Seamless Distribution Systems (SDS) Q1 2026 earnings summary

Executive summary

• Achieved strongest post-tax result since listing, marking a key profitability milestone for the business transformation initiated in 2025.

• Transitioned to a focused software company with a significantly optimized cost base, enabling scalable and profitable growth.

• Strong order intake and improved sales pipeline, with a focus on converting opportunities into customer contracts.

• Confirmed full-year pre-tax profit guidance of 45–55 MSEK for 2026.

Financial highlights

• Net sales for Q1 2026 were 41.4 MSEK, down 26.5% year-over-year, but sequentially higher than Q3 and Q4 2025.

• EBITDA increased 87.2% year-over-year to 21.2 MSEK, with an EBITDA margin of 51.2% (up from 20.1%).

• EBIT reached 16.6 MSEK, up from 2.1 MSEK in Q1 2025.

• Net income after tax was 9.2 MSEK, compared to -2.4 MSEK in Q1 2025.

• Earnings per share were 0.40 SEK, up from -0.13 SEK year-over-year.

• Cash flow for the period was 10.3 MSEK, with cash and equivalents at 14.3 MSEK at quarter-end.

Outlook and guidance

• Management maintains full-year 2026 pre-tax profit guidance of 45–55 MSEK.

• Focus remains on converting a strong sales pipeline and leveraging operational efficiency for continued profitability.