Revenio Group (REG1V) Q2 2026 earnings summary

Executive summary

• Visionix acquisition completed in May 2026, expanding product portfolio, addressable market by 2.5x to over EUR 2.5 billion, and global reach.

• Integration of Visionix is ahead of schedule, with leadership and operational structures established, business continuity maintained, and initial synergies realized.

• EUR 5 million of the targeted EUR 20 million EBITDA uplift from synergies already secured, mainly from OpEx savings.

• Strategic partnerships and FDA clearance for AI-based diagnostic solutions, including the first FDA-cleared AI solution for DRSplus in the U.S., announced.

• Commercial activation and cross-selling initiatives underway, with positive early signs in the U.S. and Europe.

Financial highlights

• Q2 2026 net sales were EUR 39.3 million, up 48.1% year-over-year (currency-adjusted 50.7%), driven by Visionix consolidation; H1 2026 net sales EUR 66.6 million (+26.6%).

• Q2 gross margin declined to 64.7% (down from 72.6% last year), impacted by Visionix dilution and tariffs.

• Q2 adjusted EBIT was EUR 5.8 million (14.6% margin), including EUR 3.4 million in acquisition-related non-recurring expenses; Q2 operating profit was EUR 2.4 million (6.1% margin), down 60.9% year-over-year.

• H1 2026 EBITDA was EUR 7.8 million (11.7% margin), down 48.1% year-over-year; H1 earnings per share were EUR 0.112, down from EUR 0.273.

• Cash flow from operations was negative at EUR -2.4 million in Q2 and EUR -5.8 million in H1, mainly due to acquisition and integration payments and increased working capital.

Outlook and guidance

• 2026 currency/exchange rate-adjusted net sales guided between EUR 190 million and EUR 205 million.

• EBITDA/EBITA (excluding non-recurring items) expected to remain at a satisfactory level.

• Lower end of guidance assumes continued market softness and slower customer activity; upper end assumes improved conditions and strong sales execution.

• Rights issue of EUR 80 million planned for H2 2026 to repay bridge financing and strengthen balance sheet, with major shareholders committed to participate.