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Subgen AI (MAGNA) investor relations material
Subgen AI Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Secured a 58% majority stake in Substrate Al, enhancing control and future growth prospects.
Received EUR 39 million investment in Substrate Al from private investors and the Spanish government to fund expansion.
Strategic priorities are the growth of Substrate Al and the acquisition/development of Link Securities.
Revenue grew 6.1% year-over-year in EUR for H1 2026, despite challenging macroeconomic and geopolitical conditions.
Financial highlights
Net sales for H1 2026 at constant exchange rates: SEK 113 million (EUR 10 million), up 6.1% year-over-year.
Q2 2026 net sales: SEK 62 million (EUR 5.7 million), down 5.6% from Q2 2025 due to a strong prior-year quarter.
H1 2026 EBITDA: SEK -11 million (EUR -1.0 million), impacted by non-recurring acquisition costs.
Adjusted H1 2026 EBITDA (excluding non-recurring costs): SEK -5.1 million (EUR -0.5 million).
H1 2026 operating loss: SEK -26 million (EUR -2.4 million).
H1 2026 net loss after tax: SEK -44 million (EUR -4.1 million).
Gross margin improved to 84.2% in H1 2026 from 78.3% in H1 2025.
Outlook and guidance
Substrate Al is positioned for accelerated growth with new funding and strategic focus.
Continued investments in technology, infrastructure, and personnel to support expansion.
Macroeconomic and geopolitical uncertainties, including the Iran war, may impact future performance.
- Net sales rose 32% year-over-year, with acquisitions and margin gains driving future growth.MAGNA
Q1 2026 - Strong sales growth and improved margins, with one-off RTO costs impacting 2025 results.MAGNA
Q4 2025 - Reverse takeover of SubGen AI Limited agreed as losses deepen and equity turns sharply negative.MAGNA
Q2 2025 - Losses narrowed and new financing secured as Magnasense pivots to oral health diagnostics.MAGNA
Q3 2024 - Q2 2024 saw reduced losses, new funding, and key milestones for Magnasense.MAGNA
Q2 2024 - Losses widened in Q4 2024 as Magnasense pivots to new funding and product focus.MAGNA
Q4 2024
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