Nanalysis Scientific (NSCI) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached CAD 9.722 million (or $9.7 million), up 1.5% year-over-year, driven by growth in Security Services and operational improvements, despite a decline in product revenue from the end of third-party equipment sales.

• Adjusted EBITDA improved to CAD 881,000 ($0.9 million), a CAD 1.343 million ($1.3 million) year-over-year increase, reflecting operational efficiencies and cost controls.

• Net loss narrowed to CAD 666,000 ($666K), an improvement of CAD 1,456,000 ($1.5 million) compared to Q2 2025, attributed to better business performance and lower expenses.

• Security Services segment delivered improved margins and operating performance, while Scientific Equipment rebounded from Q1, aided by manufacturing efficiencies and distributor sales.

Financial highlights

• Q2 2026 revenue: CAD 9.722 million ($9.7M, +1.5% YoY); H1 2026 revenue: $20.4M (+1.1% YoY).

• Adjusted EBITDA: CAD 881,000 ($0.9M) in Q2 2026 (vs. -$462K Q2 2025); $1.17M in H1 2026 (vs. -$282K H1 2025).

• Net loss: CAD 666,000 ($666K) in Q2 2026 (vs. $2.1M Q2 2025); $1.95M in H1 2026 (vs. $3.43M H1 2025).

• Product sales declined due to ending third-party equipment sales and lower NMR benchtop sales in Q1.

• Security Services revenue increased, mainly from higher project-related work in airport security maintenance.

Outlook and guidance

• Management expects stronger performance in the second half of 2026, with Q3 and Q4 anticipated to show significant improvement due to seasonality and a recovering sales pipeline.

• Ongoing cost structure improvements and operational discipline position the company for enhanced profitability as revenue grows.

• Anticipates benefits from organic growth initiatives, new product launches, and expanded distributor relationships in coming months.

• Macroeconomic conditions are impacting Scientific Equipment purchasing timelines, but disciplined execution is expected to drive further gains.