Neovici (NEO) Q1 2026 earnings summary

Executive summary

• Achieved record Q1 results with net revenue up 83% year-over-year to 42.1 MSEK, driven by strong growth in both Neovici and Wraptech segments.

• EBITDA turned positive at 4.6 MSEK versus -8.6 MSEK last year, reflecting improved operational efficiency and profitability.

• Net income after tax improved to 0.9 MSEK from -12.5 MSEK year-over-year.

• Strategic enterprise migration of Cosmoz for a major customer completed, with a 20 MSEK payment expected after quality assurance in June 2026.

• 10 MSEK directed share issue completed to strengthen financial position and accelerate commercialization.

Financial highlights

• Net revenue: 42.1 MSEK (up 83.3% year-over-year).

• Annual Recurring Revenue (ARR): 86.2 MSEK (up 5.8% year-over-year).

• Gross profit: 23.0 MSEK (up from 12.9 MSEK), gross margin 54.7% (down from 56.1%).

• EBITDA: 4.6 MSEK (margin 11.0%), EBIT: 1.4 MSEK (margin 3.4%).

• Net income after tax: 0.9 MSEK; EPS after dilution: 0.02 SEK.

• Operating cash flow: -20.1 MSEK (down from -3.5 MSEK), mainly due to changes in short-term liabilities.

• Equity: 48.2 MSEK; equity ratio: 36.4%.

Outlook and guidance

• Focus remains on further commercialization of Cosmoz AI, more enterprise deals, and expansion in retail, industry, energy, and telecom verticals.

• Board assesses that, with the expected 20 MSEK license payment, there is sufficient capital to support operations and business plan for the next 12 months.