Micro Systemation (MSAB) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 reached SEK 122.5 million, up 52.1% year-over-year, with a gross margin of 94% and strong profitability.

• Operating profit for Q2 was SEK 12.6 million, reversing a loss of SEK -17.4 million last year.

• Profit after tax for Q2 was SEK 9.4 million, compared to a loss of SEK -14.4 million last year.

• Growth was driven by product adoption, expansion in mature and emerging markets, and strategic investments in product development and customer relationships.

• Strong demand for digital forensic solutions is fueled by increasing data volumes and complexity in investigations.

Financial highlights

• Gross margin for Q2 was 94.2%, slightly higher than 93.7% in Q2 2025.

• Q2 profit was SEK 12.6 million, compared to a loss of SEK -17 million in the same quarter last year.

• Rolling 12-month sales reached SEK 511 million, up from SEK 462 million year-over-year.

• Cash and cash equivalents at June 30, 2026, were SEK 145.3 million.

• Cash flow from operating activities in Q2 was SEK 22.8 million, up from SEK 10.5 million in Q2 2025.

Outlook and guidance

• Management remains confident in positive market development and the ability to meet long-term financial targets.

• Growth may fluctuate between quarters, but the long-term trend is positive.

• The Board has set targets for 2030: SEK 1 billion in revenue, at least SEK 200 million EBITA, and a dividend payout of 25-50% of profit after tax.

• Gross margin expected to remain in the low to mid-90s for the full year.

• Confident in achieving annual targets and maintaining momentum in both existing and new markets.