Mauna Kea Technologies (ALMKT) Q3 2026 TU earnings summary

Executive summary

• 9M 2026 sales reached €4,409K, up 21% reported and 24% at constant exchange rates; excluding China, the highest 9M sales in six years.

• Recurring revenue rose 17% at constant exchange rates to €2.9m; 10 systems sold versus six in 9M 2025.

• Q3 sales fell 10% reported and 11% at constant exchange rates amid temporary U.S. staffing gaps and system shipments scheduled for Q4.

Financial highlights

• 9M product sales totaled €4,409K versus €3,645K in 9M 2025, up 21% reported and 24% at constant exchange rates.

• Q3 product sales were €1,206K versus €1,343K, down 10% reported and 11% at constant exchange rates.

• Recurring sales from probes, pay-per-use and services rose 17% at constant exchange rates to €2.9m, representing 67% of 9M sales.

• U.S. sales were €2,938K, up 1%; EMEA and Rest of World sales were €1,471K, up 128%.

Outlook and guidance

• Q4 is historically the strongest quarter; Q4 2025 sales were €1,944K, and the systems pipeline is mostly weighted to Q4.

• Q4 opportunities include pancreatic-lesion systems, U.S. systems nearing maintenance end, and international pipeline, including Turkey and the Middle East.

• All four U.S. territories were staffed by October, each with a Territory Manager and Clinical Associate.

• TaeWoong’s dedicated team is targeting more than 200 potential accounts; additional partnerships are under consideration to expand Cellvizio’s reach.