SeaTwirl (STW) Q2 2026 earnings summary

Executive summary

• Continued transition from technology development to commercialization, focusing on concrete projects and business opportunities, especially through the VERTI-GO project.

• Strategic partnership established with Mooreast Asia to target the Southeast Asian floating wind power market, leveraging local industrial capacity.

• Emphasis on smaller turbine models for offshore electrification, aiming to gain operational experience before scaling up.

Financial highlights

• Net sales for Q2 2026 were SEK 0 (unchanged year-over-year).

• Operating loss for Q2 2026 was SEK -5,073,314, compared to SEK -4,925,818 in Q2 2025, mainly due to ongoing development and commercialization costs.

• Cash flow for the period was SEK -7,701,945 (Q2 2025: SEK -5,652,015).

• Cash and cash equivalents at period end were SEK 72,173,466 (Q2 2025: SEK 35,785,228).

• Equity at period end was SEK 90,491,872 (Q2 2025: SEK 121,267,400).

Outlook and guidance

• Focus for the second half of 2026 is on securing resources for VERTI-GO, strengthening industrial partnerships, and advancing commercial opportunities in priority markets.