Xer Tech (XER) Q2 2026 earnings summary

Executive summary

• Completed a reverse acquisition and rebranded, marking the first full quarter as a listed company.

• Focused on expanding in the defense and security sectors with a proven hybrid drone platform offering long endurance and high payload capacity.

• Achieved commercial validation with 15 active clients, including several European armies and navies, and expanded into commercial applications such as infrastructure monitoring and methane gas detection.

• Launched the X8 PRO, increasing payload from 3 kg to 7 kg and enabling multi-sensor operations with real-time actionable intelligence.

• Strengthened organisational capabilities with new hires and expanded technical development.

Financial highlights

• Net revenue for H1 2026 was SEK 6 million, up from SEK 1.8 million year-over-year.

• Net result for H1 was SEK -37.8 million, heavily impacted by non-cash accounting costs from a reverse takeover.

• Operating costs for H1 were SEK 47 million, with over SEK 14 million attributed to one-off accounting costs.

• Cash and cash equivalents as of June 30, 2026, were SEK 28.3 million, up from SEK 1.1 million.

• Positive cash flow for H1 due to a SEK 36 million share issue and SEK 15 million acquired cash from the reverse takeover.

Outlook and guidance

• Revenue expected to remain volatile due to focus on large defense contracts; small contracts used for validation and relationship building.

• Strong sales pipeline with priority on converting leads into sales and expanding partnerships for future scaling.

• Production capacity sufficient for large orders, with flexibility to scale using sub-assembly suppliers and local final assembly as required by clients.

• Evaluating opportunities to apply defense technologies to commercial security markets.

• Continued development of X12 platform for higher payload and complex missions.