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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.
VIGO Photonics
VIGO Photonics (VGO) investor relations material
VIGO Photonics Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary25 Sep, 2026
Executive summary
Revenue for H1 2026 reached PLN 45.35m, up 7.14% year-over-year, with strong growth in semiconductor materials and transport segments.
Operating profit (EBIT) was PLN 3.69m, reversing a loss from H1 2025; net profit was PLN 2.9m, up by PLN 6.02m year-over-year.
Adjusted EBITDA rose to PLN 11.47m, a 101.4% increase year-over-year, with adjusted net profit at PLN 5.57m.
Major events included the acquisition of InfraRed Associates in the US and a post-period share issue raising PLN 63m for infrared array production expansion.
Financial highlights
Revenue: PLN 45.35m (H1 2026) vs PLN 42.32m (H1 2025), +7.14% year-over-year.
Operating profit: PLN 3.69m (H1 2026) vs loss of PLN 0.44m (H1 2025).
Net profit: PLN 2.9m (H1 2026) vs net loss of PLN 3.11m (H1 2025).
Adjusted EBITDA: PLN 11.47m (H1 2026) vs PLN 5.69m (H1 2025).
Cash flow from operations: PLN 6.71m (H1 2026) vs outflow of PLN 0.92m (H1 2025).
Outlook and guidance
Management expects continued revenue growth in H2 2026, especially in infrared detectors and modules.
Significant revenue from infrared arrays expected from 2027 as serial production ramps up.
Strategic focus remains on global photonics market expansion and new product development.
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Latest events from VIGO Photonics
- Revenue up 10.1% y/y, but H1 2025 ends with net loss and negative EBIT; outlook remains positive.VGO
Q2 2025 - Revenue up 8.4% but net profit down sharply; new EIB financing to boost R&D and growth.VGOQ2 2024
- Military and semiconductor sales surged, but higher costs sharply reduced profitability.VGOQ3 2024
- Revenue up 4.4% but net loss posted; strategic R&D and military contracts drive future growth.VGOQ4 2024
- Q1 2025 revenue up 39% year-over-year, with improved margins and strong outlook for 2025.VGOQ1 2025
- Q3 2025 revenue surged 48.5% year-over-year, but profitability was pressured by rising costs.VGOQ3 2025
- Revenue up 19% and record backlog signal strong growth momentum for 2026.VGOQ4 2025
- Q1 2026 saw lower revenue and a net loss, but adjusted EBITDA and margins improved.VGOQ1 2026
Next VIGO Photonics earnings date
Q3 202627 Nov, 2026
VIGO Photonics
Next VIGO Photonics earnings date
Q3 202627 Nov, 2026
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