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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Athanase Innovation
Athanase Innovation (ATIN) investor relations material
Athanase Innovation Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary3 Nov, 2026
Executive summary
Q3 revenue was Mkr 0.6 versus Mkr 8.6 YoY; the securities fair-value change was Mkr -23.5 versus Mkr 4.2, and EBIT was Mkr -27.2 versus Mkr -18.3.
9M revenue reached Mkr 4.5 versus Mkr 20.0; EBIT improved to Mkr -50.1 from Mkr -54.7, while securities fair-value change was Mkr -3.8 versus Mkr 1.6.
Quarter-end cash was Mkr 321.6, or SEK 16.7 per share; reported portfolio markdowns mainly reflected lower valuations in funding rounds and transactions.
Financial highlights
Q3 revenue was entirely generated by IVISYS; 9M revenue also came entirely from IVISYS, which was deconsolidated on July 15 following the Palvora distribution.
Q3 unlisted securities fair-value change was Mkr -23.5; 9M change comprised Mkr 26.4 for listed securities and Mkr -30.2 for unlisted securities.
9M operating expenses were Mkr 55.0, including Mkr 39.3 attributable to Palvora and IVISYS; those entities reduced 9M EBIT by Mkr 16.7.
9M net cash flow was Mkr 76.7, including Mkr 142.1 proceeds from the Zalaris sale; operating cash flow was Mkr -47.0.
Outlook and guidance
Portfolio companies are expected to maintain cost discipline and pursue growth with a clear path to profitability amid higher rate expectations and continued uncertainty.
Management emphasized reducing portfolio companies’ reliance on external capital as funding at higher valuations remains challenging.
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Latest events from Athanase Innovation
- Improved results and strong liquidity from asset sales, with IVISYS driving operational focus.ATIN
Q2 2026 - Q1 2026 saw lower revenue, stable cash, and value gains from listed holdings despite operating loss.ATINQ1 2026
- Revenue and EBIT fell significantly as Ivisys project deliveries slowed and legal costs rose.ATINQ4 2025
- Sales and earnings fell, but portfolio companies delivered strong growth amid legal challenges.ATINQ3 2025
- Net sales grew but operating losses widened in Q2 2025, driven by negative securities value changes.ATINQ2 2025
- Q3 sales soared but losses deepened; board proposes share redemption and delisting.ATINQ3 2024
- Q2 saw higher revenue, strong value gains, and improved EBIT, led by Ivisys and Zalaris.ATINQ2 2024
- Sharp drop in sales and earnings; Ivisys spin-off and strong Zalaris, Pace growth.ATINQ1 2025
- Strong revenue growth and improved EBIT, with major capital returned to shareholders.ATINQ4 2024
Next Athanase Innovation earnings date
Q4 202626 Feb, 2027
Athanase Innovation
Next Athanase Innovation earnings date
Q4 202626 Feb, 2027
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Frequently asked questions
Athanase Innovation is an investment company that focuses on acquiring and managing holdings in businesses across various sectors, with an emphasis on innovation-driven companies. The company primarily targets firms that operate in technology, healthcare, and other industries where innovation is a key driver of growth. Athanase Innovation seeks to support these companies through strategic investments, aiming to foster long-term value creation. Its portfolio typically includes both private and publicly traded companies with high growth potential. The company is headquartered in Stockholm, Sweden, and its shares are listed on the TSX.