Safe at Sea (SAFE) Q3 2026 earnings summary

Executive summary

• Jan–Sep operating revenue fell 33% YoY to SEK 11.244m; EBITDA was SEK -1.320m and result after financial items SEK -1.801m, versus profits in 2025.

• Q3 was weak as tenders remained unresolved and recurring deliveries were few; ongoing growth investments added to the loss.

• Management remained optimistic for Q4 2026 and Q1 2027, citing late-stage tenders and sales and marketing initiatives.

Financial highlights

• Jan–Sep operating revenue SEK 11.244m vs SEK 16.776m; net sales SEK 11.353m vs SEK 17.461m.

• Jan–Sep EBITDA SEK -1.320m vs SEK 2.721m; result after financial items SEK -1.801m vs SEK 2.230m; EPS SEK -0.065 vs SEK 0.081.

• Q3 operating revenue SEK 763k vs SEK 4.263m; net sales SEK 679k vs SEK 9.329m.

• Q3 EBITDA SEK -1.277m vs SEK 1.418m; result after financial items SEK -1.416m vs SEK 1.289m; EPS SEK -0.051 vs SEK 0.047.

Outlook and guidance

• Late-stage tenders and an intensified commercial push underpin expectations for several important deals and improved financial development in Q4 2026 and Q1 2027.

• Planned Q4 activity includes product demonstrations, training and trade-show participation in Norway, Sweden, Romania and Brazil.