Fluicell (FLUI) Q1 2026 earnings summary

Executive summary

• Achieved the strongest quarterly financial results in company history, with significant revenue and profit growth year-over-year and sequentially from Q4 2025.

• Revenue growth driven by multiple streams, notably product sales and development contracts, especially with Ambusol.

• Strategic focus on two main projects: diabetes collaboration with Mayo Clinic and cancer therapy partnership with Ambusol.

• Board renewal proposed, adding industry expertise and increasing shareholder representation.

Financial highlights

• Net revenue for Q1 2026 was 6,094 KSEK, up 2,538% year-over-year and 59% sequentially from Q4 2025.

• EBITDA reached 3,378 KSEK (vs. -2,541 KSEK Q1 2025); EBIT was 3,291 KSEK (vs. -2,644 KSEK Q1 2025).

• Net income before tax was 3,309 KSEK (vs. -2,675 KSEK Q1 2025); EPS was 2.41 SEK (vs. -1.95 SEK Q1 2025).

• Operating cash flow was 248 KSEK (vs. -3,795 KSEK Q1 2025); total cash flow after investments was -984 KSEK (vs. -6,216 KSEK Q1 2025).

• Operating margin improved to 54% (vs. -1,145% Q1 2025); equity ratio at 68%.

Outlook and guidance

• Management expects continued strong performance in 2026, with full-year result and cash flow forecasted between -1 MSEK and 1 MSEK.

• Revenue growth expected to remain robust, though quarterly fluctuations may occur due to project timing.

• Focus remains on expanding business in technology and regenerative medicine, targeting new pharma collaborations.