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Pexip Q3-26: Free cash flow triples as the shares fall

Secure video won new business in courts and defence. The larger meeting room business lost recurring revenue.

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Fjord Alpha
Nov 11, 2026
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Pexip generated $8.6m of free cash flow in Q3, up from $2.8m a year earlier. The shares closed the report day, 5 November, down 7% at NOK 68.10. More cash and a lower share price are worth a closer look. But how much of that cash generation can the business repeat?

Defence and justice customers are buying systems they can run themselves. Meanwhile, Pexip’s business connecting meeting rooms across platforms lost a little recurring revenue during the quarter. How much growth in secure video am I already paying for at NOK 68?

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