EPISODE · Apr 23, 2026 · 9 MIN
SAP (SAP): The €135M stock crash bailout & the death of NPS [Q1 2026]
from Earnings Unscripted: Stock Earnings Calls & Analysis · host Miro Benes
SAP posted double-digit Q1 2026 profit growth, but the underlying numbers required financial engineering and a market plunge to look this good.In ~10 minutes:• Why a 28% stock drop artificially boosted operating margins.• Killing traditional NPS to hide frustrated legacy on-premise users.• How AI agents now fully resolve 20% of support tickets.• Using the Reltio acquisition to cover stalled Middle East deals.SAP’s proprietary data is an undeniable moat, powering incredible real-world AI wins. But below the headlines, management is quietly redefining cash flow metrics and relying on inorganic M&A growth to essentially buy their way to their unchanged 2026 guidance.Company: SAP SE (SAP) | Q1 FY2026AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.
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SAP (SAP): The €135M stock crash bailout & the death of NPS [Q1 2026]
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