Transiro (TIRO) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 was 13.6 MSEK, down 12% year-over-year, mainly due to a restructured Colorama deal and lower Kassanova sales.

• EBITDA for H1 2026 was -2.2 MSEK, and net result was -2.85 MSEK, both significantly lower than the prior year, reflecting migration costs and a smaller Colorama business.

• The company completed a major migration to the Nova BC platform, incurring one-time costs of about 4 MSEK.

• The financial risk profile improved as the 37 MSEK Colorama loan was forgiven in 2025, eliminating long-term debt.

Financial highlights

• Q2 2026 revenue was 6.4 MSEK, down 17% year-over-year; H1 2026 revenue was 13.6 MSEK, down from 15.5 MSEK.

• Q2 2026 EBITDA was -1.75 MSEK; EBIT was -1.96 MSEK; net result was -2.04 MSEK.

• Cash flow for H1 2026 was -4.0 MSEK, reflecting migration and restructuring costs.

• Gross margin for H1 2026 was 74%, down from 78% in Q1 2026.

• ARR at the end of Q2 2026 was 19.9 MSEK, up 0.6% sequentially.

Outlook and guidance

• The company expects lower cash flow pressure in H2 2026 as migration costs subside and temporary Nova BC discounts end.

• Internal planning targets cash flow breakeven for July–December 2026, but no formal financial forecast is provided.

• Focus areas include growing recurring revenue, improving profitability, and achieving sustainable positive cash flow.