• NuWays reiterated a BUY rating on NFON with a 12-month price target of EUR 5, citing a transition year.
• Q2 sales fell 5.2% to EUR 20.9 million; H1 revenue declined 3.8% to EUR 42.5 million, driven by lower seats.
• Recurring revenue slipped 3.6% to EUR 19.8 million; recurring share rose to 94.4% as non-recurring revenue dropped 26.8%.
• Seats fell 4.2% to 630,000; blended ARPU edged up to EUR 9.95 on price actions, premium mix.
• Guidance implies H2 EBITDA margin of 11.7%-14.5%; Q2 adjusted EBITDA margin improved to 12.5% on lower opex.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. NFON AG published the original content used to generate this news brief via EQS News (Ref. ID: rc_26608) on August 21, 2026, and is solely responsible for the information contained therein.