Safe at Sea (SAFE) Q2 2026 earnings summary

Executive summary

• Revenue for January–June 2026 was 10,480 tkr, down 16% year-over-year, mainly due to delayed defense procurement processes and lower overall activity.

• EBITDA for the period was -43 tkr, compared to 1,303 tkr last year; net result after financial items was -385 tkr versus 941 tkr.

• Significant sales included Safe Runner X to Iceland and SafeRunner to Romania; new VP of Global Commercial Development appointed to boost sales.

• Market activities included demonstrations and trade fair participation in France, Brazil, Norway, and Iceland.

Financial highlights

• Q2 2026 revenue was 6,519 tkr, down from 7,687 tkr in Q2 2025.

• Q2 EBITDA was -468 tkr (898 tkr in Q2 2025); net result after financial items was -625 tkr (774 tkr in Q2 2025).

• Cash and cash equivalents at period end were 3,641 tkr, down from 6,226 tkr at the start of the year.

• Gross margin improved to 44.0% from 11.8% year-over-year.

Outlook and guidance

• Management expects significant defense orders soon, with ongoing procurement dialogues nearing completion.

• Anticipates continued order inflow from both new and existing civil rescue and emergency service customers.

• Increased marketing and sales efforts are expected to drive higher customer engagement and market visibility.