Exasol: New customers and lower churn stabilize ARR, weaker upselling weighs on revenue – 2026 guidance confirmed

EXASOL AG / Key word(s): Quarterly / Interim Statement/Quarter Results


11.11.2026 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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  ARR stable at EUR 37.9 million in the third quarter; revenue for the first nine months at EUR 28.7 million (9M 2025: EUR 31.7 million), EBITDA at EUR 2.7 million (9M 2025: EUR 3.0 million) Milestone reached in agentic AI strategy: Fortune 500 pharmaceutical company won as a new customer, with revenue in the mid-six-digit euro range in the first year First joint customer project launched with strategic partner adesso; MariaDB Exa product commercially available following delays Churn development through Q1 2027: ARR churn rate of around 10% expected at year-end 2026; expiring contracts in non-focus industries and with US customers will lead to a temporary increase to over 20% in the first quarter of 2027 Guidance for fiscal year 2026 confirmed
Nuremberg, November 11, 2026: Exasol AG (ISIN DE000A0LR9G9), a global technology company and provider of high-performance database technology, reported stable ARR development in the third quarter of 2026. As of September 30, 2026, ARR stood at EUR 37.9 million, almost at the prior-year level (September 30, 2025: EUR 38.3 million). However, new customers and significantly lower churn were unable to offset the continued weaker upselling performance with existing customers. Revenue for the first nine months declined, mainly due to the exceptionally high one-off revenues in the prior-year period; recurring revenue was slightly below the prior year.

Focus industries drive new business; ARR development impacted by investment restraint among existing customers In the nine-month period, Exasol won 15 new customers (H1 2026: 11), 10 of them in the focus industries, driven primarily by stronger partner business. ARR in the focus industries amounted to EUR 26.9 million as of September 30, 2026 (September 30, 2025: EUR 26.5 million), representing 71% of total ARR (September 30, 2025: 69%). With existing customers, Exasol generated ARR growth of EUR 1.9 million through upselling in the first nine months of 2026 (prior year: EUR 4.3 million). The decline is attributable to pronounced investment restraint among existing customers. New customer development and the significantly reduced churn largely offset this effect, so that total ARR of EUR 37.9 million was only slightly below the prior year (September 30, 2025: EUR 38.3 million). Revenue for the first nine months of 2026 decreased by 9.5% to EUR 28.7 million (9M 2025: EUR 31.7 million), mainly due to exceptionally high one-off hardware and service revenues in the prior year. At EUR 28.0 million, recurring revenue was slightly below the prior-year figure (EUR 28.5 million). With a stable cost base and higher other operating income, EBITDA amounted to EUR 2.7 million (9M 2025: EUR 3.0 million). Net income after taxes rose to EUR 2.3 million (9M 2025: EUR 2.1 million) as a result of a higher financial result and lower depreciation and amortization. In the third quarter, revenue of EUR 9.7 million was 5% below the prior-year quarter (Q3 2025: EUR 10.2 million), EBITDA amounted to EUR 1.1 million (Q3 2025: EUR 1.0 million) and net income after taxes to EUR 1.1 million (Q3 2025: EUR 0.7 million). Net cash amounted to EUR 20.6 million as of September 30, 2026 (December 31, 2025: EUR 18.7 million).

Agentic AI contract, partner projects and commercial availability of MariaDB Exa In the third quarter, Exasol signed a contract for its agentic AI solution with a Fortune 500 pharmaceutical company in the US. The contract initially comprises annual software ARR of EUR 240,000 as well as one-off project fees of around EUR 450,000 in 2026. Exasol sees significant expansion potential in this customer relationship for 2027, which depends on the scheduled go-live at year-end. In the third quarter, Exasol advanced its projects with strategic partners. With adesso, Exasol signed the first joint customer project. With MariaDB, Exasol completed the technical integration of the MariaDB Exa product, which had been delayed in the first half of the year. The solution has been commercially available since the end of October. Three proofs of concept are currently underway with StackIt.

Jörg Tewes, CEO of Exasol: “The contract with a Fortune 500 pharmaceutical company shows that our agentic AI solution delivers in enterprise deployments. We are using it as a blueprint in sales, for cross-selling to existing customers and as a door opener for new customer business. In the third quarter, we also reached key milestones with the Exasol core product together with our partners MariaDB, adesso and StackIt. Together with our partners, we see a growing pipeline and expect it to generate increasing new business volume in 2027. We see data sovereignty as the third key pillar for reviving our ARR momentum. Driven by geopolitical developments and dependence on a small number of US providers, it has once again gained significant attention among policymakers and companies in recent months. With our platform, we can provide public and private sector organizations with technological independence and control over their own data.”

Confirmation of guidance for fiscal year 2026 Exasol confirms its guidance for fiscal year 2026 as revised on August 12, 2026. The company continues to expect a change in ARR of between -2% and +2% compared to the prior year (December 31, 2025: EUR 38.4 million), a revenue decline in the upper single-digit percentage range and EBITDA of between EUR 3.0 million and EUR 3.5 million.

Churn development through Q1 2027 shaped by expiring contracts As expected, the rolling twelve-month ARR churn rate declined from 25% (end of Q3 2025) to 12% (end of Q3 2026; June 30, 2026: 10%). For year-end 2026, Exasol expects a rate of around 10%. In the first quarter of 2027, Exasol expects the ARR churn rate to rise again temporarily to just over 20%, as contracts with customers in non-focus industries and in the US expire. The affected volume of contract cancellations and adjustments is in the mid-single-digit million-euro range. From the second quarter of 2027, churn is expected to decline gradually, as the consolidation of the customer base on the focus industries will then be largely complete. Due to the twelve-month window, the effect will remain visible in the metric until the end of 2027 and will affect net growth in 2027. The share of the focus industries in ARR is expected to increase from 71% (September 30, 2026) to 77% to 80% by the end of the first quarter of 2027; nine of the ten largest customers will then come from these industries.

Jan-Dirk Henrich, CFO of Exasol: “For fiscal year 2027, we are planning for accelerated new business driven by increased upselling to existing customers, cross-selling of our agentic AI solution and further tailwind from our partner business. We are currently working on detailed planning. As usual, we will announce our expectations for ARR development through the end of 2027 with our guidance in February 2027.” CEO Jörg Tewes and CFO Jan-Dirk Henrich will present the results in a webcast for analysts, institutional investors and representatives of the financial and business media. The webcast will be held today, November 11, 2026, at 2:00 p.m. CET, in English. Please register to participate in the webcast at: https://www.appairtime.com/event/f49d1d0b-2535-4ce2-9891-fa41f2cb3527?utm_source=exasol-ag&utm_medium=issuer-share&utm_campaign=event-invite

About Exasol AG Exasol AG (ETR: EXL) is a leading provider of high-performance database technology headquartered in Germany, specializing in on-premises and hybrid IT environments. The Company offers customized solutions for customers in highly regulated industries and the public sector, ensuring digital sovereignty and compliance with the EU General Data Protection Regulation (GDPR). Exasol is the sovereign analytics database built with the performance and scale that high-concurrency AI and analytics workloads demand. It enables organizations to control data, execution, and governance – across the environments they choose – while equipping developers and data teams with the speed and confidence to build, test and deploy applications and AI agents faster. Organizations around the world rely on Exasol for outstanding performance and reliability. Powered by in-memory computing, massively parallel processing (MPP), self-optimizing technology and advanced AI capabilities, Exasol enables organizations worldwide to accelerate their AI and analytics workloads. The result: faster, better-informed decisions with infrastructure costs under control. For more information about how Exasol can transform your data analytics capabilities, visit www.exasol.com.

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Language:	English
Company:	EXASOL AG
	Neumeyerstraße 22-26
	90411 Nuremberg
	Germany
Internet:	www.exasol.com
ISIN:	DE000A0LR9G9
WKN:	A0LR9G
Listed:	Regulated Unofficial Market in Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate BSX
LEI Code:	529900ZPF6KHG6O3GY79
EQS News ID:	2432144

End of News	EQS News Service

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2432144  11.11.2026 CET/CEST