SaltX Technology (SALT) Q1 2026 earnings summary

Executive summary

• Achieved a breakthrough by producing Portland-quality cement clinker using a fully electrified process at industrial scale, marking a significant step toward industrialization and commercialization of green cement technology.

• Strengthened financial position through a successful rights issue, raising MSEK 110, and secured USD 1.5 million in funding from Frontier for carbon removal technology development.

• Deepened partnership with Holcim, entering a Joint Development Agreement to build the world’s first fully electric cement plant in Europe by 2028.

Financial highlights

• Net sales for Q1 2026 were MSEK 7.9, a substantial increase from MSEK 0.2 in Q1 2025, driven by component deliveries and customer collaborations.

• Operating loss (EBIT) was MSEK -23.0, nearly unchanged from MSEK -22.9 in Q1 2025.

• Earnings per share improved to SEK -0.10 from SEK -0.14 year-over-year.

• Cash flow from operating activities was MSEK -16.1, an improvement from MSEK -18.0 in Q1 2025.

• Cash and cash equivalents at quarter-end were MSEK 118, up from MSEK 7.4 a year earlier.

Outlook and guidance

• Focus remains on scaling up electrified calcination technology and moving from pilot to full-scale industrial implementation.

• The pilot plant in Mo i Rana is approaching construction, with a final decision expected in the first half of 2026.

• Commercialization efforts are intensifying, with further updates expected before summer.