USWE Sports (USWE) Q2 26/27 earnings summary

Executive summary

• Q2 revenue returned to growth, with FX-adjusted organic growth of 13%; gross margin improved, while higher logistics costs weighed on operating profitability.

• Priorities include expanding sales in key markets, reducing delivery costs and inventory, and improving cash flow as recently built operating processes stabilize.

Financial highlights

• Q2 revenue rose 14% YoY to SEK 33.5m; EBITDA was SEK -0.6m, operational EBIT SEK -2.0m, and profit before tax SEK -2.2m.

• H1 revenue fell 11% YoY to SEK 62.8m; EBITDA was SEK -2.6m, operational EBIT SEK -5.5m, and net income SEK -5.8m.

• H1 revenue included SEK 4.6m from the prior-year VOID inventory disposal; Giant Loop Ride contributed SEK 2.4m versus SEK 2.5m a year earlier.

Outlook and guidance

• Q3 plans include launching Adventure Collective and The Loop membership programs and a Giant Loop kit builder to support repeat sales and product selection.

• Priorities are increasing sales activity in selected markets, lowering delivery and operating costs, reducing inventory, and improving working-capital efficiency.