Linedata Services: Nine-month 2026 revenue: €121.4m (+1.7% organic)

What happened

Linedata Services reported nine-month 2026 revenue of €121.4m, stable on a reported basis versus the same period in 2025 and up 1.7% on a like-for-like basis, which strips out currency and structural effects.

Confirmed

Global impact / market context

Recurring revenue reached €97.4m, or 80% of the total, meaning most sales repeat rather than depend on new deals. That steadier base, plus third-quarter like-for-like growth of 8.8% and order intake up 6.2%, points to a business recovering from the 2025 cyber incident disruption.

Analyst inference

Asset management revenue fell slightly as reported but rose on a like-for-like basis, while lending and leasing grew. The reported total was pulled down by currency and structure effects, so the underlying trend looks better than the headline number.

Analyst inference

What to watch

1. Order intake reached €37.2m at end-September 2026, up 6.2%. Watch whether this signed business converts into revenue in coming quarters, since order intake is work won but not yet billed. Confirmed
2. Linedata should keep separating reported and like-for-like figures, because currency moves can mask real growth. The article gives no full-year guidance, so readers should wait for management targets. Proposed
3. Watch whether asset management returns to reported growth, since first-half quarters were weak. Sustained recovery there would support revenue and cash available to fund capital spending. Analyst inference

Evidence

• eqs-news.com