NOS Nova (HRGI) Q2 2026 earnings summary

Executive summary

• Achieved total income of NOK 31.6 million in H1 2026, up from NOK 1.0 million in H1 2025, driven by NOS Technology integration and new contracts.

• Operating loss narrowed significantly to NOK 1.05 million from NOK 30.5 million year-over-year, nearing break-even.

• NOS Technology secured NOK 34.4 million in new contracts and expanded its customer base, with a majority of contracts from new clients.

• Strategic pause on NOS CarbonGrid® project and relinquishment of Polaris CO2 storage license to focus on cash-generative operations.

• Patent portfolio expanded to 58 applications, with 79% granted, supporting future CCS value chain opportunities.

Financial highlights

• Total income: NOK 31.6 million in H1 2026 vs. NOK 1.0 million in H1 2025.

• Operating loss: NOK 1.05 million in H1 2026 vs. NOK 30.5 million in H1 2025.

• Net loss: NOK 1.42 million in H1 2026 vs. NOK 34.2 million in H1 2025.

• Cash flow from operations improved to negative NOK 2.2 million from negative NOK 36.1 million year-over-year.

• Cash and equivalents at period end: NOK 8.4 million, down from NOK 29.3 million in H1 2025.

Outlook and guidance

• NOS Technology expected to continue generating cash and expanding its customer base.

• Active development of NOS CarbonGrid® paused due to market conditions; project remains viable pending improved CCS policy support.

• Focus on leveraging intellectual property for commercial opportunities and industry partnerships.