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AAC Clyde Space (AAC) investor relations material
AAC Clyde Space Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales for Q2 2026 rose 51.9% year-over-year to SEK 112.0 M, with strong growth in both Products & Missions and Data & Services segments.
Achieved a foundational and busy quarter, signing the second part of the EPS-Sterna contract and launching the next phase of Inflection for 12 satellites.
VIREON-1 and VIREON-2 satellites launched and are in commissioning, with first light announced for VIREON-1.
Order backlog reached a record SEK 1,197.1 M, bolstered by major contracts including INFLECION and EPS-Sterna programmes.
Cash flow from operating activities was SEK 106.8 M, driven by customer prepayments and contract advances.
Financial highlights
Q2 2026 net sales: SEK 112.0 M (Q2 2025: SEK 73.7 M), up 51.9%.
EBITDA: SEK 10.7 M (Q2 2025: SEK 3.1 M); EBIT: SEK -2.9 M (Q2 2025: SEK -10.8 M).
Net result after tax: SEK -3.3 M (Q2 2025: SEK -16.4 M).
Cash and cash equivalents at period end: SEK 126.9 M (Q2 2025: SEK 28.0 M).
Equity ratio: 73% (Q2 2025: 71%).
Outlook and guidance
Full-year 2026 guidance: net sales of SEK 440–510 M, EBITDA margin around 10%, and positive operating cash flow.
Major programmes (INFLECION, EPS-Sterna, VIREON, Sedna) underpin revenue visibility and future growth.
Revenue from VIREON satellites expected to start in Q3, with full ramp-up into next year.
Strong demand expected to continue, with focus on execution and expansion in both business segments.
- Record contract doubled backlog to SEK 1.1B, offsetting weak Q1 sales and negative EBITDA.AAC
Q1 2026 - 2026 guidance targets SEK 440–510M sales, 10% EBITDA, and growth from a strong order backlog.AAC
Guidance - 2025 setbacks were offset by strong data growth and new funding, setting up 2026 for recovery.AAC
Q4 2025 - SEK 140 million investment secures growth and fully funds key maritime intelligence programs.AAC
Investor Update - Q3 net sales dropped 10.1% with negative EBIT, but Data & Services surged over 200%.AAC
Q3 2025 - Q2 2025 delivered 37.5% sales growth, positive EBITDA, and Data & Services up 270%.AAC
Q2 2025 - Transitioning to data-driven growth with Cyclops and VDES, targeting profitable expansion.AAC
Small Cap Growth Virtual Investor Conference - Net sales up 3.6%, EBITDA positive, and strong backlog supports growth outlook.AAC
Q1 2025 - Record sales, strong cash flow, and major project advances set the stage for 2025 growth.AAC
Q4 2024
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