Advenica (ADVE) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was 38.7 MSEK, down from 58.1 MSEK in Q1 2025, mainly due to lower product sales compared to the previous year.

• EBIT for Q1 2026 was -2.3 MSEK, compared to 12.2 MSEK in Q1 2025, reflecting the uneven distribution of product deliveries.

• Service sales increased by 9% year-over-year, now representing 90% of total revenue.

• Several major contracts were signed after the quarter, totaling over 300 MSEK, including the largest in company history.

Financial highlights

• Net income for Q1 2026 was -2.5 MSEK, compared to 9.3 MSEK in Q1 2025.

• Rolling 12-month revenue was 183.8 MSEK, slightly down from 187.4 MSEK year-over-year.

• Cash flow from operating activities was -11.7 MSEK for Q1 2026, compared to -8.7 MSEK in Q1 2025.

• Liquidity at quarter-end was 81.0 MSEK, with 30.0 MSEK in fixed-term deposits.

• Equity ratio improved to 62% from 52% a year earlier.

Outlook and guidance

• The company expects continued volatility in quarterly sales due to the nature of large contracts and uneven delivery schedules.

• Recent contract wins provide long-term stability and are expected to drive future product sales.

• The market for cybersecurity in critical infrastructure, defense, and industry is expected to grow.