Bioretec (BRETEC) Q2 2026 earnings summary

Executive summary

• Net sales for H1 2026 increased by 11.9% year-over-year to EUR 2.32 million, with Q2 net sales up 62.2% to EUR 1.1 million, driven by strong growth in the U.S. and Europe.

• Adjusted sales margin improved to 69.2% in H1 2026 from 56.8% a year earlier, reflecting a favorable sales mix and higher-margin markets.

• EBITDA loss narrowed to EUR -3.63 million in H1 2026 from EUR -4.56 million in H1 2025, with net loss at EUR -4.68 million, including EUR 1.01 million in rights issue costs.

• Strategic focus remains on expanding the RemeOs™ platform, operational efficiency, and disciplined execution.

Financial highlights

• Q2 2026 net sales rose 62.2% year-over-year, with 133.6% growth in the U.S. and 63.9% in Europe.

• Adjusted sales margin reached 68.0% in Q2 and 69.2% in H1 2026.

• EBITDA for H1 2026 was EUR -3.63 million, an improvement from EUR -4.56 million in H1 2025.

• Net loss for H1 2026 was EUR -4.68 million, improved from EUR -5.63 million in H1 2025.

• Cash and cash equivalents at period end were EUR 12.02 million, up 4.8% year-over-year.

Outlook and guidance

• Sufficient working capital is expected to support execution of the current business plan into Q3 2027.

• Strategic priorities for 2026-2028 include launching one new product every 12-18 months and establishing RemeOs™ as a leading absorbable product family.