Nexstim (NXTMH) H1 2026 earnings summary

Executive summary

• Net sales grew 16.1% year-over-year to EUR 5.2 million in H1 2026, driven by strong research, neuroscience, recurring, and licensing revenue growth.

• Recurring revenue accounted for 48% of net sales, with gross margin at 80%.

• EBITDA was positive for the fourth consecutive half-year, reaching EUR 0.3 million, up 9.8% year-over-year.

• Strategic partnerships with Brainlab and Sinaptica advanced, supported by a EUR 5 million investment from Eiffel Investment Group and Brainlab SE.

• The company maintains its guidance for 2026, expecting continued net sales growth and improved operating results.

Financial highlights

• Group revenue increased to EUR 5.2 million from EUR 4.5 million year-over-year.

• Gross margin increased 15% year-over-year to EUR 4.2 million, with a gross margin of 79.9%.

• EBITDA improved nearly 10% to EUR 0.3 million; operating profit was minus EUR 0.3 million, and net profit was minus EUR 0.9 million, impacted by EUR 0.6 million in one-off financing expenses.

• Cash and cash equivalents more than doubled to EUR 5.6 million, with group equity increasing to EUR 8.4 million.

• Equity ratio improved to 61.3% from 31.9% last year.

Outlook and guidance

• Guidance for 2026 remains unchanged: net sales expected to grow and operating result to improve.

• Long-term strategy targets profitable growth, expanding recurring revenue, and leveraging partnerships and technology leadership.