Tempest Security (TSEC) investor relations material

Executive summary

• Revenue grew by 5.6% year-over-year to 153.2 MSEK in Q2 2026, with net income turning positive at 0.3 MSEK compared to -9.0 MSEK last year.

• Improved profitability driven by cost control and organizational stability, but growth rate remains below expectations, prompting intensified sales efforts.

• The core Surveillance segment showed strong growth and margin improvement, while Special Services saw revenue decline but maintained profitability.

Financial highlights

• Q2 2026 EBITDA was 3.4 MSEK (up from -5.5 MSEK), with adjusted EBITDA at 4.2 MSEK (4.0 MSEK), and an adjusted EBITDA margin of 2.8%.

• Operating income reached 0.8 MSEK (from -8.3 MSEK), and adjusted operating income was 1.6 MSEK (1.2 MSEK).

• Net income for Q2 was 0.3 MSEK (from -9.0 MSEK); for H1, net income was 1.7 MSEK (from -11.7 MSEK).

• Cash flow from operations before working capital changes was 2.5 MSEK in Q2 and 8.3 MSEK for H1.

Outlook and guidance

• Focus for H2 2026 is on accelerating sales, developing existing customer relationships, and leveraging Nordic market opportunities.

• Growth ambition remains high, with a strategic push toward larger, more strategic customers and cross-border expansion.