SMAIO (ALSMA) Q2 2026 TU earnings summary

Executive summary

• First-half 2026 sales rose 3% year-over-year to €5.1m, surpassing the €5m mark for the first time.

• U.S. sales increased 10% in dollars to $4.5m, or 3% in euros to €3.9m, despite a negative currency impact and a temporary absence of a top U.S. surgeon.

• Expansion in the U.S. continued with 5 new centers and 13 new surgeons performing first procedures, supporting long-term growth.

Financial highlights

• Group sales for H1 2026: €5.1m, up 3% from €5.0m in H1 2025.

• U.S. sales: €3.9m (up 4% year-over-year), accounting for nearly 80% of total revenue.

• Q2 2026 sales: €2.3m, down 6% year-over-year, mainly due to the absence of a key U.S. surgeon.

• Cash position as of June 30, 2026: €7.0m, up from €5.9m at year-end 2025.

Outlook and guidance

• Confident in accelerating U.S. growth in the coming months, supported by a strong financial position.

• Strategic roadmap focuses on R&D investment and U.S. expansion, including scaling up partnerships on the KEOPS-4ME platform in H2 2026.

• Next financial results scheduled for October 13, 2026.