Northern CapSek Ventures (CAPS) Q2 2026 earnings summary

Executive summary

• Reported a net loss of -930 TSEK for Q2 2026, an improvement from -1,677 TSEK in Q2 2025.

• Revenue for the quarter was 39 TSEK, down from 140 TSEK year-over-year.

• Announced a strategic shift to focus on Nordic industrial, tech, and greentech companies with positive cash flow or clear profitability paths.

• Portfolio consists of 11 tech companies with a net asset value of 42 MSEK, or 46 SEK per share.

Financial highlights

• EBITDA for Q2 2026 was -826 TSEK, compared to -1,181 TSEK in Q2 2025.

• EBIT for Q2 2026 was -897 TSEK, versus -1,253 TSEK in Q2 2025.

• Net result per share for Q2 2026 was -1.0 SEK, improved from -3.7 SEK in Q2 2025.

• Equity at period end was 42,351 TSEK, down from 44,980 TSEK a year earlier.

• Liquidity at period end was 245 TSEK, with access to a 1.5 MSEK credit line.

Outlook and guidance

• New strategy aims for a more mature, cash flow and acquisition-oriented investment model.

• Plans to raise approximately 20 MSEK via a rights issue to fund new investments and acquisitions.

• Evaluating several concrete investment cases aligned with the new strategy.