Surgical Science (SUS) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached SEK 255 million, up 22% reported and 25% in local currencies year-over-year, with strong operational results and profitability.

• Adjusted EBIT margin was 15% (SEK 38 million), meeting financial targets and showing significant recovery from the prior year.

• License revenues were robust at SEK 85 million, up 44% year-over-year, reflecting momentum in the robotics market and a broadening customer base.

• All product segments and regions contributed to growth, with notable strength in ultrasound and educational products, and significant momentum in EMEA (+60%).

• Opened new production facility in Tel Aviv and APAC service hub in Hong Kong to support growth and operational efficiency.

Financial highlights

• Revenue: SEK 255 million in Q2, up 22% reported and 25% in local currencies year-over-year; H1 net sales SEK 490 million, up 7%.

• Adjusted EBIT: SEK 38.2 million (15% margin); operating profit SEK 32.7 million (13% margin).

• Net profit: SEK 20.8 million for Q2 2026.

• Gross margin improved to 69% in Q2, up from 65% last year.

• Cash and equivalents at quarter-end: SEK 658.4 million; no debt financing.

Outlook and guidance

• Management remains positive on long-term growth and profitability, with a focus on five market segments and ongoing operational improvements.

• Revenue loss from Intuitive/cancelled MoU is now expected to be below the initial SEK 60–90 million estimate for 2026.

• Price increases implemented in April are expected to further benefit margins in H2 2026.

• Annual growth target of 10–15% and adjusted EBIT margin of at least 15% expected to be met in 2027; 2026 expected to show profitability and some growth, but below target.