Svenska Aerogel (AERO) Q2 2026 earnings summary

Executive summary

• Achieved a major milestone with the launch of the first consumer product using proprietary aerogel technology, targeting the dental care market in the UK through Matrix Brands' Ozen® toothpaste.

• Introduced Naerogel®, a new aerogel platform with enhanced performance, replacing Quartzene® and supporting future growth.

• Completed a fully subscribed rights issue, raising approximately 18.4 MSEK before costs to fund commercialization and development.

Financial highlights

• Net sales for Q2 2026 were 0.5 MSEK, down from 1.3 MSEK in Q2 2025; H1 2026 net sales were 1.6 MSEK, down from 2.6 MSEK year-over-year.

• EBITDA for Q2 2026 was -7.1 MSEK (Q2 2025: -6.5 MSEK); EBIT was -8.9 MSEK (Q2 2025: -8.3 MSEK); net loss after tax was -9.0 MSEK (Q2 2025: -8.5 MSEK).

• Cash and cash equivalents at June 30, 2026, were 12.8 MSEK, up from 9.4 MSEK a year earlier.

• Equity at period end was 39.0 MSEK (June 2025: 38.4 MSEK); total assets were 45.4 MSEK (June 2025: 49.3 MSEK).

• Cash flow from operations for Q2 2026 was -7.2 MSEK; cash flow from financing activities was 16.3 MSEK.

Outlook and guidance

• Rolling 12-month sales declined to 3.7 MSEK in Q2 2026, impacted by timing of follow-up orders, with improvement expected in Q3 as deliveries and invoicing occur.

• The company aims to leverage new product launches and strengthened financial position to drive commercialization and growth.