Financial research updates for q.beyond AG and Advanced Blockchain AG

Montega AG has issued an update on q.beyond AG, maintaining a ‘Buy’ recommendation despite a lowered 2026 forecast. Preliminary Q3 figures showed revenue of 43.2 million EUR, a slight year-on-year decrease. However, EBITDA fell significantly to -4.8 million EUR, compared to 3.0 million EUR in the previous year. This decline is attributed to transformation costs related to AI, additional software licensing fees, and higher-than-expected costs during the AI implementation phase.

GBC AG released research on Advanced Blockchain AG, also maintaining a ‘Buy’ recommendation. The report highlights progress within its investment portfolio, noting that Polymer reported a monthly cross-chain transfer volume exceeding 500 million USD in September 2026. Additionally, Silencio’s Voice-AI division saw revenue grow from 0.10 million USD in Q1 to 0.30 million USD in Q2 2026. The company is also undergoing an operational realignment under the ABAG 2.0 framework.