Oslo, 20 August 2026
Financial highlights:
The revenue decline was primarily driven by lower headcount combined with increased competition in the public sector and the effects of previously communicated project roll-offs and client changes. Hourly rates increased above the consumer price index, reflecting commercial discipline and recognized client value. Utilisation and profitability were negatively impacted by reduced scale and public sector spending constraints, particularly in Oslo. Cash flow from operations was negative NOK 14.0m (positive 18.8m), affected by seasonal settlements of current liabilities, including holiday pay and VAT, alongside changed schedules for monthly tax settlements.
CEO comment: "During the second quarter, we continued to execute our strategy in a market where spending remains constrained and client decision-making is selective. The reduction in revenue and headcount reflects both market dynamics and our deliberate choice to maintain strict commercial discipline. At the same time, we are seeing encouraging signs through stronger strategic client dialogue and growing demand for integrated technology and business expertise. Our admission to Anthropic's Claude Partner Programme and new AI advisory engagements demonstrate our ability to create practical, measurable client value. Backed by disciplined cost management, we are steadily building a foundation for long-term growth and strengthened competitiveness," says CEO Kristine Lund.
Commercial highlights:
Outlook:
Market conditions are expected to remain moderate in the near term, with continued pricing pressure and cautious client behavior. Webstep does not expect significant immediate demand recovery. However, the company's focus on deep client relationships, industry expertise, cross-organizational collaboration, and disciplined cost control positions Webstep well to gradually improve financial performance as market conditions evolve.