SMAIO (ALSMA) Q1 2026 TU earnings summary

Executive summary

• Revenue for Q1 2026 reached €2.8 million, up 11% year-over-year, driven by strong US performance.

• US sales hit a record €2.3 million, up 21% year-over-year, accounting for nearly 80% of total revenue.

• Implant sales, nearly all of total revenue, rose 12% year-over-year.

Financial highlights

• Total group sales increased to €2.8 million from €2.6 million in Q1 2025.

• US revenue grew to $2.6 million (up 35% excluding currency effects).

• Rest of world revenue (excluding France) declined to €0.3 million due to temporary local restrictions in Denmark.

• France revenue remained stable at €0.3 million.

Outlook and guidance

• Commercial rollout of patient-specific rods K-ROD via KEOPS-4ME platform expected to contribute to revenue in H2 2026.

• Activity in Denmark expected to normalize by September 2026.

• Focus remains on US commercial execution and innovation for sustainable growth.