SyntheticMR (SYNT) Q1 2026 earnings summary

Executive summary

• Net sales for Q1 2026 were 13.1 MSEK, down 8% year-over-year, mainly due to lower OEM sales in Europe and North America and economic headwinds in APAC, especially Japan.

• Operating profit improved to -6.3 MSEK from -10.2 MSEK year-over-year, reflecting cost-saving measures and reduced operating expenses.

• Net profit for the period was -6.2 MSEK, a significant improvement from -13.3 MSEK in Q1 2025.

• Cash and cash equivalents increased to 33.0 MSEK from 22.7 MSEK year-over-year, supported by a successful rights issue.

• Strategic focus areas include strengthening commercial capabilities, deepening OEM collaborations, and integrating operations post-Combinostics acquisition.

Financial highlights

• Net sales: 13,093 TSEK (Q1 2026), down from 14,246 TSEK (Q1 2025).

• Operating expenses reduced to 22,013 TSEK from 26,827 TSEK year-over-year.

• Operating margin improved to -48% from -72% year-over-year.

• Earnings per share before dilution: -0.08 SEK (Q1 2026) vs. -0.35 SEK (Q1 2025).

• Cash flow from operating activities: -3,611 TSEK (Q1 2026) vs. 1,768 TSEK (Q1 2025).

Outlook and guidance

• Management remains committed to returning to profitability by focusing on recurring revenue, strategic partnerships, and cost control.

• Three strategic development projects with OEM partners are underway, with launches planned for 2027/28.

• Continued focus on commercial execution and operational efficiency to address long sales cycles and market opportunities.