Carasent (CARA) Q2 2026 earnings summary

Executive summary

• Achieved strong Q2 2026 results with net sales up 18% year-over-year to SEK 97.7 million and organic growth of 11%, driven by high recurring SaaS revenues and successful integration of InfoSolutions.

• Completed the acquisition of InfoSolutions, expanding capabilities in lab and diagnostics integrations, strengthening the product portfolio, and implementing immediate cost reductions and price increases.

• Medsum AI assistant adoption accelerated, reaching ~300 active users and ~200 paying users by end of June, with no churn reported and traction among semi-small clinics and early adopters.

• Sales momentum remained robust, with signed but not yet implemented contracts rising from SEK 4 million in Q1 to SEK 6 million in Q2.

• Launched Webcur in Germany and appointed a new CEO to drive local sales and marketing.

Financial highlights

• Contracted ARR reached SEK 401 million, up 29% year-over-year, with 15% organic ARR growth and 11% organic revenue growth.

• Q2 2026 revenues were SEK 97.7 million, up 18% year-over-year; subscription revenue grew 19%, transaction revenue 27%.

• Adjusted EBITDA margin improved to 19% in Q2 2026 (from 15% in Q2 2025); adjusted EBITDA up 57% to SEK 19.0 million.

• Free cash flow for H1 2026 was 26% of revenue, supported by advance customer payments; free cash flow YTD reached SEK 49 million.

• Gross margin slightly lower at 83% due to InfoSolutions' lower margin and higher transaction revenues.

Outlook and guidance

• Continued focus on AI-driven product development and expansion, with new LLM-based documentation features and MDR certification for Medsum planned for H2 2026.

• Price increases for InfoSolutions customers expected to impact results at the end of the year.

• Growth and margin targets maintained for the Group, including InfoSolutions.

• Webcur rollout in Germany to accelerate in Q4 as product matures for broader customer segments.

• Anticipate steady, not explosive, adoption of AI assistant Medsum due to cautious healthcare sector.