Opsy (OPSYH ) Q2 2026 earnings summary

Executive summary

• Case volume grew 17% sequentially to 2,120 in Q2 2026, with 145% year-over-year growth for H1 2026.

• Revenue increased 138% year-over-year to 3,642 TSEK in Q2 and 39% sequentially; H1 revenue up 146% year-over-year.

• EBITDA loss improved 49% year-over-year and 8% sequentially to -1,363 TSEK; adjusted EBITDA also improved.

• OpsyScore won two industry awards; OpsyGO AI support announced for October launch.

• Over 100 medical advisors now connected; platform surpassed 6,000 completed cases.

Financial highlights

• Q2 revenue: 3,642 TSEK (up 138% YoY, 39% QoQ); H1 revenue: 6,258 TSEK (up 146% YoY).

• Q2 EBITDA: -1,363 TSEK (improved 49% YoY, 8% QoQ); adjusted EBITDA: -1,363 TSEK (improved 27% YoY, 8% QoQ).

• Q2 net result: -2,490 TSEK (improved 34% YoY); H1 net result: -4,620 TSEK (improved 57% YoY).

• Gross margin in Q2: 89% (up from 81% YoY).

• Operating cash flow Q2: -3,377 TSEK; liquidity at period end: 1,591 TSEK.

Outlook and guidance

• Strong demand for traceable AI in insurance medicine; pipeline remains robust.

• Company is well-capitalized for continued Nordic expansion after recent capital injections.

• Focus remains on growth and product development over immediate profitability.