Dividend Sweden (DIV) Q3 2026 earnings summary

Executive summary

• Q3 revenue was 0.9 MSEK vs 1.3 MSEK YoY; net loss widened to 10.3 MSEK from 0.4 MSEK, mainly due to the Medicortex valuation write-down.

• 9M revenue was 5.5 MSEK vs 9.0 MSEK; net loss was 13.2 MSEK vs 0.7 MSEK, while portfolio value stood at 58.6 MSEK at quarter-end.

Financial highlights

• Q3 operating loss was 10.1 MSEK vs 0.2 MSEK; loss after financial items and tax was 10.3 MSEK vs 0.4 MSEK.

• 9M operating loss reached 12.4 MSEK vs 0.1 MSEK; loss after financial items and tax was 13.2 MSEK vs 0.7 MSEK.

• 9M operating costs rose to 18.0 MSEK from 9.2 MSEK, including 14.1 MSEK in securities purchases and value changes, versus 5.8 MSEK YoY.

Outlook and guidance

• Management expects activity in the microcap market to increase, supporting new business opportunities and future shareholder distributions.

• Growth plans include expanding geographically and increasing revenue, alongside new collaborations and business dialogues.

• Medicortex targets a potential market launch around 2029, conditional on successful clinical studies and required regulatory approvals.