Embla Medical (EMBLA) Investor presentation summary

Business highlights and strategy

• Achieved 15% reported sales growth in Q1 2026, with 4% organic and 8% local currency growth including M&A effects.

• Gross profit margin at 62% and EBITDA margin at 17%; net profit grew 21% year-over-year.

• ForMotion™ global rebranding over 90% complete; patient care initiatives are improving sales and profitability.

• Maintained 2026 guidance: organic sales growth of 5-8% and EBITDA margin of 20-22% before special items.

• Ongoing share buyback program and completed share capital reduction.

Regional and segment performance

• Americas saw 3% organic sales growth; EMEA 4%; APAC 14% in Q1 2026.

• Prosthetics & Neuro Orthotics accounted for 54% of Q1 sales, with 9% organic growth; strong momentum in EMEA and Americas.

• Bracing & Supports represented 16% of Q1 sales, with 1% organic growth; APAC outperformed, while Americas and EMEA faced market pressures.

• Patient Care made up 30% of Q1 sales, with -1% organic growth; Americas recovered, EMEA impacted by timing effects.

Financial performance and outlook

• Q1 2026 gross profit margin was 62%, slightly down from 63% in Q1 2025 due to FX and US tariffs.

• OPEX stable at 52% of sales; EBITDA margin at 17% (down from 18%); net profit at $15m, up from $12m.

• Free cash flow lower year-over-year due to net working capital changes; leverage at 2.4x, within target range.

• 2026 guidance reiterated: 5-8% organic sales growth, 20-22% EBITDA margin, 3-4% CAPEX as % of sales, 23-24% tax rate.