Qlucore (QCORE) Q2 25/26 earnings summary

Executive summary

• Net sales for the second quarter were SEK 1,792k, down 3% year-over-year; first half net sales were SEK 2,603k, down 26% year-over-year.

• Operating result (EBIT) for Q2 was SEK -23,135k, significantly impacted by SEK 19,497k in non-cash write-offs of intangible assets.

• Cost-saving measures, including personnel reductions, were completed in October, with a 34% reduction in Q2 costs and 22% for the first half.

• A fully subscribed rights issue provided SEK 14.3m in net proceeds, improving liquidity.

• Qlucore Diagnostics was sold to Sahlgrenska University Hospital after the reporting period.

Financial highlights

• Q2 net sales: SEK 1,792k (Q2 2024: SEK 1,855k); H1 net sales: SEK 2,603k (H1 2024: SEK 3,530k).

• Q2 EBIT: SEK -23,135k (Q2 2024: SEK -6,007k); H1 EBIT: SEK -29,686k (H1 2024: SEK -13,627k).

• Q2 net result: SEK -23,212k (Q2 2024: SEK -5,951k); H1 net result: SEK -29,831k (H1 2024: SEK -13,480k).

• Q2 cash flow from operating activities: SEK -4,793k (Q2 2024: SEK -6,145k); H1: SEK -2,866k (H1 2024: SEK -3,665k).

• Net cash flow for Q2: SEK 8,965k (Q2 2024: SEK -9,537k); H1: SEK 9,739k (H1 2024: SEK -9,746k).

Outlook and guidance

• No market outlook or business performance forecasts are provided.