ViroGates (VIRO) Q2 2026 earnings summary

Executive summary

• Revenue increased 173% year-over-year to DKK 5.1 million in H1 2026, primarily due to a large U.S. partner order under a distribution agreement.

• Operating loss improved by 33% to DKK 3.9 million, and net loss decreased by 47% to DKK 3.2 million.

• Cash balance rose to DKK 17.6 million at period end, up from DKK 11.9 million last year.

• The company is transitioning to a partnership-led, channel-focused commercial model, with a new VP of Business Development onboard.

• Regulatory progress included the submission of a De Novo application to the U.S. FDA for TurbiLatex, advancing U.S. commercialization.

Financial highlights

• Revenue for H1 2026 was DKK 5.1 million, up from DKK 1.9 million in H1 2025.

• Operating loss reduced to DKK 3.9 million from DKK 5.8 million year-over-year.

• Net loss improved to DKK 3.2 million from DKK 6.0 million year-over-year.

• Cash and cash equivalents at period end were DKK 17.6 million, up from DKK 11.9 million a year earlier.

• Gross profit increased 19% to DKK 4.3 million.

Outlook and guidance

• Full-year 2026 revenue guidance is DKK 6.5–8 million, with EBIT guidance maintained.

• H2 revenue expected to be softer as U.S. partner works through inventory before reorders.

• No revenue impact expected from the FDA submission within 2026.

• Ongoing focus on supporting U.S. rollout and expanding channel partnerships in Europe and beyond.

• Guidance incorporates organizational restructuring and new commercial strategy.