Vaxxa (VAXXA) Q1 2026 earnings summary

Executive summary

• Revenue increased by nearly 50% year-over-year in Q1 2026, driven by higher case inflow and a successful marketing campaign in January.

• The company shifted towards more in-house staff, raising personnel costs but reducing external consultant and development expenses.

• Positive cash flow was achieved in Q1 2026, with a growing customer base and improved recurring revenue potential.

Financial highlights

• Net revenue for Q1 2026 was 17,942 TSEK, up from 12,248 TSEK in Q1 2025.

• EBITDA was -1,103 TSEK, down from -67 TSEK year-over-year.

• Net loss after financial items was -1,697 TSEK, compared to -682 TSEK in Q1 2025.

• Cash and cash equivalents at quarter-end were 12,170 TSEK, up from 11,808 TSEK a year earlier.

Outlook and guidance

• Focus remains on continued growth in revenue, customer base, and market share, leveraging scale advantages for improved margins.

• Higher profitability is expected as introductory pricing and campaign discounts normalize.