LONDON, Nov. 4, 2026 /PRNewswire/ — ECARX Holdings Inc. (Nasdaq: ECX) (“ECARX” or the “Company”), a leading global automotive intelligence company, today announced unaudited financial results for the quarter ended September 30, 2026.

Ziyu Shen, ECARX CEO, commented, “The third quarter was defined by disciplined execution across our product pipeline and financial results. Our continued shift toward higher-end Antora® and Pikes® solutions, together with the careful management of our supply chain and higher memory costs, are directly supporting revenue growth.

Strategically, we continue to move up the value chain by owning more of our technology stack. At the end of the quarter, we completed the acquisition of the Flyme software business, giving us ownership of the application layer that drivers use every day and opening up new recurring software revenue opportunities. We have entered into a non-binding MOU with Arm to co-develop next-generation AI compute systems that can be applied in automotive and beyond. And, we are also finalizing a partnership with a leading European luxury automaker on a Joint Cockpit AI Innovation Lab built on Flyme OS to further drive growth up the value chain.

Our technology is proven in more than 12 million vehicles, and the same stack can now bring AI from the cloud to the edge across a much wider range of intelligent devices. By expanding our product portfolio, growing our partner ecosystem and accelerating global market penetration, we are building ECARX into a technology partner for a substantially larger market.”

Third Quarter 2026 Financial Results:

During the quarter, ECARX acquired 100% equity interest in Hubei Qiguang Technology Co., Ltd. (“Qiguang”), an entity under common control. Comparative financial information is restated by combining assets, liabilities, revenues, expenses and equity of ECARX and Qiguang using the pooling-of interests method. All intercompany transactions and balances between the combining entities have been eliminated.

During this quarter, the Company identified errors in its previously issued consolidated financial statements relating to the accounting for certain government subsidies recognized in 2021 and 2022. Management evaluated the errors and concluded that they were not material to the previously issued financial statements, but would be material to the current-period financial statements if left uncorrected. Accordingly, to correct these errors and enhance the comparability of the financial information presented, the Company has made correcting adjustments to other current liabilities and equity as of the beginning of the earliest comparative period presented.

Total revenue was US$240.8 million, up 10% year-over-year (“YoY”).Sales of goods revenue was US$222.7 million, up 23% YoY. The increase was mainly attributable to the pricing adjustment implemented to offset the impact of elevated memory costs, as well as the sales volume increase compared to the third quarter last year.Software license revenue was US$0.4 million, down 56% YoY, primarily due to a decrease of sales volume for software licenses compared to the third quarter last year.Service revenue was US$17.7 million, down 53% YoY. The decline is attributable to the seasonal nature of vehicle model launches by our partners. While new model launches peaked in the second quarter of 2026, the pace of project launches subsequently experienced a notable deceleration in the third quarter.Total cost of revenue was US$223.9 million, up 30% YoY, driven primarily by rising memory costs associated with the sales of goods.Gross profit was US$16.9 million, down 65% YoY, resulting in a gross margin of 7.0%. Cost escalation in the third quarter exceeded what our current pricing was able to offset. Consequently, passing on further cost increases proved more challenging, with a larger portion being absorbed internally to support volume growth and maintain partnership commitments, and therefore memory costs remain a drag on profitability. In addition, the decrease in service revenue also led to a decline in service margin. As a result, gross margin decreased from 21.9% to 7.0% YoY.Research and development expenses were US$27.5 million, down 12% YoY, primarily driven by the continued resource prioritization that enhanced operational efficiencies and synergies from R&D integration and the internal deployment of AI across our business to reduce structural costs.Selling, general and administrative expenses and others, net were US$25.6 million, up 11% YoY, reflecting a US$6.7 million impairment recorded in the third quarter of 2026 against the convertible bonds previously issued by DreamSmart. Excluding this amount, the remaining expenses declined by US$4.2 million, or down 18% YoY, primarily driven by the continued improvement in global operating efficiencies and lower share-based compensation expenses incurred during the quarter.Net loss was US$48.6 million, compared with US$8.4 million during the same period last year. The change was mainly driven by the decrease of gross margin, as well as an increase in fair value losses of an equity security and finance expenses.Adjusted EBITDA (non-GAAP) loss was US$37.7 million, compared with adjusted EBITDA (non-GAAP) loss of US$0.9 million in the same period last year. See “Non-GAAP Financial Measure.”Total cash as of September 30, 2026 was US$53.7 million, compared with $165.5 million at June 30, 2026. During the quarter, we paid $191.5 million for the acquisition of Flyme software business, funded by a combination of cash reserves and $67.8 million of bank financing drawn in the quarter. The remaining change primarily reflects changes in operating cash outflow and working capital to support new program launches, funded through $30.5 million in bank financing.Looking ahead, our visibility into the remainder of the year gives us the confidence around our strategic trajectory:Based on our current backlog and accelerating commercial pipeline, we are reiterating our full-year 2026 guidance of US$1.0-US$1.1 billion in total revenue.We expect global memory costs to continue to weigh on our gross margin and operating profitability over the next few quarters, including the fourth quarter of 2026. However, we have been proactive in managing this environment, as demonstrated in the prior quarters and again now. We continue to work with customers and suppliers to mitigate the impact through pricing adjustments, operational efficiencies, and product mix optimization. We continue to view these pressures as manageable and remain focused on protecting the long-term profitability profile of the business.

Recent Business Development Highlights and Updates:

Expanding Global Footprint and Automaker Partnerships

More than 12 million vehicles on the road globally with ECARX technologies as of September 30, 2026, spanning across 18 OEMs, 28 brands, and 159 markets, with multiple additional partnership discussions advancing.Flyme Auto recorded more than 1.2 million vehicle deployments from January to September 2026, bringing total cumulative deployments of Flyme Auto by ECARX to over 3.5 million vehicles.Finalizing partnership with a leading European luxury automaker to establish a Joint Cockpit AI Innovation Lab based on Flyme OS, developing next-generation intelligent cockpit systems customized for the automaker’s vehicles in China.Continued industrialization of the Volkswagen Group program, remaining firmly on track with engineering, supply chain and support infrastructure build-out across Latin America ahead of the expected 2027 launch.

Deepening Innovation-Driven R&D Ecosystem

Completed the acquisition of the Flyme software business on September 30, 2026, expanding capabilities beyond hardware into higher-value software ecosystem services, with Flyme operating as an independent software division.Tencent Cloud’s WorkBuddy AI-powered smart work assistant will be integrated with Flyme AIOS, expanding AI capabilities across the Flyme ecosystem.Signed a non-binding memorandum of understanding with Arm to co-develop AI compute platforms for automotive applications. The partnership builds upon the years-long relationship with Arm China, with whom ECARX co-incubated SiEngine.

Technological Advancements and Product Launches

Shipped approximately 721,000 units during the quarter, with high-end Antora® solutions accounting for 30% of shipments, compared to 25% in the same period last year.Initiated mass production for 21 new vehicle models across 5 brands, 6 of which are designated for markets outside of China, such as Korea.Secured 23 vehicle design wins during the quarter, further strengthening the Company’s commercial pipeline and long-term revenue momentum.

Conference Call and Webcast Details

ECARX will host a webcast of its earnings conference call today, Wednesday, November 4, 2026, at 8:00 a.m. EST. To access the webcast, visit the News and Events section of the ECARX Investor Relations website, or visit the following link – https://edge.media-server.com/mmc/p/e4i8peb6/lan/en

To join the earnings call by telephone, participants must preregister at https://register-conf.media-server.com/register/BI9ffd14a76c2a4f01aa0a3d8d55eed7b0 to receive dial-in information.

A replay of the webcast and presentation materials will be available on the Company’s Investor Relations website under the results and reports section following the event.

About ECARX

ECARX (Nasdaq: ECX), headquartered in London, is a leading global automotive intelligence company. ECARX provides the intelligent brain that powers the next generation of software-defined and AI defined vehicles. The company delivers end-to-end, full-stack solutions spanning advanced system-on-chip hardware, high-performance central computing platforms, intelligent cockpit technology, Advanced Driver Assistance Systems, cloud connectivity and physical AI, alongside bespoke vehicle software and intelligent operating systems.

As automakers transition to software-first and AI-first vehicle architectures, ECARX empowers automakers to streamline integration, reduce systemic complexity and optimize long-term cost efficiency. ECARX’s proven technology is deployed in around 12 million vehicles worldwide, and is currently partnered with 18 global automakers and 28 vehicle brands to shape the future of automotive intelligence.

Founded in 2017 and listed on Nasdaq in 2022, ECARX operates from 15 major international locations across Europe, the Americas and Asia, with a global team of over 1,400 employees.

Forward-Looking Statements

This release contains statements that are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management’s beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, amongst other things, results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which we operate. The use of words “expects”, “intends”, “anticipates”, “estimates”, “predicts”, “believes”, “should”, “potential”, “may”, “preliminary”, “forecast”, “objective”, “plan”, or “target”, and other similar expressions are intended to identify forward-looking statements. Forward-looking statements, including statements regarding our intentions, beliefs or current expectations concerning, among other things, results of operations, financial condition, liquidity, prospects, growth, strategies, future market conditions or economic performance and developments in the capital and credit markets and expected future financial performance, and the markets in which we operate, are not guarantees of future performance and are subject to a number of risks and uncertainties that could cause actual results to differ materially.

For a discussion of these and other risks and uncertainties that could cause actual results to differ materially from those expressed in any forward-looking statement, see ECARX’s filings with the U.S. Securities and Exchange Commission. ECARX undertakes no obligation to update or revise forward-looking statements to reflect subsequent events or circumstances, except as required by applicable law.

Non-GAAP Financial Measure

The Company uses adjusted EBITDA (non-GAAP) in evaluating its operating results and for financial and operational decision-making purposes. Adjusted EBITDA is defined as net loss excluding interest income, interest expense, income tax expense, depreciation of property and equipment, amortization of intangible assets, and share-based compensation expenses.

The Company presents this non-GAAP financial measure because it is used by the management to evaluate the Company’s operating performance and formulate business plans. The Company believes that the non-GAAP measure helps identify underlying trends in its business that could otherwise be distorted by the effects of certain expenses that are included in net loss. The Company also believes that the use of the non-GAAP measure facilitates investors’ assessment of its operating performance.

Adjusted EBITDA (non-GAAP) should not be considered in isolation or construed as alternatives to net loss or any other measures of performance or as indicators of the Company’s operating performance. Investors are encouraged to compare the Company’s historical adjusted EBITDA (non-GAAP) to the most directly comparable GAAP measure, net loss. Adjusted EBITDA (non-GAAP) presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data. The Company encourages investors and others to review the financial information in its entirety and not rely on a single financial measure.

For more information on the non-GAAP financial measure, please see the table captioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” set forth at the end of this press release.

Unaudited Reconciliation of GAAP and Non-GAAP Results

We use adjusted EBITDA in evaluating our operating results and for financial and operational decision-making purposes. Adjusted EBITDA is defined as net loss excluding interest income, interest expense, income tax expense, depreciation of property and equipment, amortization of intangible assets, and share-based compensation expenses.

Adjusted EBITDA should not be considered in isolation or construed as alternatives to net loss or any other measures of performance or as indicators of our operating performance. Investors are encouraged to compare our historical adjusted EBITDA to the most directly comparable GAAP measure, net loss. Adjusted EBITDA presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.

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SOURCE ECARX Holdings Inc.

Expanding Performance CTV through differentiated commerce audiences, flexible activation, and connected measurement

NEW YORK, Nov. 4, 2026 /PRNewswire/ — Criteo (NASDAQ: CRTO), the global commerce intelligence platform, today announced the expansion of its Performance Connected TV (CTV) capabilities beyond the U.S. to additional markets. The rollout will begin in Brazil and Mexico by the end of 2026, followed by Canada, the UK, France, Germany, Italy, Spain, Australia, and select additional markets in 2027. As advertisers seek to tie CTV investment to business outcomes, this expansion harnesses Criteo’s commerce audiences, flexible activation, and connected measurement to make CTV a more powerful performance channel.

Criteo forms real-time, deterministic commerce signals from more than $1 trillion in annual transactions, 740 million daily active users (DAUs), and more than 5 billion stock keeping units (SKUs). Its proprietary household graph then links these real shopping behaviors and purchase intent signals to personal connected TVs. Building on 20 years of performance optimization expertise, Criteo’s bidding engine uses this intelligence to optimize bids, helping advertisers reach high-intent shoppers on the largest screen in the home and activate CTV as a performance channel.

Criteo’s clients are already seeing strong results from their Performance CTV campaigns. A global travel platform generated a 61x return on ad spend while delivering a 9% lower cost per acquisition compared to their Display campaign serving to the same audience.

Criteo is also winning budgets in competitive evaluations, driven by the strong performance delivered through its differentiated commerce audiences. Looking ahead, the company continues to invest in its commercial resources and is on track for its CTV business to double in Q4 2026 compared with Q3 2026.

“As advertisers increasingly look to connect the impact of television with their broader digital advertising strategies, CTV represents a significant growth opportunity for Criteo,” said Michael Komasinski, Chief Executive Officer of Criteo. “The early momentum we’re seeing in the U.S. is fueling our global expansion as we bring our Performance CTV offering to a broader advertiser base and look to capture a greater share of this growing market.”

CTV is part of a wider shopper journey that spans social media, the open internet, AI-powered discovery, and retail, and Criteo is uniquely positioned to drive results across those environments. The company’s global expansion into CTV advances its cross-channel strategy, helping advertisers connect with consumers from initial discovery through purchase and beyond. Criteo provides closed-loop measurement capabilities to help advertisers connect CTV ad exposure to corresponding shopper visits, conversions, and sales as consumers move across channels and devices.

Advertiser demand is increasing, with active campaigns now spanning several verticals, including apparel, travel, home and furnishing, consumer electronics, and automotive. Criteo’s opportunity pipeline has doubled over the past three months, and clients are renewing with larger budgets after successful initial campaigns.

To deliver this growing demand, Criteo has broad and diversified access to CTV supply, combining direct relationships with media owners with access through leading supply technology partners, and expects to expand this footprint further over the coming quarters.

Customer perspectives bring the Performance CTV opportunity into focus:

“CTV is becoming an increasingly important part of our broader media strategy, but its real value comes from how it connects with the rest of the customer journey,” said Jared Lee, Vice President of Ecommerce at Franklin Planner. “Criteo’s cross-channel activation capabilities help us reach consumers with tailored ads while they stream TV at home and continue engaging them as they move closer to purchase. That connected approach creates exciting opportunities to drive stronger outcomes across our advertising efforts.”

“We’re always looking for ways to make our advertising investments more effective, and CTV represents a compelling opportunity to reach consumers within this emerging environment,” said Christina Bylin, Chief Marketing Officer at CarParts.com. “With Criteo, we can harness real shopping behaviors and purchase intent to reach more relevant audiences on CTV and then connect our investment to meaningful business outcomes.”

“The holiday season is one of the most important times of year for our business, and we’re always looking for new ways to connect with shoppers as they discover and choose gifts,” said Patrick Ahrendt, Senior Director of Marketing at Wine Country Gift Baskets. “By bringing CTV into our media mix with Criteo, we can reach high-intent audiences in a new environment and turn holiday shopping inspiration into measurable results.”

“Criteo makes sequential campaigns easy to run by automatically linking living-room CTV impressions to personalized follow-up ads across mobile and desktop without complex manual setup,” said Rudy Tan, CTO at TripMasters. “This seamlessly bridges high-impact brand awareness with measurable, mid/lower-funnel conversions in just a few clicks.”

CTV activation is available through demand platform Commerce Growth. To learn more about Criteo’s Performance CTV offerings, visit our website.

About Criteo

Criteo (NASDAQ: CRTO) is the global commerce intelligence platform that drives performance for brands, agencies, retailers, and publishers. Built on proprietary commerce data from more than $1 trillion in annual sales and two decades of AI innovation, Criteo helps companies across the ecosystem make smarter decisions and achieve better outcomes, while delivering more relevant experiences for shoppers. With thousands of clients and deep partnerships across global retail and digital commerce, Criteo provides the technology and insights businesses need to compete and grow. For more information, please visit www.criteo.com.

Contacts

Investor Relations & Corporate Communications
Melanie Dambre, m.dambre@criteo.com 

Public Relations
Amanda Echavarri, a.echavarri@criteo.com

Forward Looking Statements Disclosure

This press release contains certain forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements include statements regarding our financial condition, results of operations, cash flows, plans, objectives, future performance and business, our expectations regarding our market opportunity and future growth prospects, including the expansion and growth of our CTV business, and other statements that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially.

Factors that might cause or contribute to such differences include, but are not limited to: failure related to our technology and our ability to innovate and respond to changes in technology, including our use and expected use of AI; uncertainty regarding our ability to access a consistent supply of internet display and CTV advertising inventory and expand access to such inventory; investments in new business opportunities and the timing of these investments; our ability to expand and grow our CTV business as anticipated; whether the projected benefits of acquisitions or strategic transactions, including the completed redomiciliation from France to Luxembourg (the “Conversion”) and the proposed transfer of our legal domicile from Luxembourg to the United States via the merger of the Company into a newly incorporated and wholly-owned U.S. subsidiary (the “U.S. Merger”), materialize as expected; uncertainty regarding our international operations and expansion, including related to changes in a specific country’s or region’s political or economic conditions or policies and related uncertainties (such as the imposition and enforceability of tariffs); the impact of competition or client in-housing; uncertainty regarding legislative, regulatory or self-regulatory developments regarding data privacy matters and the impact of efforts by other participants in our industry to comply therewith; our ability to obtain and utilize certain data as a result of consumer concerns regarding data collection and sharing, as well as potential limitations in accessing data from third parties; failure to enhance our brand cost-effectively, recent growth rates, including in our CTV business, not being indicative of future growth; client flexibility to increase or decrease spend; our ability to manage growth, potential fluctuations in operating results, our ability to grow our base of clients, and the financial impact of maximizing Contribution ex-TAC, as well as risks related to future opportunities and plans, including the uncertainty of expected future financial performance and results; changes in general political, economic and competitive conditions and specific market conditions; adverse changes in the advertising industry; changes in applicable laws or accounting practices; failure to obtain the required shareholder vote to adopt the proposals needed to complete the U.S. Merger; failure to satisfy any of the other conditions to the U.S. Merger; the U.S. Merger not being completed; the impact or outcome of any legal proceedings or regulatory actions that may be instituted against us in connection with the Conversion or the U.S. Merger; failure to maintain the listing of our shares on Nasdaq or failure to list our stock on the New York Stock Exchange following the U.S. Merger or maintain our listing thereafter; inability to take advantage of the potential strategic opportunities provided by, and realize the potential benefits of, the Conversion or the U.S. Merger; the disruption of current plans and operations by the Conversion or the U.S. Merger; the disruption to the Company’s relationships, including with employees, landowners, suppliers, lenders, partners, governments and shareholders; the future financial performance of Criteo, including our anticipated growth rate and market opportunity; changes in shareholders’ rights as a result of the Conversion or the U.S. Merger; difficulty in adapting to operating under the laws of Luxembourg or the United States; the delay or abandonment of the U.S. Merger; costs or taxes related to the Conversion or the U.S. Merger; and those risks detailed from time-to-time under the caption “Risk Factors” and elsewhere in the Company’s SEC filings and reports, including the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 26, 2026, as amended, and in subsequent Quarterly Reports on Form 10-Q and the Registration Statement on Form S-4 filed in connection with the U.S. Merger, as well as future filings and reports by the Company and any filings made in connection with the U.S. Merger. Importantly, at this time, macro-economic conditions including inflation and fluctuating interest rates in the U.S. have impacted and may continue to impact Criteo’s business, financial condition, cash flow and results of operations. Accordingly, a forward-looking statement is neither a prediction nor a guarantee of future events or circumstances and those future events or circumstances may not occur. You should not place undue reliance on the forward-looking statements, which speak only as of the date of this release.

Except as required by law, the Company is under no obligation, and expressly disclaims any obligation, to update or alter any forward-looking statements contained in this release, whether as a result of new information, future events, changes in expectations or otherwise.

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SOURCE Criteo

Q2 FY27 Revenue Jumps 174.7% YoY to ₹204.53 Cr; H1 FY27 Revenue at Record ₹348.86 Cr

PAT Rises 46.9% YoY to ₹9.26 Cr in Q2 FY27; H1 FY27 PAT at ₹15.42 Cr, up 97.2% YoY

NEW DELHI, Nov. 4, 2026 /PRNewswire/ — Mach Travel Solutions Limited (BSE: MACHLTD), formerly known as Mach Conferences & Events Limited, announced its unaudited consolidated financial results for the second quarter and half year ended September 30, 2026.

H1 FY27 marked the Company’s highest-ever first-half Revenue from Operations since its incorporation in 2004, reflecting the growing scale of its business and continued expansion across diversified travel verticals.

During Q2 FY27, Mach Travel Solutions continued its transformation from a predominantly MICE-focused organisation into a diversified, technology-enabled integrated travel solutions platform. The Company continued to execute across Corporate Travel, MICE, B2B, Leisure, Inbound and Government & Institutional Projects, while advancing its B2C digital offering. The period also saw progress in corporate travel, institutional credentials and digital platform initiatives, supporting the Company’s strategy to build a broader travel ecosystem.

Consolidated Key Financials (₹ Cr.):

Financial Performance Review

Revenue from Operations stood at ₹204.53 crore in Q2 FY27 as compared to ₹74.46 crore in Q2 FY26, representing year-on-year growth of 174.7%, and sequential growth of 41.7% over ₹144.33 crore in Q1 FY27. For H1 FY27, Revenue from Operations stood at ₹348.86 crore as compared to ₹97.08 crore in H1 FY26, representing year-on-year growth of 259.4%.EBITDA (including Other Income) stood at ₹14.39 crore in Q2 FY27 as compared to ₹9.67 crore in Q2 FY26, a year-on-year growth of 48.8%, and a sequential growth of 55.98% over ₹9.23 crore in Q1 FY27. EBITDA Margin was 7.00% in Q2 FY27, a sequential improvement of approximately 69 basis points from 6.30% in Q1 FY27. For H1 FY27, EBITDA stood at ₹23.62 crore as compared to ₹11.34 crore in H1 FY26, a growth of 108.3%, with an EBITDA Margin of 6.71% against 11.49%.Profit After Tax (PAT) stood at ₹9.26 crore in Q2 FY27 as compared to ₹6.30 crore in Q2 FY26, representing year-on-year growth of 46.9%, and sequential growth of 50.2% over ₹6.16 crore in Q1 FY27. PAT Margin was 4.50% in Q2 FY27 as compared to 8.35% in Q2 FY26 and 4.21% in Q1 FY27. For H1 FY27, PAT stood at ₹15.42 crore as compared to ₹7.82 crore in H1 FY26, representing year-on-year growth of 97.2%, with a PAT Margin of 4.38% against 7.93%.Gross Merchandise Value (GMV) stood at approximately ₹532.54 crore in Q2 FY27, reflecting the overall scale of travel transactions handled across the Company’s diversified business verticals during the quarter. For H1 FY27, GMV stood at approximately ₹784.54 crore, comprising ₹252 crore in Q1 FY27 and ₹532.54 crore in Q2 FY27. The Company has commenced disclosure of GMV from Q1 FY27 to provide stakeholders with greater visibility into the scale of its underlying business activity.The Company’s performance during Q2 FY27 and H1 FY27 reflects continued execution across its integrated travel solutions platform, with ongoing efforts to scale newer verticals, strengthen technology-enabled offerings and build a more diversified mix of business.

FY27 Revenue Outlook

In view of the Company’s business performance and continued expansion across its diversified travel verticals, Mach Travel Solutions Limited has revised its FY27 revenue target upwards to more than 2.5x its FY26 Revenues.

The revised target reflects management’s expectations for the current financial year, supported by its expanding Corporate Travel business, established MICE operations and opportunities across the Company’s other travel segments.

The Company remains focused on translating business opportunities into sustainable revenue growth while maintaining operational discipline and strengthening its technology-enabled travel ecosystem.

Q2 & H1 FY27 Business & Operational Highlights

During Q2 FY27, the Company continued to build on its transition into an integrated travel solutions platform, with progress across Corporate Travel, MICE, Government & Institutional Projects and its emerging B2C digital offering.

Continued the Company’s strategic evolution from a predominantly MICE-focused organisation into an integrated travel solutions platform spanning Corporate Travel, MICE, B2B, Leisure and Government & Institutional Projects, alongside the development of its B2C Online Travel Agency (OTA) platform.Strengthened its credentials in Government & Institutional Projects after being recognised by the Ministry of Tourism, Government of India, through the National Integrated Database of Hospitality Industry (NIDHI), as an Experienced MICE Tour Operator. The recognition supports participation in government and institutional tenders where such credentials are required.Onboarded more than 140 corporate clients for its Corporate Ticketing services and Self-Booking Tool as of September 30, 2026. Since the launch of the dedicated Corporate Travel vertical in April 2026, the client base has expanded across a broad range of industries, including automotive and engineering, pharmaceuticals, financial services, technology, healthcare, education, FMCG, infrastructure, media and manufacturing. This milestone supports the Company’s focus on building long-term corporate relationships and recurring travel business.Opened Machtravel.com and the Mach Travel mobile application for public beta testing on August 31, 2026. The B2C platform brings together travel services including Flights, Hotels, Holidays, MICE, Cruises and Visa services, and will be further refined using user feedback.Continued to leverage its pan-India operating presence across Noida, New Delhi, Ahmedabad, Mumbai, Kolkata, Bengaluru and Bhubaneswar, alongside its international MICE execution capabilities, to serve corporate, institutional and leisure travel requirements.Maintained its focus on scaling the Company’s newer business verticals, deepening technology integration and identifying cross-selling opportunities across its customer base, while progressing the pipeline across its diversified travel businesses.With the foundations of the Company’s diversified travel platform continuing to take shape, the focus is increasingly shifting towards scaling each business vertical, strengthening client relationships and leveraging technology and cross-selling to support sustainable growth.

Commenting on the performance, Mr. Amit Bhatia, Chairman & Managing Director, Mach Travel Solutions Limited, said:

“H1 FY27 marks an important milestone for Mach Travel Solutions Limited, as we have achieved our highest-ever first-half Revenue from Operations of ₹348.86 crore since the Company’s inception in 2004, surpassing our entire FY26 revenue. Our Q2 FY27 revenue and PAT stood at ₹204.53 crore and ₹9.26 crore, respectively, while H1 FY27 revenue and PAT stood at ₹348.86 crore and ₹15.42 crore, respectively.

Over the years, we have strategically transformed Mach from a predominantly MICE-focused organisation into an integrated, technology-enabled travel solutions company. Our approach has been to build multiple complementary business verticals, strengthen our leadership capabilities and leverage technology to create a scalable business model.

The rapid expansion of our Corporate Travel business, alongside our established MICE operations, growing institutional presence and investments in digital platforms, reinforces our confidence in the direction we have chosen.

In light of our performance and the opportunities ahead, we have revised our FY27 revenue target upwards to more than 2.5x our FY26 revenue. This reflects our confidence in the Company’s growth potential and the progress of our diversification strategy.

Our ambition is not merely to grow revenue, but to build a strong, sustainable and future-ready travel solutions company with multiple growth engines. We remain committed to disciplined execution, long-term relationships and creating enduring value for our shareholders.”

About Mach Travel Solutions Limited

Mach Travel Solutions Limited (formerly Mach Conferences & Events Ltd.) is a publicly listed technology-enabled travel solutions company listed on the Bombay Stock Exchange (BSE: MACHLTD). Incorporated in 2004, the Company provides technology-enabled end-to-end travel solutions across Corporate Travel, MICE, B2B, Leisure, Inbound Travel and Government & Institutional Projects.

The Company has a strong pan-India presence with offices in Noida, New Delhi, Kolkata, Mumbai, Bengaluru, Bhubaneswar and Ahmedabad, and is accredited by and associated with leading national and international travel associations, including IATA, GBTA, PATA, IATO, ADTOI, OTOAI, SKÅL International, JATA, ICPB, EGAC and NIMA.

For more information, please visit https://www.machtravelsolutions.com.

The Company is also developing its B2C Online Travel Agency platform, Machtravel.com, as part of its strategy to build a comprehensive travel ecosystem.

Mach Travel Solutions Ltd.
Mrs. Swati Aggarwal
Company Secretary & Compliance Officer
Email:
compliance@machtravel.com 
Website:
machtravelsolutions.com 

Adfactors PR Pvt. Ltd.
Mrs. Disha Mody / Mr. Vaibhav Gupta / Ms. Kareena Jain
Investor Relations
Email:
disha.mody@adfactorspr.com 
vaibhav.gupta@adfactorspr.com 
kareena.jain@adfactorspr.com 
Website:
www.adfactorspr.com

Safe Harbour

This release contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Mach Travel’s future business developments and economic performance. While these forward-looking statements indicate our assessment and future expectations concerning the development of our business, several risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. Mach Travel Solutions undertakes no obligation to publicly revise any forward-looking statements to reflect future / likely events or circumstances.

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