Mips (MIPS) Q2 2026 earnings summary

Executive summary

• Net sales grew 72% year-over-year in Q2 2026 to SEK 232m, with organic growth of 42%; year-to-date net sales up 53% and organic growth 35%.

• Strong momentum across all categories and geographies, with Europe and North America leading, and Asia rebounding with 80% growth in Q2.

• Integration of Koroyd progressing well, significantly contributing to growth, especially in the Safety segment.

• Major US legal dispute settled post-quarter, with a USD 3.25m payment to be recognized in Q3.

• Confidence maintained in long-term strategy and financial targets.

Financial highlights

• Q2 net sales: SEK 232m (up 72% YoY); organic growth 42%; Koroyd contributed 30%; no FX impact.

• Q2 gross profit: SEK 172m (up 71% YoY); gross margin 74.1% (vs. 74.2% last year).

• Q2 adjusted EBIT margin: 46.7% (vs. 40.4% last year); Q2 EBIT margin: 41.0% (vs. 30.1%).

• Q2 operating profit: SEK 95m (up 133% YoY); Q2 diluted EPS: SEK 2.55 (up 113%).

• Q2 operating cash flow: SEK 62m (up 235% YoY); cash and equivalents at SEK 187m.

Outlook and guidance

• Ambition to maintain organic growth above 30% and EBIT margin above 50% long-term; net sales target > SEK 2bn by 2029.

• Positive momentum expected to continue in H2, supported by innovation and new product launches.

• No change in long-term outlook for Sports, Moto, or Safety categories.

• Safety segment targeting SEK 100m in sales for the year, with further product launches planned.

• No extraordinary expenses expected in Q3 aside from legal settlement.