C-RAD (CRAD) Q3 2026 earnings summary

Executive summary

• Q3 order intake fell 29% YoY to MSEK 76 and revenue fell 24% to MSEK 85.4, amid weaker EMEA and APAC results and delayed customer decisions.

• Services growth and a 76% gross margin partly offset lower product sales; the three-year transformation plan focuses on commercial conversion, recurring revenue and innovation.

Financial highlights

• Q3 gross profit was MSEK 64.9, down 22% YoY; EBIT was MSEK 9.9, down 53%.

• Q3 net earnings were MSEK 10.5 vs. MSEK 12.9; EPS was SEK 0.31 vs. SEK 0.38.

• 9M revenue decreased 7% to MSEK 311.8; EBIT rose 25% to MSEK 49.6 and net earnings increased to MSEK 45.8 from MSEK 8.8.

• Excluding MSEK 10 in Q1 organizational-change one-offs, 9M EBIT was MSEK 59, with a 19% margin; net earnings were MSEK 54 and EPS was SEK 1.59.

• 9M operating cash flow was MSEK -7.7 vs. MSEK 50.5, mainly affected by MSEK 43.6 of tax paid, including tax relating to FY2024.

Outlook and guidance

• Priorities into 2027 include improving commercial conversion in priority markets, growing recurring revenue from the installed base, and continuing product development and partnerships.

• The three-year transformation targets a more customer-oriented, focused, scalable and innovation-driven business; progress was described as on plan, just over six months into the program.

• Long-term targets are average organic growth above 10%, an EBIT margin of 25%, and returning at least 30% of net profit to shareholders, subject to investment needs and strategic considerations.

• New platform-related products are expected to contribute revenue and order intake during 2027; management gave no formal revenue-growth guidance.