SenzaGen (SENZA) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue rose 13% year-over-year to SEK 15.3 million, with 18% growth at constant exchange rates and positive cash flow from operating activities.

• GARD® platform sales grew, supported by new customer acquisition and a high repeat business rate of 92%.

• VitroScreen subsidiary showed turnaround progress with increased order intake, two major orders, and cash flow improvements.

• Strategic initiatives and the 2030 Growth Plan are progressing, focusing on innovation, market expansion, and regulatory projects.

• Regulatory momentum in the EU and US supports long-term growth for non-animal testing solutions.

Financial highlights

• Q2 2026 revenue: SEK 15.3 million (up 13% year-over-year, 18% FX-adjusted); H1 2026 revenue: SEK 30.2 million (up 11%).

• GARD® revenue was SEK 10.5 million in Q2 (up 9%, 14% FX-adjusted); H1: SEK 21.5 million (up 13%).

• Gross margin at 66% in Q2 2026 (up 2 pts from Q2 2025); H1 gross margin: 68%.

• EBITDA loss reduced to SEK -1.2 million from SEK -3.9 million; EBIT loss reduced to SEK -2.1 million from SEK -4.4 million.

• Cash and cash equivalents at SEK 35.5 million at quarter-end.

Outlook and guidance

• Short-term focus on disciplined growth and cost control to reach break-even.

• Favorable regulatory developments in the EU and US expected to drive demand for non-animal testing.

• Strategic initiatives and portfolio expansion position the group for long-term profitable growth.

• Ongoing investments in regulatory projects and ISO standardization for GARD® platform.

• Long-term scaling phase aims for sustained high profitability via new markets and test methods.