IFS reported annual recurring revenue above €1.3 billion at the end of the third quarter of 2026, a 24% year-on-year increase, as demand for Industrial AI software accelerated across asset-intensive industries. New Industrial AI bookings in the first nine months already exceeded three times the total recorded in 2025, with LATAM Airlines among the customers adopting applications including aviation maintenance.
Recurring revenue accounted for 85% of IFS’s total revenue. The company attributed the performance to industry-specific software for manufacturing, asset maintenance, field service and supply-chain operations, with customers also including Tesco, Yeo Valley, Mitsubishi Electric and Eight Group.
More than 100 customers applied during the quarter to pilot IFS Intelligence and its digital workers ahead of broader availability. The pilots are part of IFS’s effort to move customers from testing artificial-intelligence tools towards operational use across areas such as asset-lifecycle management, field service and aircraft maintenance.