ITSEC Asia Delivers Stronger Q3 Performance as Revenue Grows 39%, Gross Profit Rises 57%

Q3 2026 Financial Highlights:

• Q3 2026 revenue increased by 39% year on year to Rp92.8 billion.
• Gross profit grew by 57%, outpacing revenue growth, while gross margin improved by 3.4 percentage points to 29.9%.
• Operating loss was nearly halved to Rp15.7 billion from Rp30.4 billion in Q3 2025. Pre-tax loss was also reduced by approximately half, while net loss declined by 53%.
• Other income improved from a Rp2.7 billion expense in Q3 2025 to a Rp1.9 billion gain in Q3 2026.
• For the first nine months of 2026, net profit reached Rp22.6 billion, increasing by 96% year-on-year.

ITSEC Asia leading Cybersecurity and AI Company in Indonesia and APAC region is entering the final months of 2026 with stronger business momentum, supported by accelerating quarterly revenue growth, improving gross margins and continued progress in operational efficiency. ITSEC Asia is building on this momentum by expanding its AI and cybersecurity portfolio and strengthening its capabilities to support long-term growth.

For the third quarter ended 30 September 2026, ITSEC Asia’s consolidated revenue increased by 39% year-on-year to Rp92.8 billion. Gross profit grew by 57%, outpacing revenue growth, while gross margin improved by 3.4 percentage points to 29.9%.

ITSEC Asia’s operating loss narrowed from Rp30.4 billion in Q3 2025 to Rp15.7 billion in Q3 2026. Pre-tax loss approximately halved, while net loss decreased by 53% year-on-year. The Company also recorded other income of Rp1.9 billion in Q3 2026, compared with an expense of Rp2.7 billion in 3Q 2025.

For the first nine months of 2026, ITSEC Asia recorded net profit of Rp22.6 billion, an increase of 96% compared with the same period last year. This nine-month result includes a significant tax benefit arising from prior period adjustments and should be considered separately from ITSEC Asia's quarterly operating performance.

Patrick Dannacher, President Director of ITSEC Asia, said “Seeing revenue and gross profit grow at a faster pace this quarter is encouraging. We have been working to strengthen the fundamentals of our business and develop solutions that address the changing needs of our customers. There is still work to do, but we believe the progress made this quarter puts us in a stronger position as we move into the final months of the year.”

Strengthening the financial position

As of 30 September 2026, ITSEC Asia’s consolidated total equity stood at Rp304.1 billion, an increase of approximately 18.7% compared with Rp256.2 billion at the end of 2025. Trade receivables decreased by approximately 22.3%, from Rp57.7 billion to Rp44.8 billion compared to 31 December 2025.

ITSEC Asia also recorded contract assets of Rp214.1 billion, compared with Rp187.7 billion at the end of 2025. These represent work performed under customer contracts for which the right to payment remains subject to billing milestones or other contractual conditions.

Expanding AI and Cybersecurity capabilities

Alongside its financial progress, ITSEC Asia continued to develop its business portfolio and strengthen its position in the evolving AI and cybersecurity market.

In July 2026, ITSEC Asia launched Bronyx AI, an AI-assisted autonomous penetration testing platform designed to help organisations identify and assess security vulnerabilities. The platform expands ITSEC Asia’s AI enabled cybersecurity capabilities and supports organisations in addressing increasingly complex digital threats.

In March 2025, ITSEC Asia established the ITSEC Cyber & AI Academy, a dedicated subsidiary focused on developing capabilities in cybersecurity and artificial intelligence. Through structured training and industry oriented learning programmes, the Academy aims to contribute to the development of skilled professionals needed to support the region’s growing digital economy.

ITSEC Asia also continued to engage with business leaders, policymakers and technology stakeholders. On 20 October 2026, ITSEC Asia held AICX 2026 at Bali Beach Convention in Sanur, Bali, as part of Bali Tech Week. The event brought together leaders from across industries to discuss the relationship between artificial intelligence, cybersecurity and digital resilience.

These initiatives reflect ITSEC Asia’s broader strategy to develop solutions, technology platforms and talent capabilities that address the evolving needs of organisations across the region.

Looking ahead

With stronger revenue growth, improving gross margins and progress in reducing operating losses, ITSEC Asia enters the final quarter of 2026 focused on sustaining business momentum and strengthening execution across its core operations.

ITSEC Asia will continue to develop its AI and cybersecurity solutions, expand market opportunities for its technology platforms and build the talent capabilities needed to support its next phase of growth. As organisations across industries accelerate their adoption of AI and face increasingly complex digital risks, ITSEC Asia sees significant opportunities to support their evolving security needs.

Patrick Dannacher added, “We are optimistic about the opportunities ahead. The demand for stronger cybersecurity capabilities will continue to grow as businesses adopt AI and become more digitally connected. We see significant potential to build on our technology, strengthen our market presence and create greater value for our customers and shareholders. Our focus is to turn that opportunity into sustainable growth for ITSEC Asia.”