Inhalation Sciences (ISAB) Q1 2026 earnings summary

Executive summary

• Revenue and order intake surged significantly year-over-year, driven by execution of a strong order backlog from Q4 2025 and successful conversion of pipeline opportunities.

• Active process underway to explore potential acquisition of the business, with ongoing discussions via PharmaVentures and a target to conclude before summer 2026.

• Continued engagement with the FDA regarding publication of the Dissolvit project, aiming for publication within 2026.

Financial highlights

• Net revenue for Q1 2026 was 4,147 tkr, up from 809 tkr in Q1 2025.

• Operating result improved to -1,400 tkr from -2,241 tkr year-over-year.

• Earnings per share (EPS) was -0.04 SEK, compared to -0.15 SEK in Q1 2025.

• Order intake reached 2,420 tkr, up from 908 tkr in the prior year period.

• Cash flow from operations was -1,245 tkr, unchanged from Q1 2025.

Outlook and guidance

• Commercialization efforts are expanding, with new modules and services in development to broaden the product and service portfolio.

• The acquisition process is expected to conclude within 9-12 months, aiming to maximize shareholder value.