Skolon (SKOLON) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 reached 69.1 MSEK, up 26.2% year-over-year, with 100% organic growth.

• Paying users increased by 12.6% to 1,083,247 as of June 30, 2026.

• ARPPU rose to 201 SEK from 173 SEK year-over-year.

• EBITDA for Q2 was -0.8 MSEK, with a notable improvement in Sweden (EBITDA 2.7 MSEK for Q2, 5.8 MSEK for H1).

• International expansion continued, with new contracts in the UK covering 60 schools and 26,250 users.

Financial highlights

• Q2 net revenue: 69.1 MSEK (54.8 MSEK in Q2 2025), up 26.2%.

• H1 net revenue: 107.4 MSEK (87.0 MSEK in H1 2025), up 23.5%.

• Q2 EBITDA: -0.8 MSEK (-0.5 MSEK in Q2 2025); H1 EBITDA: -0.7 MSEK (-1.1 MSEK in H1 2025).

• Q2 net result: -2.4 MSEK (-2.1 MSEK in Q2 2025); H1 net result: -4.1 MSEK (-4.2 MSEK in H1 2025).

• Cash flow from operations Q2: -6.2 MSEK (unchanged year-over-year).

• Net cash at period end: 21.4 MSEK (25.3 MSEK in Q2 2025).

Outlook and guidance

• Management expects continued growth in user base and revenue, with strong onboarding for the new school term.

• Ongoing expansion in the UK and Germany, with several large tenders in progress.

• Positive momentum anticipated in international markets, especially England and Germany.