Xer Tech (XER) Q2 2026 earnings summary

Executive summary

• H1 net revenue was SEK 6,046k vs SEK 1,779k; operating loss was SEK 38,019k, including a SEK 14.3m non-cash reverse-acquisition listing expense.

• Q2 was the first full quarter as a listed entity; defence and commercial activity advanced, X8 Pro launched and the sales pipeline expanded.

• Commercial validation included 15 active clients, including European armies and navies, alongside infrastructure monitoring and methane-detection applications.

Financial highlights

• H1 total revenue was SEK 8,959k vs SEK 11,263k; net revenue was SEK 6,046k vs SEK 1,779k.

• H1 operating loss was SEK 38,019k and net loss SEK 37,755k vs SEK 8,927k for each in the prior-year period; the reverse-acquisition listing expense was SEK 14.3m.

• Q2 net revenue was SEK 397k vs SEK 1,396k; operating loss was SEK 11,382k and net loss SEK 12,372k vs SEK 2,147k for each.

• H1 external costs were SEK 25,086k, including SEK 14.3m in non-cash listing costs; staff costs were SEK 17,539k.

• H1 cash flow from operations was negative SEK 18,094k; investing inflow of SEK 10,767k included SEK 15,621k from subsidiary acquisition accounting.

Outlook and guidance

• Priorities included converting pipeline leads into customer programmes, delivering current projects, expanding partnerships, industrialising platforms and building technical and organisational capacity.

• An integrated EW/ISR customer system was expected to be trained and shipped in Q3; an X8 transport-module order was delivered in Q3.

• Procurement began for components for 10 additional X8 Pro units; X12 development continued for higher-payload, multi-sensor missions.

• Production capacity can scale through sub-assembly suppliers and local final assembly; milestone payments, typically 50% upfront, support production ramp-up.