Monivent (MONI) Q2 2026 earnings summary

Executive summary

• MDR approval process advanced as planned, with all BSI follow-up questions addressed and final review pending; launch with Dräger targeted for H2 2026.

• Directed share issues provided SEK 10.4 million in new capital and converted SEK 8 million bridge loan, restoring equity and resolving the control balance situation.

• Focus shifted to commercialization and market preparation, with ongoing marketing activities and product demonstrations across Europe.

Financial highlights

• Q2 2026 net sales: SEK 287k (up from SEK 177k in Q2 2025); H1 2026 net sales: SEK 565k (down from SEK 845k in H1 2025).

• Q2 2026 EBIT: SEK -2,577k (Q2 2025: SEK -2,146k); H1 2026 EBIT: SEK -5,116k (H1 2025: SEK -4,319k).

• Cash at period end: SEK 23k (Q2 2025: SEK 2,422k); equity ratio: 63%.

• Q2 2026 total operating income: SEK 1,099k (Q2 2025: SEK 1,578k); H1 2026: SEK 2,140k (H1 2025: SEK 2,367k).

Outlook and guidance

• MDR approval and European launch with Dräger expected in H2 2026; FDA 510(k) submission planned in coming months.

• New capital expected to fund operations until cash flow positive by end of 2028, contingent on full exercise of warrants.