generating new business opportunities, achieving competitive differentiation and creating long-term value.
Integration of acquisitions and investment in AI
Two factors account for the performance in the first half of the year. The first is the incorporation of three companies: ACKstorm and SADE in April, and ANZEN Engineering in June, which strengthen the consultancy’s position by contributing key capabilities and clients. Some of these acquisitions operate with a lower margin than Izertis, so over the coming months the company will undertake an integration and optimisation process to gradually bring them into line with the group’s standards.
The second is the significant financial investment Izertis is making to equip itself with the most innovative technological tools and to develop its own solutions based on Artificial Intelligence. This effort also includes the recruitment of specialist staff, as well as the training and development of existing teams to acquire new skills.
Two factors account for this performance: the acquisition of three companies and the investment in innovative technological tools
Both factors have influenced the normalised EBITDA margin, which stood at 11.7%, compared with 14.1% in the first half of 2025.
Without this additional investment and transformation effort, the margin would have remained closer to previous levels.
However, the technology consultancy considers both decisions to be essential to its growth strategy for the coming years.
In this way, Izertis aims to consolidate its position in high-value technology sectors and move towards a distinctive offering that takes AI beyond internal use, transforming it into a tool with a real impact on organisations’ processes and businesses. Investment will continue over the coming months, in line with technological developments and client needs.
Improvement in adjusted net financial debt
This performance is also underpinned by a solid financial position. As at 30 June 2026, Izertis’ cash position stood at 74.6 million euros, 38% higher than at the end of 2025. Stronger cash generation enabled the net financial debt to be reduced from the €74.4 million recorded at the end of the previous financial year to 59.1 million euros, representing a decrease of 20.5%. Consequently, the ratio of net financial debt to normalised EBITDA for the last twelve months improved from 3.1 times to 2.4 times.
A significant portion of this debt relates to variable payments associated with acquisitions made by the Group in recent years to drive its growth and strengthen its international position. As the final amount of these commitments will depend on the future performance of the acquired companies, they may be realised in full or in part.
Adjusted net financial debt stood at 31.9 million euros at the end of the half-year, compared with 59.8 million euros recorded at the end of 2025, representing a reduction of 46.7%.
Excluding these contingent commitments, adjusted net financial debt stood at 31.9 million euros at the end of the half-year, compared with 59.8 million euros recorded at the end of 2025, representing a reduction of 46.7%.
At the same time, the ratio of adjusted net financial debt to normalised EBITDA for the last twelve months improved from 2.5 times to 1.3 times.
Izertis is thus combining strong business growth with a substantial improvement in its financial structure, strengthening its ability to pursue new expansion opportunities, maintain its investment pace and execute its strategy with financial discipline and a solid liquidity position.
“The first half of the year shows a growing company, with lower debt and a more solid financial position to tackle its next phase. At Izertis, we are investing in technology, talent, methodology and our own solutions to stay ahead of the transformation that artificial intelligence is bringing about in the market. This investment is aimed at expanding our value proposition, generating new opportunities for profitable growth and turning our capabilities into tangible results for our clients. We are laying the foundations to strengthen Izertis’ competitiveness and create sustainable value for our shareholders in the long term,” says Lourdes Argüelles, CFO of Izertis.
Progress towards the Business Plan 2030
These results enable Izertis to continue making progress towards the objectives of its Business Plan 2030, which aims to achieve revenue of 500 million euros and normalised EBITDA of 65 million.
The roadmap combines organic and inorganic growth, international expansion and specialisation in advanced technologies. Artificial intelligence plays a central and cross-cutting role in this strategy, influencing professional capabilities, working methodologies and the solutions developed for clients.
Revenue growth, the improvement in normalised EBITDA over the last twelve months, the reduction in net financial debt and the strengthening of liquidity provide Izertis with a more solid financial foundation on which to execute its strategy. The Spanish company is thus making progress towards its goal of building a leading European technology consultancy brand that is distinctive, competitive and capable of generating sustainable long-term value.