Boule Diagnostics (BOUL) Q2 2026 earnings summary

Executive summary

• Net sales were SEK 112.2M, down 13.3% YoY; organic sales growth was -5.3% and currency effects were -8.0%.

• Challenging geopolitical conditions, currency headwinds and lower order intake weighed on performance.

• Johan Folkunger became CEO in June 2026, with a focus on operational excellence and strategic priorities.

• Q2 was the first quarter with a consolidated site in Sweden and streamlined operations teams.

Financial highlights

• Gross profit was SEK 45.9M; gross margin improved to 40.9% from 38.7%, supported by favorable product mix and increased OEM sales.

• Adjusted operating profit was SEK 3.3M, with a 2.9% margin, versus SEK 4.4M and 3.4% in Q2 2025.

• Reported operating profit was SEK 0.4M versus a SEK 0.1M loss; profit for the period was SEK -1.7M versus SEK -7.1M.

• Earnings per share were SEK -0.04 versus SEK -0.15 last year.

Outlook and guidance

• Upcoming instrument procurements and lower distributor inventories support expectations of improved sales in the second half of 2026.

• Continued focus on cost savings and working capital management to support positive operating cash flow.