Spinnova (SPINN) H1 2026 earnings summary

Executive summary

• Initiated and progressed trial runs at the Woodspin demo factory, achieving production volumes and quality comparable to previous operations and preparing for a larger-scale restart in 2026.

• Expanded ecosystem development with new partnerships and brand collaborations, including launches with JJXX, ECCO, Tearfil Textile Yarns, INSIDER, Circulose, Sulzer, and NZ TEX GROUP.

• Initiated commercial product launch at Respin, with ECCO releasing shoes using leather waste-based fibre and strong interest from luxury brands.

• Announced intention to pursue a U.S. IPO and dual listing on Nasdaq Capital Market to support commercial ramp-up, broaden investor base, and access capital.

Financial highlights

• Revenue for January–June 2026 was €286k, up from €100k in the same period last year, mainly from technology services to Respin.

• Operating result (EBIT) was -€18.4m, compared to -€6.9m year-over-year; operating loss narrowed significantly due to the absence of last year’s €18.4m impairment loss.

• Net loss for the period was -€6.9m, versus -€26.3m in the prior year.

• Liquid funds totaled €38.5m at the end of June 2026, down from €41.6m a year earlier.

• Equity ratio was 43% at the end of June 2026, down from 79% a year earlier.

Outlook and guidance

• No financial guidance provided for 2026.

• Focus remains on cost efficiency, scaling technology, and ecosystem development.