Hofseth BioCare (HBC) investor relations material

Executive summary

• Q2 2026 marked a pivotal quarter with structurally higher prices, improved yields, and a right-sized cost base, resulting in operational EBITDA at break-even and a restored balance sheet following a private placement.

• Despite processing 44% less raw material year-over-year, total operating revenue held at NOK 65.7 million, with gross margin rising to 50%.

• Commercial repricing led to over 100% increases in average selling prices for key products, and B2B Consumer Health revenue grew 72% sequentially.

• The company secured a global exclusive agreement for ProGoⓇ in network marketing and expanded its retail footprint to over 20 territories.

Financial highlights

• Total operating revenue: NOK 65.7 million (Q2 2025: NOK 68.4 million).

• Gross margin: 50.0% (Q1 2026: 43.5%).

• Operational EBITDA: NOK -0.6 million (Q2 2025: NOK 1.3 million), a NOK 17 million improvement from Q1 2026.

• EBITDA: NOK -2.7 million (Q2 2025: NOK -5.4 million).

• EBIT: NOK -12.9 million (Q2 2025: NOK -14.9 million).

• Profit before tax: NOK -23.2 million (Q2 2025: NOK -25.1 million).

• Cash and cash equivalents: NOK 108.0 million at quarter-end (Q2 2025: NOK 68.0 million).

• Equity ratio: -7.4% (Q2 2025: 0.1%).

Outlook and guidance

• The company expects continued commercial momentum, with structurally higher prices and improved profitability as production returns to full capacity by end of Q3 2026.

• Full-year prognosis for both sales and margin remains unchanged, with B2C profitability expected to improve in 2027 following supply model transition.

• R&D pipeline includes key clinical readouts in H2 2026 and new product launches in late 2026 and 2027.