INVL Technology Interim information for 9 months of 2026

Equity of INVL Technology and the Company's net asset value as of 30 September 2026 was EUR 66.2 million or EUR 5.5292 per share (31 December 2025 these figures were EUR 64.62 million and EUR 5.4013 respectively).

Investments of the Company into managed companies amounted to EUR 70.79 million at the end of September 2026 and EUR 56.0 million at the end of September 2025.

The net profit of the Company for 9 months of 2026 amounted to EUR 1.670 million; the net profit of the Company for 9 months of 2025 was EUR 2.1 million.

Additional information:

INVL Technology, a company that invests in IT businesses, had equity and net asset value (NAV) of EUR 66.23 million at the end of September 2026, or EUR 5.53 per share. These figures have increased by 2.5% and 2.4%, respectively, since the beginning of the year.

In the first three quarters of 2026, the company earned an unaudited net profit of EUR 1.67 million, 20.3% less than in the same period last year, when profit stood at EUR 2.10 million.

“Although the third quarter was slower than the exceptionally strong period last year, we expect the fourth quarter results to deliver solid annual growth in the EBITDA and net profit of our portfolio companies. We anticipate that NRD Cyber Security will double its volume of recurring services and expand deployments of its proprietary products, Natrix and CyberSet, across Europe and globally. In addition, Novian’s artificial intelligence and deep-tech services and solutions segment is expected to approach one third of its revenue, while NRD Companies will secure long-term contracts in the areas of tax administration automation and digital registries,” says Kazimieras Tonkūnas, Managing Partner of INVL Technology.

Performance of portfolio companies

Aggregated revenue of INVL Technology’s portfolio companies in January–September 2026 amounted to EUR 51.46 million, down 3.5% compared to the same period last year. Gross profit for the comparative period increased by 3.6% to EUR 17.15 million, while aggregated EBITDA fell by 1.7% to EUR 5.10 million.

INVL Technology’s portfolio includes the Baltic IT company Novian, the cybersecurity company NRD Cyber Security, and the GovTech company NRD Companies.

In January–September this year, Novian recorded consolidated revenue of EUR 26.80 million and earned a gross profit of EUR 7.22 million—up 3.9% and 15.9%, respectively, compared to the first three quarters of last year. The group’s normalised EBITDA for the comparative period increased by 33% to EUR 2.73 million.

NRD Cyber Security’s consolidated revenue in January–September 2026 fell by 12.6% year-on-year to EUR 9.56 million compared to the same period in 2025. Gross profit for the comparative period decreased by 10% to EUR 3.31 million, and EBITDA dropped by 31.1% to EUR 1.26 million.

NRD Companies’ consolidated revenue in the first three quarters of 2026 reached EUR 8.82 million, a 5.2% increase compared to the same period last year. The company generated a gross profit of EUR 3.91 million, or 1.2% more than in January–September 2025. The group’s EBITDA for the comparative period decreased by 3.2% to EUR 1.24 million.

Managed by INVL Asset Management, the leading alternative asset manager in the Baltics, INVL Technology operates as a closed-end investment company whose investments must be realised by mid-July 2028 at the latest, with the proceeds distributed to shareholders.

The person authorized to provide additional information:
Kazimieras Tonkūnas
INVL Technology Managing Partner
E-mail [email protected]

Attachment

• Factsheet of INVL Technology_2026 Q3

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