GomSpace Group (GOMX) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 grew 30% year-over-year to 239.4 MSEK, with Q2 revenue up 17% to 112.6 MSEK, outpacing the market's 14-15% growth.

• EBITDA margin improved to 13% for Q2 and 11% for H1, with net profit at 28.4 MSEK, a turnaround from a loss last year, supported by financial transactions.

• Cash position strengthened to 183.9 MSEK at period-end, though cash flow remains negative due to ongoing investments in technology and capacity expansion.

• Order backlog increased to 414.9 MSEK, with Q2 order intake exceeding revenue and enhancing future predictability, despite an 18% year-over-year decline in H1 order intake.

• Equity ratio improved to 41% following conversion of warrants to shares and equity injection, strengthening the balance sheet.

Financial highlights

• Q2 revenue: 112.6 MSEK (+17% YoY); H1 revenue: 239.4 MSEK (+30% YoY).

• Q2 EBITDA margin: 13%; H1 EBITDA: 25 MSEK (11%).

• Net profit for H1: 28.4 MSEK, with positive EBIT and EBITDA.

• Cash position at end of June: 183.9 MSEK.

• Order backlog: 414.9 MSEK, supporting future activity.

Outlook and guidance

• Full-year 2026 guidance maintained: revenue of 540–640 MSEK, EBITDA margin of 5–12%, and negative free cash flow due to scaling investments.

• Management expects to meet full-year guidance with continued profitable growth, supported by a strong backlog and favorable market conditions.

• Negative cash flow projected to persist due to planned investments.

• Strong pipeline in National & Defense Solutions expected to drive future large contracts.

• Execution risks remain due to project-based business, including operational, delivery, and customer payment risks.