SoftwareOne revenue soars nearly 70 per cent in H1
Crayon integration gets closer to the finish line as channel business surges
SoftwareOne has reported a sharp rise in H1, supported by momentum across all regions and the Crayon merger.
Turnover soared 68.2 per cent year-on-year to CHF 818.3m (£746.7m) during the first six months of 2026, compared with CHF 486.6m the year prior.
The increase largely reflects the addition of Crayon, which SoftwareOne acquired in July 2025.
On an organic basis excluding Crayon, revenue rose five per cent year-on-year at constant currency.
On a combined like-for-like basis, which treats the two businesses as if they had been combined since January 2024, top line increased 11.6 per cent at constant currency.
Q2 revenue reached CHF 430.6m, representing like-for-like upward development of 10.4 per cent at constant currency.
Adjusted EBITDA increased 35.5 per cent at constant currency to CHF 203.8m.
“I am proud of our performance in the first half of 2026, as significant progress in terms of revenue growth, profitability and cash conversion was achieved and we are seeing encouraging market traction as customers respond to our combined offering,” said CEO Raphael Erb.
“At the same time, we have substantially completed the integration, a year into the business combination, with the leadership and combined organizational structures fully established.
“We will now shift gears.”
SoftwareOne's channel business surges
SoftwareOne recorded turnover increases across all seven of its geographic regions during H1.
The Nordics delivered the strongest performance with turnover climbing 26 per cent at constant currency to CHF 133.5m.
Services, which accounts for more than half of the region’s revenue, rose close to 20 per cent, driven by CSP services, cloud services as well as data and AI.
The channel business soared more than 50 per cent, also fuelled by CSP, while direct recorded a double-digit increase.
CEE earnings skyrocketed 16.7 per cent to CHF 42.2m, driven by strong performances across all business lines, particularly in Hungary, Romania and Bulgaria.
WEMEA revenue rose 11.7 per cent to CHF 169.9m, fuelled by double-digit services growth and a more than 50 per cent rise across its Channel business.
The organisation's UK arm ranks number 77 on CRN's Top VARs list.
DACH remained SoftwareOne’s largest geography, with turnover up 6.8 per cent to CHF 180.4m, fuelled by its Microsoft business.
APAC's earnings leapt 23 per cent to CHF 151m, with strong performances in Australia and New Zealand, India, Southeast Asia and North China.
NORAM rose 8.6 per cent to CHF 92.6m, with its channel business nearly doubling year on year, while LATAM increased 6.9 per cent to CHF 49.3m.
Across the group, software and cloud channel was one of its strongest-performing units, with revenue soaring 35.6 per cent at constant currency to CHF 76.9m.
The division was fuelled primarily by its CSP business, alongside other ISVs and the expansion of its Cloud IQ platform into additional countries.
Q2 channel revenue jumped 33.7 per cent, while adjusted EBITDA for the division increased 59.4 per cent to CHF 43.9m.
Software and cloud services turnover also rose 17.4 per cent at constant currency to CHF 404.6m, driven by CSP-related services, AWS and GCP cloud services, data and AI as well as cybersecurity.
On the other hand, software and cloud direct slightly rose1.5 per cent rise during H1, before declining 1.8 per cent in Q2.
Crayon integration nears completion
SoftwareOne said the integration of Crayon is now substantially complete, with its leadership and organisational structures finalised and the combined business operating under a unified go-to-market model.
Finance reporting integration has also been completed.
Several workstreams covering legal entity mergers, IT systems and process harmonisation are expected to continue until the end of 2027.
The organisation expects about CHF 20m in further integration costs during H2.
The announced comes alongside a broader leadership reshuffle.
Following Melissa Mulholland's departure last month, Erb became sole CEO on 1 August.
The organisation is now reinforcing its regional structure under three presidents from 1 September.
Regina Manfredi will lead the Americas, Rico Andreoli will oversee EMEA and Varun Paliwal will head APAC.
Guðmundur Aðalsteinsson has also been appointed chief channel and ecosystems officer, with all four executives joining the executive board.
Moving forward, SoftwareOne reiterated its FY26 outlook, forecasting mid to high-single-digit like-for-like revenue growth at constant currency and an adjusted EBITDA margin above 23 per cent.
The firm is targeting high-single-digit revenue CAGR through 2030, alongside a reported EBITDA margin above 28 per cent.