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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.
Upgrade Invest Nordic
Upgrade Invest Nordic (UPGRAD) investor relations material
Upgrade Invest Nordic Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary11 Nov, 2026
Executive summary
Q3 2026 revenue was SEK 0; operating loss and net loss were SEK 165k, versus SEK 158k in Q3 2025.
For 9M 2026, net loss was SEK 559k, improved from SEK 609k in 9M 2025; NAV was SEK 4.9m, or SEK 2.4 per share, at 30 September.
Financial highlights
9M revenue was SEK 0; operating loss was SEK 565k versus SEK 647k, and net loss was SEK 559k versus SEK 609k YoY.
9M finance income and costs netted to SEK 6k, down from SEK 38k; external costs were SEK 565k versus SEK 647k, mainly consulting and listing-related costs.
Cash was SEK 305k, financial fixed assets SEK 4.159m, equity SEK 4.696m and short-term liabilities SEK 2k at 30 September 2026.
Outlook and guidance
A previously announced listing project remains active, but its timeline has been delayed further; completion is targeted when market conditions allow.
Following the sale of Climacheck’s operating subsidiary, the sale proceeds are intended for distribution to Climacheck shareholders in 2027; the majority is expected to accrue in 2027.
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Latest events from Upgrade Invest Nordic
- Operating loss narrowed and IPO plans delayed amid challenging small-cap market.UPGRAD
Q2 2026 - Operating losses narrowed and major holding Climacheck was sold, with proceeds delayed.UPGRADQ1 2026
- Net sales fell to zero, but improved losses and a major exit set up new investment capacity.UPGRADQ4 2025
- Losses narrowed, NAV per share at 2.72 SEK, and portfolio focused on unlisted growth firms.UPGRADQ3 2025
- Losses narrowed and net asset value held steady, with a company listing expected in autumn 2025.UPGRADQ2 2025
- Net loss deepened to -1,295 TSEK with no revenue, but NAV remains stable at 6.67 MSEK.UPGRADQ3 2024
- Net asset value fell to 6.9 MSEK as losses and write-downs offset structural deal gains.UPGRADQ2 2024
- Improved Q1 results and strategic spin-off highlight resilience amid market uncertainty.UPGRADQ1 2025
- Revenues rose and operating losses narrowed as Upgrade Invest Nordic AB completed two listings.UPGRADQ4 2024
Next Upgrade Invest Nordic earnings date
Q4 202617 Feb, 2027
Upgrade Invest Nordic
Next Upgrade Invest Nordic earnings date
Q4 202617 Feb, 2027
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Frequently asked questions
Upgrade Invest Nordic operates as an investment and financial services company specializing in portfolio management and advisory solutions. The company provides services tailored to institutional and private investors, including investment strategies, asset allocation, and risk management. The company is headquartered in Stockholm, Sweden, and its shares are listed on the Spotlight Stock Market.