Xoma (XOM) Q1 2026 earnings summary

Executive summary

• Focused on executing technical verifications and strategic decisions from 2025, moving towards industrial application of FLOW technology.

• Key operational progress with Boliden Rönnskär, preparing for a pilot plant as a major industrial milestone.

• Ongoing separation of CLAS business into a subsidiary to sharpen focus on FLOW and enable external financing for CLAS.

• Regulatory changes, such as the removal of the uranium mining ban and stricter environmental requirements, increase demand for biological water treatment.

• After the quarter, agreements were reached to start the first FLOW pilot plant at Boliden Rönnskär.

Financial highlights

• Operating income for Q1 2026 was 1,183 KSEK, up from 143 KSEK year-over-year.

• EBITDA was -1,589 KSEK, compared to -1,205 KSEK in Q1 2025.

• EBIT was -1,696 KSEK, compared to -1,236 KSEK year-over-year.

• Net result per share improved to -0.02 SEK from -0.13 SEK year-over-year.

• Cash and bank balances at quarter-end were 10,926 KSEK, up from 549 KSEK year-over-year.

Outlook and guidance

• Aims to complete the CLAS business transfer in 2026, enabling sharper focus on FLOW.

• Expects to communicate new industrial partnerships in coming quarters.

• FLOW pilot plant at Boliden Rönnskär to validate technology at industrial scale.