Cyviz AS, a Norwegian collaboration technology company, has reported its second-quarter 2026 results, showing a 35% year-over-year decline in revenue to NOK 83.7 million. However, the company's annual recurring revenue (ARR) jumped 16% sequentially to NOK 76.8 million, driven by its shift towards a software-and-services model.
The company's gross margin expanded to 64.7% in the second quarter, up from 52% in the previous quarter, due to a higher proportion of software and services revenue. Cyviz's order intake reached NOK 126.2 million in the quarter, representing a 2% increase year-over-year and a 27% improvement from the first quarter.
Revenue Performance
The 35% year-over-year revenue decline reflected multiple factors, including weak order intake in the first quarter, project delays in both defense and energy sectors, and a negative impact from changed revenue recognition policies. Despite this, the company emphasized that no orders were cancelled, attributing the shortfall to timing rather than lost business.
Annual Recurring Revenue
Cyviz's ARR climbed to NOK 76.8 million from NOK 66.0 million in the first quarter, marking a 16.4% sequential increase and 57% growth from the second quarter of 2025. The company launched a new version of its Software Management Platform in April and expanded its partner ecosystem to 70 active partners by quarter-end.
Operational Results
The company reported several significant customer wins across key vertical markets, including a USD 3 million-plus project with a Saudi utility company and a USD 3 million-plus defense contract in Central Europe. Operating expenses declined modestly as cost control measures took effect, with opex totaling NOK 68.6 million in the second quarter, down 4% year-over-year and 15% below budget.
