Turbo Energy, S.A. (TURB): Financial results for H1 2026
Turbo Energy, S.A. (TURB) furnished an SEC Form 6-K — earnings release. Exhibit 99.3 TURBO ENERGY DELIVERS RECORD FIRST-HALF 2026 REVENUE AND SWINGS TO POSITIVE OPERATING INCOME Revenue increased 172.7% to €15.0 million (approximately $17.2 million); operating income turned positive, representing a €1.7 million year-over-year improvement VALENCIA, Sp
How this was made
The 30-second read
Why it matters
Earnings beat and profit swing suggest a potential re‑rating, but scale is modest.
Market read
First‑time earnings disclosure for a micro‑cap could trigger short‑term price movement.
What to watch
Future financing needs and debt restructuring risks are not fully disclosed.
Turbo Energy delivers record first-half 2026 revenue and swings to positive operating income
Revenue increased 172.7%, the Company recorded positive operating income and net income, and shareholders’ equity and working capital improved. Gross margin declined to 16.5% from 24.0%, operating cash flow remained negative, and other expense increased.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total Revenue, six months ended June 30, 2026other | € 15,033,238 | – | 172.7% |
| Revenue, six months ended June 30, 2026other | € 7,835,027 | – | – |
| Revenue - related parties, six months ended June 30, 2026other | € 7,186,691 | – | – |
| Other operating income, six months ended June 30, 2026other | € 11,520 | – | – |
| Cost of revenues, six months ended June 30, 2026other | € 12,549,216 | – | 199.7% |
| Gross profit, six months ended June 30, 2026other | €2,484,022 | – | 87.6% |
| Gross margin, six months ended June 30, 2026other | 16.5% | – | – |
| Selling and administrative, six months ended June 30, 2026other | € 1,378,224 | – | – |
| Selling and administrative - related parties, six months ended June 30, 2026other | € 101,744 | – | – |
| Salaries and benefits, six months ended June 30, 2026other | € 400,755 | – | – |
| Salaries and benefits - related parties, six months ended June 30, 2026other | € 69,063 | – | – |
| Bad debt expense, six months ended June 30, 2026other | € 23,694 | – | – |
| Total operating expenses, six months ended June 30, 2026other | €1,973,480 | – | decreased 20.7% |
| Total Cost and Expenses, six months ended June 30, 2026other | € 14,522,696 | – | – |
| Income (loss) from operations, six months ended June 30, 2026other | € 510,542 | – | year-over-year improvement of €1,674,816 |
| Total Other Income (Expense), six months ended June 30, 2026other | € (444,895) | – | – |
| Net Income (Loss) Before Income Tax, six months ended June 30, 2026other | € 65,647 | – | – |
| Net Income (Loss), six months ended June 30, 2026other | € 65,647 | – | – |
| Basic Net Income (Loss) per Ordinary Share, six months ended June 30, 2026other | € 0.00 | – | – |
| Diluted Net Income (Loss) per Ordinary Share, six months ended June 30, 2026other | € 0.00 | – | – |
| Weighted Average Number of Ordinary Shares Outstanding - Basic, six months ended June 30, 2026other | 59,415,835 | – | – |
| Weighted Average Number of Ordinary Shares Outstanding - Diluted, six months ended June 30, 2026other | 61,143,577 | – | – |
| Net cash used in operating activities, six months ended June 30, 2026other | € (3,658,411) | – | – |
| Net cash used in investing activities, six months ended June 30, 2026other | € (25,340) | – | – |
| Net cash provided by financing activities, six months ended June 30, 2026other | € 3,694,208 | – | – |
| Net change in cash, six months ended June 30, 2026other | € 10,457 | – | – |
| Cash - end of period, June 30, 2026other | € 503,586 | – | – |
What drove it
- Revenue growth reflected continued expansion of the intelligent energy solutions business, including execution of the 366 MWh industrial energy-storage project and continued activity across the broader product portfolio.
- Cost of revenue reflected the substantial increase in sales volume and the greater contribution of large-scale industrial project deliveries.
- Positive operating income reflected higher gross profit and lower operating expenses.
- The improvement in working capital primarily reflected the restructuring of €4,870,491 of bank debt into long-term financing, equity-offering proceeds and a reduction in current liabilities.
Concerns
- Gross margin was 16.5%, compared with 24.0% in the first half of 2025.
- Total other expense increased to €444,895 from €233,441, primarily due to higher interest expense and foreign-exchange losses.
- Net cash used in operating activities was € (3,658,411).
- The Company identified improving project mix, margins and working-capital conversion into cash as priorities.
What to watch
- Progress in improving project mix and margins.
- Conversion of working capital into cash.
- Contribution from proprietary energy-management technology and service-based business models.
- Execution of the 366 MWh industrial energy-storage project.
Balance sheet and cash flow
- Cash and cash equivalent was € 503,586 as of June 30, 2026, compared with € 493,129 as of December 31, 2025.
- Shareholders’ equity was € 5,518,529 as of June 30, 2026, compared with € 1,599,640 as of December 31, 2025.
- Working capital was €6,547,449 as of June 30, 2026, compared with negative working capital of €910,135 as of December 31, 2025.
- Bank loans - current portion were € 1,175,408 and bank loans were € 3,433,687 as of June 30, 2026.
- Debt bond - current portion was € 253,352 and debt bond - noncurrent portion was € 1,934,029 as of June 30, 2026.
- Net cash used in operating activities was € (3,658,411), compared with € (1,339,904) in the first half of 2025.
- Net proceeds from Issuance of common stock through public offering were € 3,786,022.
- Net cash provided by financing activities was € 3,694,208, compared with € 779,309 in the first half of 2025.
Analysis
Turbo Energy reported record first-half revenue of €15,033,238, up 172.7% from €5,512,458. The release attributed the increase to expansion in intelligent energy solutions, execution of its 366 MWh industrial energy-storage project and activity across the broader portfolio. Revenue - related parties was €7,186,691, compared with €410,342 in the prior-year period.
The operating result moved to income of €510,542 from a loss of €1,164,274, a stated year-over-year improvement of €1,674,816. Gross profit increased 87.6% to €2,484,022, while total operating expenses decreased 20.7% to €1,973,480. However, cost of revenues rose 199.7% to €12,549,216, exceeding revenue growth, and gross margin declined to 16.5% from 24.0% amid the greater contribution from large-scale industrial project deliveries.
After total other expense of €444,895, which increased from €233,441 primarily because of higher interest expense and foreign-exchange losses, the Company reported net income of €65,647 versus a net loss of €1,397,715. Basic and diluted net income per ordinary share were both €0.00, compared with basic and diluted losses per ordinary share of € (0.03).
The balance sheet strengthened through financing and debt restructuring. Shareholders’ equity rose to €5,518,529 from €1,599,640, and working capital improved to €6,547,449 from negative working capital of €910,135. The Company cited €3.78 million in net proceeds from registered direct offering and at-the-market issuances, along with restructuring of €4,870,491 of bank debt into long-term financing. Cash and cash equivalent was €503,586 at June 30, 2026.
Cash conversion remains the central financial watchpoint. Net cash used in operating activities was € (3,658,411), compared with € (1,339,904) in the prior-year period, while financing activities provided €3,694,208, including €3,786,022 in net proceeds from issuance of common stock through public offering. Management set priorities of improving project mix and margins, converting working capital more efficiently into cash, and increasing the contribution of proprietary energy-management technology and service-based models. The release provided no quantified forward guidance.
Management, verbatim
The first half of 2026 marks an important financial milestone for Turbo Energy. We delivered record revenue and moved from an operating loss to positive operating income. This performance reflects the growing scale of our project execution and the investments we have made in technology and industrial energy-storage capabilities.
Mariano Soria, Chief Executive Officer of Turbo Energy
Our next priority is to build on this progress by improving project mix and margins, converting working capital more efficiently into cash and increasing the contribution of our proprietary energy-management technology and service-based business models. We believe these capabilities can create a more differentiated and higher-value energy-storage platform.
Mariano Soria, Chief Executive Officer of Turbo Energy
Not in the filing
stated, not guessed- Financial reporting framework is not identified as IFRS, local GAAP or non-GAAP in the filing text.
- Non-GAAP financial measures.
- Free cash flow.
- Revenue by operating segment.
- Forward guidance for revenue, gross margin, operating expenses, tax rate or other metrics.
- Prior outlook for comparison.
- Dividends and share repurchases.
- Tax rate.
- CFO commentary.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Turbo Energy, a Nasdaq‑listed energy‑storage integrator, filed a Form 6‑K with its H1 2026 results.
Ticker impact
Turbo Energy released its unaudited H1 2026 earnings, showing record revenue and a swing to positive operating income.
upward pressure as investors price in earnings beat and profit turnaround
The company posted record revenue and positive operating income, a material improvement over the prior year, likely attracting demand.
Market effects
Highlights growth potential in the energy‑storage and intelligent‑energy‑management sector.
Positive for European renewable‑tech equities, especially Spain‑based firms.
May boost interest in niche clean‑tech micro‑caps worldwide.
Counterpoint
The profit margin remains low and cash burn is high; the rally could be short‑lived.
Key entities
- companyTurbo Energy, S.A.
Nasdaq‑listed energy‑storage integrator reporting H1 2026 results.
- executiveMariano Soria
CEO of Turbo Energy, quoted on performance.
