PolarCool (POLAR) Q1 2026 earnings summary

Executive summary

• Signed a direct sales agreement with a top UEFA Champions League football club for the PolarCapⓇ system, marking a major commercial milestone.

• Expanded presence in European ice hockey with new agreements in France, the UK, and Finland.

• Completed the MDSAP process, enabling product approval applications in Canada and paving the way for North American market entry.

• Achieved a 65% year-over-year increase in net sales for Q1 2026, reaching 0.9 MSEK.

• Achilles Capital AB increased its ownership by acquiring an additional 100,000 shares, now holding 26.5% of the company.

Financial highlights

• Net sales for Q1 2026 were 0.9 MSEK, up from 0.5 MSEK in Q1 2025.

• Operating loss for Q1 2026 was -3.9 MSEK, compared to -3.8 MSEK in Q1 2025.

• Cash and cash equivalents at period end were 4.3 MSEK, down from 9.9 MSEK a year earlier.

• Equity at period end was 9.3 MSEK, with a solidity of 76%.

• Total liabilities at period end were 2.9 MSEK.

Outlook and guidance

• Focus remains on achieving profitability in Europe by increasing the number of rented systems to 150–180 units.

• Preparations continue for a commercial launch in the US and Canada, targeted for 2026 pending regulatory approvals.

• North America is expected to become a key growth driver following market entry.