Selvita S.A. (SLV) Q1 2026 earnings summary

Executive summary

• Q1 2026 operating revenue reached PLN 81.1m, down 11% year-over-year, with a 14% EBITDA margin and a net loss of PLN 5.4m, mainly due to weaker Drug Discovery performance and adverse FX impacts.

• PLN 6.4m in cost savings recognized in Q1, tracking toward a PLN 27m full-year target.

• A comprehensive strategic review was launched to assess value-maximizing alternatives and accelerate development.

• Ardigen, the AI-driven CRO, posted a 13% revenue increase and returned to operating profitability, reflecting strong demand for AI-based solutions.

Financial highlights

• Total Q1 2026 revenues were PLN 81.1m, down 11% year-over-year but up 5% from Q1 2024.

• EBITDA margin was 14.0%, in line with estimates; PLN 4.0m in grant revenues, up PLN 3.1m YoY.

• Commercial revenues fell to PLN 75.96m (down 16% YoY); EBITDA dropped to PLN 11.3m (down 24% YoY).

• Net loss (excl. incentive scheme): PLN 5.3m vs. PLN 0.2m loss in Q1 2025.

• FX had a negative impact of ~PLN 1.0m on revenues; EUR-denominated liabilities revaluation reduced net result by PLN 2.5m.

Outlook and guidance

• Q2–Q4 2026 are expected to outpace Q1 in financial performance.

• PLN 27m in total savings expected for 2026, with positive profitability outlook.

• Backlog as of May 18, 2026: PLN 246.5m, slightly lower YoY; Drug Development backlog up 15%, Drug Discovery backlog down 13%.

• The Group maintains a good financial position, with sufficient liquidity and access to credit lines totaling EUR 9m.