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Press release WAVESTONE Paris , July 29 , 2026 , 6pm Q1 2026/27 revenue down -2 % , annual targets adjusted Al Builders : targeted acquisition of a French Al & data player Revenue in € m Unaudited data 2026/27 consolidated 2025/26 consolidated Change Change at constant scope ' and forex basis 227.0 231.5 -2 % -2 % Q1 1 excluding Wivoo , consolidated since June 1 , 2025 . Organic decline of -2 % in Q1 2026/27 In Q1 2026/27 ( April 1 to June 30 , 2026 ) , Wavestone generated a consolidated revenue of € 227.0m , a decrease of -2 % compared with Q1 2025/26 . As a reminder , Wavestone has consolidated Wivoo , a French consulting firm , since June 1 , 2025 . On a constant scope and forex basis , Q1 2026/27 revenue was also down -2 % year - on - year . There was no working day impact in the period . Consultant utilization rate of 71 % in Q1 2026/27 ; average daily rate of € 926 The consultant utilization rate stood at 71 % in Q1 2026/27 , compared with 72 % over the whole of the 2025/26 fiscal year . The average daily rate was € 926 in Q1 2026/27 , down -1.3 % compared with € 938 over the previous fiscal year . On the business development side , the order book amounted to 4.5 months of work on June 30 , 2026 , compared with 4.4 months on March 31 , 2026 and 4.3 months on June 30 , 2025 . 6,122 employees on June 30 , 2026 ; staff turnover rate of 12 % on a rolling 12 - month basis On June 30 , 2026 , Wavestone had 6,122 employees , compared with 6,111 at the end of the 2025/26 fiscal year . At the end of June and on a rolling 12 - month basis , the staff turnover rate was 12 % , stable compared with the previous fiscal year . Difficult start to the 2026/27 fiscal year Wavestone experienced a challenging beginning to the 2026/27 fiscal year , with an insufficient utilization rate . In a still weak market environment , clients are shifting their new investments towards Al projects at an increasing pace , at the expense of other areas . As a pure consulting player , whose business is mainly driven by clients ' investments , Wavestone is particularly impacted by this reallocation , which weighs on its overall business . For the time being , the growth in Al - related projects , which now represent 22 % of the firm's Q1 total revenue ( vs. 17 % in FY 2025/26 ) , has not offset the decline in other activities . 1