Qualisys (QSYS) Q3 2026 earnings summary

Executive summary

• Q3 sales fell 15.1% YoY to SEK 46.1m, while EBIT declined to SEK 0.2m; lower volumes and costs to commercialize markerless technology weighed on earnings.

• Markerless products reached commercial milestones: OnTraq signed its first agreements with a Premier League club and an NFL team, and Prisma Pose was launched for biomechanics labs.

• Gross margin improved to 72.2% from 70.7% YoY, indicating continued pricing power and a favorable product mix.

Financial highlights

• Q3 2026 net sales were SEK 46.1m, down 15.1% YoY (currency-adjusted -16.0%); EBIT was SEK 0.2m vs. SEK 8.0m, and net profit was SEK 1.0m vs. SEK 6.2m.

• Q3 EPS was SEK 0.10 vs. SEK 0.62; operating cash flow after investments was SEK 5.4m vs. SEK -2.1m.

• 9M net sales were SEK 140.5m, down 16.9% YoY (currency-adjusted -13.4%); EBIT was SEK 0.6m vs. SEK 17.1m, and net profit was SEK 1.5m vs. SEK 10.1m.

• 9M EPS was SEK 0.15 vs. SEK 1.01; operating cash flow after investments was SEK 8.1m vs. SEK 4.7m.

Outlook and guidance

• Q4 is historically the strongest quarter; priorities are converting delayed projects into orders, rolling out Prisma Pose to the installed base, signing more OnTraq teams, and advancing selected engineering applications.

• OnTraq volumes are expected to build gradually; its subscription model is intended to add revenue stability over time.

• Long-term financial targets are unchanged: 15% annual organic revenue growth and a 20% EBIT margin over a business cycle.