Maytronics (MTRN) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue was ₪437.5M, down 15% year-over-year, mainly due to currency effects, operational constraints, and increased competition in Europe, while North America and the commercial segment showed early signs of turnaround and healthy demand.

• Operational challenges and FX headwinds limited ability to fully meet demand, especially in Europe.

• Net loss for Q2 2026 was ₪8M, compared to net income of ₪14.6M in Q2 2025; H1 2026 net loss was ₪34.5M versus net profit of ₪30.1M last year.

• Cash flow from operations remained positive at ₪39.2M for H1 2026.

Financial highlights

• Q2 2026 revenues were ₪437.5M, down 15% year-over-year; currency-neutral revenue grew 0.7%.

• Gross margin for Q2 2026 was 35.7%, stable year-over-year; currency-neutral gross margin improved to 37.4%.

• Operating profit for Q2 2026 was ₪8.3M (₪25.9M currency-neutral), down from ₪33.8M in Q2 2025.

• Net cash from operating activities decreased to ₪64.8M from ₪182.4M year-over-year.

Outlook and guidance

• Q3 2026 revenue outlook is ₪260–290M, representing an 18.5% year-over-year decline (11% decline ex-FX).

• Management expects to meet obligations for at least 12 months, supported by efficiency plans and potential capital raise.

• Order backlog at June 30, 2026 was ₪98.5M, down 9.5% year-over-year (3.4% decline ex-FX).