Axolot Solutions (AXOLOT) Q2 2026 earnings summary

Executive summary

• Focused on expanding in Latin America with pilot installations and customer tests in Mexico and Peru, while supporting the first large-scale AxoPur® installation at Aspa Bruk in Sweden.

• The Aspa Bruk project, a key reference for future sales, experienced delays but achieved a successful guarantee run on unbleached pulp; further tests on bleached pulp are planned.

• Market interest in AxoPur® remains strong, especially in regions facing water scarcity and stricter environmental regulations.

Financial highlights

• Net sales for Q2 2026 were 1,000 tkr, down from 2,240 tkr in Q2 2025, mainly from sales of AxoPur electrodes and reactors.

• Operating result for Q2 2026 was -2,868 tkr (Q2 2025: -2,166 tkr); net result per share was -0.01 kr (unchanged year-over-year).

• Cash flow from operating activities and investments in Q2 2026 was -4,190 tkr (Q2 2025: -878 tkr); cash and cash equivalents at period end were 13,763 tkr.

• Equity at period end was 80,029 tkr, up from 69,829 tkr a year earlier.

Outlook and guidance

• Delays in the Aspa Bruk project have slowed decision processes in international projects, but commercial opportunities and interest in AxoPur® are increasing.

• The company remains confident in AxoPur®'s commercial potential, supported by promising results from Latin American pilots.