Miris (MIR) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 2026 increased by 3% year-over-year to 5,185 tkr, but H1 sales declined 10% due to weak Q1 instrument sales.

• Recurring revenues grew 53% in Q2 and 19% in H1, strengthening the revenue base.

• Order pipeline expanded by 17% during Q2, indicating rising market interest.

• Notable new and repeat orders from the US, Germany, New Zealand, Sweden, and Denmark.

• A successful FDA inspection post-period further validated quality processes.

Financial highlights

• Q2 2026 net sales: 5,185 tkr (5,015 tkr in Q2 2025); H1 2026 net sales: 8,621 tkr (9,600 tkr in H1 2025).

• Q2 2026 net loss after tax: -1,796 tkr (-969 tkr in Q2 2025); H1 2026 net loss: -4,275 tkr (-2,894 tkr in H1 2025).

• Q2 EPS: -1.348 kr (-0.006 kr in Q2 2025); H1 EPS: -3.208 kr (-0.019 kr in H1 2025).

• Cash at June 30: 443 tkr (587 tkr prior year); net debt/equity ratio: 0.17 (down from -21.46).

• Equity at June 30: 15,823 tkr (-502 tkr prior year); solidity improved to 58% from -2%.

Outlook and guidance

• Market activity and customer engagement increased in Q2, with expectations of continued stabilization.

• Management does not expect to achieve previously stated profitability target for 2026.

• Liquidity is projected to be sufficient for at least 12 months, assuming postponement of major development projects.