Savox Communications (SAVOX) Q2 2026 earnings summary

Executive summary

• Achieved a historical milestone with the first earnings call as a publicly listed company after a successful IPO on the Helsinki Stock Exchange in June 2026, raising €30 million and significantly strengthening the financial position.

• Orders received rose 47% year-over-year to €37.1 million in H1 2026, with a strong order backlog and options totaling €61.5 million, supporting a positive outlook for H2.

• Revenue increased 12% year-over-year to €22.6 million in H1, with growth across all business areas and regions, especially in defence and Europe.

• H1 profitability and cash flow reflect seasonality, IPO-related expenses, and working capital investments for H2 deliveries.

• Focus in H1 was on building the foundation for future growth, advancing strategic initiatives, and improving visibility through a strong order book.

Financial highlights

• H1 2026 revenue reached €22.6 million, up 12% year-over-year; Q2 revenue was €12.4 million, up 15% year-over-year.

• Orders received in H1 totaled €37.1 million, up 47% year-over-year; order book at end of June (including options) was €61.5 million.

• Gross profit for H1 was €9.1 million (40% margin), up from €7.6 million (38% margin) year-over-year.

• Comparable operating profit was -€0.7 million in H1, an improvement from -€1.3 million last year, impacted by seasonality and IPO-related costs.

• Cash flow from operating activities was -€4.9 million in H1, reflecting seasonality and working capital investments.

Outlook and guidance

• Guidance for 2026 remains unchanged: revenue expected at €65–75 million and comparable operating profit margin at 14–18%.

• H2 is expected to be significantly stronger due to the nature of large programs and delivery schedules, with profitability and cash flow weighted to the second half.

• Defence is expected to regain a higher share of revenue in H2, supporting margin improvement.

• Focus on converting order book and customer activity into revenue, maintaining operational discipline.