VO2 Cap (VO2) investor relations material

Executive summary

• Revenue for Q2 2026 increased by 7.0% year-over-year to 83,596 KSEK, with AdTech and digital out-of-home (DOOH) segments driving growth, while display advertising declined.

• EBITDA margin decreased to 5.9% from 7.7% in Q2 2025; adjusted EBITDA margin was 4.3%.

• Net result after tax for Q2 was 222 KSEK, a turnaround from -21,397 KSEK in Q2 2025 (including discontinued operations).

• Cash flow from operating activities improved to 8,738 KSEK in Q2, with total cash flow for the quarter at 5,863 KSEK.

Financial highlights

• Q2 revenue: 83,596 KSEK (+7.0% YoY); H1 revenue: 152,113 KSEK (+4.1% YoY).

• Q2 EBITDA: 4,891 KSEK (margin 5.9%); H1 EBITDA: 7,899 KSEK (margin 5.2%).

• Q2 EBIT: 543 KSEK (margin 0.6%); H1 EBIT: -323 KSEK (margin -0.2%).

• Net result after tax for H1: -931 KSEK (vs. -23,134 KSEK in H1 2025, including discontinued operations).

• Cash and cash equivalents at period end: 22,674 KSEK; equity ratio: 60.5%.

Outlook and guidance

• Continued focus on profitable growth, innovation, and long-term value creation.

• Investments in scalable segments and technology platforms expected to support future growth.

• AdTech and DOOH segments identified as primary growth drivers.