KTM's Recovery Is No Longer a Story — the Numbers Just Proved It

For two years, every KTM headline started with the same word: bankruptcy. On August 27, parent company Bajaj Mobility AG put out a first-half 2026 report that finally starts with a different word — profit.

The numbers aren't close. KTM, Husqvarna, and GASGAS sold 147,572 motorcycles worldwide in the first half of 2026, up from 81,336 in the same span last year — an 81% jump. Revenue followed: roughly €700 million in H1 2026 versus €373 million in H1 2025, a like-for-like increase of about 88% (MCNews, TopSpeed). Q2 alone saw 48,672 bikes sold outside India, a 71% jump over Q2 2025's 28,471, on revenue of €370 million versus €205 million a year earlier.

The bigger deal is what's underneath those numbers. Q2 2026 marked the group's first positive adjusted EBIT since it completed insolvency restructuring — EBITDA margin came in at 8.7% for the quarter, a stark reversal from the -55.6% margin in Q2 2025 when the company was still bleeding cash (TopSpeed, RideApart). Worldwide dealer inventory has also been trimmed by 10,190 units since the start of the year, which matters more than it sounds — bloated dealer stock was one of the symptoms that dragged KTM into insolvency in the first place. CEO Gottfried Neumeister called it a "splendid performance" on the earnings call, pointing to genuinely strong demand rather than a one-quarter bounce.

A quick reminder of how bad it got. KTM AG filed for judicial restructuring with self-administration in November 2024, after years of overproduction left dealers drowning in unsold inventory and the company unable to cover its bills. Creditors accepted a reorganization plan in February 2025 that paid them 30 cents on the dollar. Indian manufacturer Bajaj — long a minority partner building KTM's small-displacement bikes under license — stepped in with roughly €800 million to keep the lights on, then exercised a call option to take a 50.1% controlling stake in KTM's parent company, closing the full acquisition in November 2025 (Autocar Professional, RideApart). Less than a year into Bajaj running the show, this is the first quarterly report that actually looks like a company climbing out of a hole instead of digging deeper into one.

Why riders should care. A financially stable KTM isn't just a stock-ticker story — it's parts availability, warranty support, and whether your local dealer stays a KTM dealer. The company's already acting like the recovery is real: reporting from earlier this summer indicates Mattighofen and Munderfing are planning to move two of their four production lines from one shift to two sometime this autumn, with staffing increases to match. That's a factory betting on sustained demand, not just clearing a backlog.

None of this changes what a bankruptcy scare like KTM's 2024 filing does to buyer confidence — it's fair to still shop a KTM, Husky, or GASGAS with some caution about resale and long-term parts support. But "first positive EBIT since restructuring" and "adding a shift" are exactly the signals you want to see before that caution starts easing off.

Whatever's parked in your garage, the story's the same after a report like this: put in the miles and let the receipts sort themselves out. BraapTrax tracks every ride automatically, keeps your season stats honest, and lets you flag trail hazards for the next rider — so while manufacturers sort out balance sheets, you're not stuck sorting out where you rode three weekends ago.

Sources: MCNews — KTM/Bajaj Mobility Q2 2026 financial results, TopSpeed — KTM parent posts first profit since bankruptcy, RideApart — KTM Q2 2026 sales increase, Autocar Professional — Bajaj's €800M injection, RideApart — Bajaj takeover.