Ocean-GeoLoop (OCEAN) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue was NOK 53.2 million, down from NOK 55.3 million in Q1 2025, with Energi Teknikk AS as the main contributor.

• Strategic initiatives included launching COOL as a new business line and restructuring the group.

• CEO transition and scale-down of CAPTURED AS occurred after the quarter, with a focus shift to COOL.

Financial highlights

• EBITDA was negative NOK 11.4 million, compared to negative NOK 9.4 million in Q1 2025.

• Cash and cash equivalents stood at NOK 13.2 million at quarter-end.

• Gross proceeds of NOK 36 million were raised in May 2026 via a private placement.

Outlook and guidance

• COOL will be prioritized for commercialization, while CAPTURED is being wound down.

• Proceeds from the private placement will fund COOL, CAPTURED wind-down, and general purposes.