Odinwell (ODIN) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was 1,059 KSEK, a slight decrease from 1,115 KSEK in Q1 2025, reflecting ongoing transition from development to commercialization, especially in veterinary medicine.

• Operating result improved to -1,177 KSEK from -1,766 KSEK year-over-year, with net result after tax at -1,151 KSEK versus -1,733 KSEK.

• Strategic focus shifted to veterinary applications, with novaQS product reaching maturity for this segment and initial production run nearly fully booked.

• Ongoing collaborations with veterinary clinics and continued parallel efforts in human wound care.

Financial highlights

• Revenue: 1,059 KSEK in Q1 2026, down from 1,115 KSEK in Q1 2025.

• Operating result: -1,177 KSEK (Q1 2025: -1,766 KSEK).

• Net result after tax: -1,151 KSEK (Q1 2025: -1,733 KSEK).

• Earnings per share: -0.02 SEK (Q1 2025: -0.07 SEK).

• Cash position at period end: 2,839 KSEK.

Outlook and guidance

• Focus on accelerating commercialization in veterinary medicine, aiming for production of a veterinary product in the second half of 2026.

• Continued development and market entry efforts in human wound care, though with longer cycles.

• Exploring long-term financing solutions, with TO 2 warrants as a key step.