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First Venture Sweden (FIRST) investor relations material
First Venture Sweden Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
NAV was SEK 185.8m at 30 September, down 5.6% QoQ; NAV/share fell to SEK 3.52 from SEK 3.73. First North All-Share Index declined 1.6% in Q3.
The share price was SEK 1.26 and the NAV discount was 64.2%, versus 64.3% at the prior quarter-end.
Financial highlights
Q3 operating loss was SEK 0.9m versus SEK 1.8m a year earlier; net loss was SEK 2.1m versus SEK 2.5m.
9M operating loss was SEK 3.649m versus SEK 6.126m; net loss was SEK 8.079m versus SEK 7.640m.
Q3 included a SEK 1.356m write-down of financial fixed assets; the 9M write-down was SEK 2.277m, partly offset by SEK 0.565m income from group-company shares.
Outlook and guidance
Zigrid’s goal was first product deliveries by year-end, but technical development remains behind; market launch is likely 6–12 months later, and its 2026 targets are expected to be missed.
Tribonex is testing with new potential customers and aims to move programs into production in 2027 or 2028, depending on test phase.
Sprint’s ability to sell projects needs to exceed its historical average of about 0.5 projects per year; the outlook on the holding remained positive.
- NAV up 5.7% to SEK 197m, driven by Sprint Bioscience; Humble Group fully divested.FIRST
Q2 2026 - NAV unchanged at 186.5 MSEK, listed assets rose, unlisted fell, 4.4 MSEK invested.FIRST
Q1 2026 - NAV dropped sharply in Q4 due to portfolio write-downs, despite new capital and investments.FIRST
Q4 2025 - NAV declined 6.0% in Q3 2025, driven by a major write-down in Verduro Group.FIRST
Q3 2025 - NAV dropped 4.47% in Q2 2025, but the share price increased by 14.7%.FIRST
Q2 2025 - Substansvärdet steg två kvartal i rad och portföljen visar fortsatt tillväxt.FIRST
Q3 2024 - Substansvärdet steg till 228,5 MSEK i Q2, trots fortsatt marknadsosäkerhet.FIRST
Q2 2024 - Substansvärdet föll -7.2% i Q1, men Lyckegård och Mendi Innovation visade stark tillväxt.FIRST
Q1 2025 - Stark Q4-utveckling med substansvärde klart över index och flera portföljbolag i tillväxt.FIRST
Q4 2024
Next First Venture Sweden earnings date
Next First Venture Sweden earnings date
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