Induct (INDCT) Q1 2026 earnings summary

Executive summary

• Completed comprehensive restructuring and financial clean-up in 2025, now focused on execution and commercial growth.

• Early signs of positive impact from restructuring, with EBITDA returning to positive territory in Q1 2026.

• Strategic focus on core product portfolio and revenue generation, with a new Board of Directors in place.

Financial highlights

• Q1 2026 group revenues were NOK 3.8 million, down from NOK 5.2 million in Q1 2025, mainly due to churn and wind-down of non-core activities.

• EBITDA was NOK 0.8 million in Q1 2026, compared to NOK 3.0 million in Q1 2025, but improved from a loss of NOK 0.3 million in Q4 2025.

• Net loss before tax increased to NOK 2.2 million in Q1 2026 from NOK 0.7 million in Q1 2025, reflecting lower revenues and reduced capitalisation of personnel costs.

• Financial costs reduced to NOK 0.09 million in Q1 2026 from NOK 0.5 million in Q1 2025 due to near-elimination of third-party debt.

• Cash balance at quarter-end was NOK 2.8 million.

Outlook and guidance

• Focus remains on execution, partnerships, and disciplined growth, with attention on restoring profitable growth.

• Management is working on securing a more beneficial financing structure to support future growth, especially for the clinical care pathway solution.