Boule Diagnostics (BOUL) Q2 2026 earnings summary

Executive summary

• Q2 2026 was marked by a challenging market environment and geopolitical disruptions, notably in the Middle East and Russia, as well as currency headwinds, impacting sales and order intake.

• New CEO appointed in June 2026, prioritizing familiarization, operational excellence, and organizational transformation.

• Operational improvements included expanded commercial presence in West Africa and streamlined service support in the U.S. and LATAM.

• Gross margin improved to 40.9% from 38.7% last year, driven by a favorable product mix and increased OEM sales.

• Profit for the period was SEK -1.7 million, a significant improvement from SEK -7.1 million last year.

Financial highlights

• Net sales declined 13.3% year-over-year to SEK 112.2 million, mainly due to negative currency effects and moderate organic decline.

• Gross profit was SEK 45.9 million, with a gross margin of 40.9%.

• Adjusted EBIT was SEK 3.3 million, down from SEK 4.4 million year-over-year.

• Operating cash flow was SEK -2.4 million, compared to SEK 2.9 million last year.

• Liquidity at quarter-end was SEK 26.2 million, with SEK 20 million in cash and SEK 6 million in unused credit.

Outlook and guidance

• Expectation of improved sales in the second half of 2026, supported by upcoming instrument procurements and lower distributor inventories.

• Continued focus on cost management, cost savings, and returning to positive operating cash flow.