Irisity (IRIS) Q2 2026 earnings summary

Executive summary

• Achieved positive EBITDA of MSEK 1.6 in Q2 2026, reflecting improved cost efficiency and sales growth compared to MSEK -12.0 in Q2 2025.

• Net sales increased 52% year-over-year to MSEK 27.3, with strong performance in USA, Canada, and South America.

• Recurring revenue (MRR) grew 22% to MSEK 4.5, with partner-led sales as a key driver.

• Major contract wins included a U.S. airport and a European precious metals company.

• Cost base reduced by 24.9% year-over-year, supporting profitability.

Financial highlights

• Q2 2026 net sales: MSEK 27.3 (Q2 2025: MSEK 17.9); H1 2026 net sales: MSEK 46.5 (H1 2025: MSEK 36.0).

• Q2 2026 EBITDA: MSEK 1.6 (Q2 2025: MSEK -12.0); H1 2026 EBITDA: MSEK -3.4 (H1 2025: MSEK -30.8).

• Result after tax Q2 2026: MSEK -32.5 (Q2 2025: MSEK -37.9); H1 2026: MSEK -70.9 (H1 2025: MSEK -87.4).

• Gross margin Q2 2026: 86.3% (Q2 2025: 78.8%).

• Cash and available credit lines at period end: MSEK 5.6 (Q2 2025: MSEK 8.8).

Outlook and guidance

• Focus remains on commercial growth, recurring revenue, partner-led expansion, and cost discipline for H2 2026.

• Additional cost reductions expected to further impact profitability in coming quarters.