Opsy (OPSYH ) Q1 2026 earnings summary

Executive summary

• Strong start to 2026 with 19% quarter-over-quarter growth in case volume and 158% year-over-year revenue growth, driven by new and existing customer contracts and the implementation of AI-supported automation for selected clients.

• EBITDA loss improved by 74% year-over-year and 10% quarter-over-quarter, reflecting operational efficiencies and higher volumes.

• Strategic focus on AI-driven automation in insurance medicine, with concrete deliveries and a robust sales pipeline.

Financial highlights

• Net revenue for Q1 2026 reached 2,616 TSEK, up 158% year-over-year and 2% from Q4 2025.

• EBITDA was -1,487 TSEK, a 74% improvement year-over-year and 10% better than Q4 2025.

• Adjusted EBITDA matched reported EBITDA at -1,487 TSEK, improving 20% year-over-year and 8% quarter-over-quarter.

• Net loss for the quarter was -2,130 TSEK, a 70% improvement year-over-year.

• Operating cash flow was positive at 1,037 TSEK, compared to -1,350 TSEK a year earlier.

Outlook and guidance

• Management expects continued momentum with further improvements in margins as automation initiatives scale.

• The company prioritizes growth and product development over immediate profitability, leveraging recurring revenue and scalable business models.