Star Vault (STVA) Q1 2026 earnings summary

Executive summary

• Net sales for Q1 2026 were SEK 1,758,818, down from SEK 2,532,559 year-over-year.

• Result after financial items was SEK -1,052,041, compared to SEK -513,166 in Q1 2025.

• Major technical upgrades and AI integration aimed at efficiency and scalability were implemented.

• Preparations for a major expansion (Sarducaa) targeting the North American market are underway.

• Commercialization of proprietary network technology (Raxor Mesh) for external studios initiated.

Financial highlights

• Operating income for Q1 2026 was SEK -1,052,104, compared to SEK -513,178 in Q1 2025.

• Cash flow for the period was SEK -436,834, versus SEK -148,579 in Q1 2025.

• Cash and cash equivalents at March 31, 2026, were SEK 2,435,580, down from SEK 3,959,563 a year earlier.

• Equity at period end was SEK 14,031,768, compared to SEK 15,381,222 at March 31, 2025.

• Capitalized development costs for the quarter were SEK 1,138,000, up from SEK 1,007,000 in Q1 2025.

Outlook and guidance

• The board expects existing cash and projected market development to cover liquidity needs for the next 12 months.

• Sarducaa expansion is expected to drive growth by attracting new and returning players in North America.

• Raxor Mesh commercialization is seen as a potential new revenue stream.