TagMaster (TAGM) Q3 2026 earnings summary

Executive summary

• Q3 sales fell 1.1% YoY to SEK 111.1m, but organic and currency-adjusted sales rose 0.6%; improved gross margin lifted profitability.

• Strong US performance and lower relative costs supported 9M adjusted EBITDA growth of 42.2% despite nearly flat reported sales.

Financial highlights

• Q3 gross profit rose 2.1% to SEK 79.9m; gross margin increased to 71.9% from 69.6%.

• Q3 adjusted EBITDA increased 5.0% to SEK 19.5m, with a 17.6% margin vs 16.6%; operating profit was SEK 14.5m vs SEK 9.9m.

• Q3 net profit was SEK 10.3m vs SEK 7.7m; EPS was SEK 0.71 vs SEK 0.52.

• 9M sales were SEK 338.3m, down 0.4% reported but up 3.0% organically and currency-adjusted; adjusted EBITDA reached SEK 54.4m vs SEK 38.3m.

• 9M operating profit rose to SEK 35.4m from SEK 8.3m; net profit was SEK 23.0m vs SEK 7.1m, and EPS was SEK 1.57 vs SEK 0.49.

Outlook and guidance

• Near-term approach remains cautious amid supply-chain disruption, tariffs, higher input costs and market uncertainty; priorities include cost control and operational efficiency.

• Long-term growth strategy combines organic expansion and acquisitions in existing and adjacent technology areas; management remains positive on the long-term outlook.

• Product development investment was ~15% of Q3 revenue, focused on software, AI and data-driven solutions.