NuWays cuts NFON price target to EUR 5, keeps buy rating

• NuWays reiterated a BUY on NFON, cutting its 12-month target price to EUR 5 from EUR 8.3.
• Move followed weak preliminary Q2 and H1 results, alongside a sharp guidance cut that implies no return to growth in FY26.
• Q2 sales fell 5.4% to EUR 20.9 million; adjusted EBITDA rose to EUR 2.6 million, lifting margin to 12.5%.
• Revised FY26 guidance: sales EUR 84.5-86 million; adjusted EBITDA EUR 9.5-10.5 million.
• NuWays sees AI products gaining traction, yet too small to offset declines in the legacy cloud PBX business.

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_26530) on August 14, 2026, and is solely responsible for the information contained therein.