Observe Medical (OBSRV) Q2 2026 earnings summary

Executive summary

• Revenue grew 27.4% year-over-year to NOK 14.4 million, driven by UnoMeter™ portfolio sales and expanded market reach.

• Gross margin improved to 29.5% (+3.3pp YoY) due to higher-margin sales and lower freight costs.

• Order intake increased 73% compared to H2 2025, reflecting strong commercial traction and broader product offerings.

• Commercial launch of UnoMeter™ Safeti™ Max, with initial distributor orders in 28 countries and clinical validation of infection barrier efficacy.

• Strategic focus on core business, including wind-down of Biim Ultrasound and strengthening of the commercial team.

Financial highlights

• Operating revenue: NOK 14.4 million (+27.4% YoY); gross profit: NOK 4.3 million (+43% YoY).

• Adjusted EBITDA: negative NOK 8.3 million (improved by NOK 2.5 million YoY); reported EBITDA positive NOK 7.9 million due to NOK 18 million non-cash gain from Biim Ultrasound wind-down.

• Net result: NOK 5.6 million (vs. -NOK 19.0 million H1 2025), driven by non-operating gains.

• Earnings per share: NOK 0.04 (vs. -0.99 H1 2025).

• Bank deposits at period end: NOK 7.8 million (vs. NOK 3.0 million prior year).

• Equity ratio: 31.7% (vs. 2.8% prior year), reflecting balance sheet optimization.

Outlook and guidance

• Focus on converting commercial momentum into sustainable revenue growth and achieving positive operational cash flow by Q4 2026.

• Strategy centers on reclaiming market leadership in urine measurement and leveraging the UnoMeter™ and Sippi® platforms for global scaling.

• Management expects solid growth in coming years, supported by a scalable distribution network and validated technology.