Mantex (Mantex) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was 228 tkr, a decrease from 572 tkr in Q1 2025, reflecting ongoing product development and delayed commercialization.

• Operating loss (EBIT) improved to -3,585 tkr from -4,621 tkr year-over-year, driven by cost reductions.

• Cash flow from operating activities improved to -3,537 tkr from -6,613 tkr in Q1 2025.

• Product development delays impacted customer deliveries and revenue recognition.

Financial highlights

• Revenue: 228 tkr (Q1 2025: 572 tkr).

• Operating expenses reduced to -3,899 tkr (Q1 2025: -5,193 tkr), mainly from lower personnel and external costs.

• EBIT: -3,585 tkr (Q1 2025: -4,621 tkr).

• Net result after financial items: -3,741 tkr (Q1 2025: -4,451 tkr).

• Earnings per share: -1.72 kr (Q1 2025: -2.49 kr).

• Cash and cash equivalents at period end: 1,036 tkr.

Outlook and guidance

• Customer interest remains strong, especially for new applications in the pellet industry.

• Ongoing technical improvements and calibration expected to enable broader commercialization.

• Collaboration with a pellet producer initiated to expand product applications.