Aino Health (AINO) Q2 2026 earnings summary

Executive summary

• Transition to a scalable SaaS-based business model continued amid a challenging financial environment and an ongoing public tender offer process.

• Several new customer agreements were signed in Finland and Sweden, adding approximately 5,500 new subscriptions, though revenue impact will be gradual due to implementation timelines.

• Net sales for Q2 2026 were KSEK 6,704, down from KSEK 7,471 in Q2 2025, mainly due to delays in customer project starts.

• Cash position remains constrained, requiring strict cost control and limiting growth investments.

Financial highlights

• Q2 2026 net sales: KSEK 6,704 (Q2 2025: KSEK 7,471); H1 2026 net sales: KSEK 12,236 (H1 2025: KSEK 14,848).

• Q2 2026 loss after financial items: KSEK -2,603 (Q2 2025: KSEK -587); H1 2026: KSEK -4,815 (H1 2025: KSEK -1,141).

• Operating loss for Q2 2026: KSEK -2,387 (Q2 2025: KSEK -341).

• Cash and bank balances at June 30, 2026: KSEK 1,916.

• Cash flow from operating activities for H1 2026: KSEK -4,199.

Outlook and guidance

• Additional financing is required to continue international expansion and accelerate subscription growth; without it, expansion pace will be limited to internally generated cash flow.

• Focus remains on recurring SaaS revenue, partner-led scalability, and operational discipline.

• Revenue from new agreements will materialize gradually, with some implementations planned for late 2026 and early 2027.