Integrum (INTEG) Q2 25/26 earnings summary

Executive summary

• Net sales for Q2 2025/26 reached SEK 22.3 million, up 2.6% year-over-year, with the US market accounting for 80% of sales.

• Operating loss for the quarter was SEK -11.1 million, with a net loss after tax of SEK -7.4 million and EPS of SEK -0.35.

• The company managed several non-recurring items, including costs related to a failed takeover bid and organizational restructuring.

• A fully guaranteed rights issue of SEK 42.6 million was initiated to strengthen the balance sheet and support growth initiatives.

Financial highlights

• Six-month net sales totaled SEK 46.1 million, up 14.7% year-over-year, with 81% from the US market.

• Gross margin declined to 67% from 80% due to increased US tariffs and product mix changes.

• Cash flow for the quarter was SEK -19.4 million; cash and cash equivalents at period end were SEK 7.8 million.

• Equity per share was SEK 7.4, and the equity/asset ratio stood at 87.7%.

Outlook and guidance

• The cost-efficiency program launched in February 2025 is 95% implemented, with full effects expected by Q4 and a full-year impact in 2026/27.

• Proceeds from the rights issue will fund market development, US expansion, regulatory priorities, and operational efficiency.