XP Chemistries (XPC) Q2 2026 earnings summary

Executive summary

• Commercialization phase advanced from planning to execution, with pilot-scale production at two contract manufacturers and progress toward full product launch with a European distributor.

• Achieved a key milestone in scaling up capsaicin production, confirming technical feasibility and comparable or superior product quality to EU-approved material.

• Secured first patent in the third patent family in Japan, strengthening IP position.

• Board strengthened with new members experienced in capital markets and industrial business development.

Financial highlights

• Net sales for Jan–Jun 2026: 192 TSEK (199 TSEK year-over-year); Q2 net sales: 59 TSEK (96 TSEK year-over-year).

• Operating loss for Jan–Jun 2026: -5,980 TSEK (-4,642 TSEK year-over-year); Q2 operating loss: -2,912 TSEK (-2,519 TSEK year-over-year).

• Result before tax for Jan–Jun 2026: -5,978 TSEK (-4,674 TSEK year-over-year); Q2: -2,911 TSEK (-2,530 TSEK year-over-year).

• Earnings per share for Jan–Jun 2026: -0.02 SEK (-0.02 SEK year-over-year); Q2: -0.01 SEK (-0.01 SEK year-over-year).

• Cash and cash equivalents at June 30, 2026: 9,709 TSEK (218 TSEK year-over-year).

Outlook and guidance

• Certification process (FAMI-QS) in final stage, expected completion in Q3 2026, enabling first encapsulated product market launch around year-end.

• Market demand for capsaicin-based feed additives is increasing, driven by heat stress in livestock and reduced antibiotic use.

• Two product candidates selected for further evaluation and production tests underway with feed producers.