Senzime (SEZI) Q1 2026 earnings summary

Executive summary

• Margins and cash flow improved in Q1 2026, despite a temporary dip in growth due to delayed US contracts and currency headwinds.

• Full-year growth and profitability targets remain unchanged, with strong momentum in sensor sales and recurring revenue models.

• Major US hospital contracts secured, including Ivy League and leading regional systems, expanding the installed base and recurring revenue potential.

Financial highlights

• Sensor sales grew 40% year-over-year in constant currencies.

• Underlying gross margin increased to 69.2% from 65.9% year-over-year.

• Operating cash flow improved by 33% to -23,029 KSEK compared to Q1 2025.

• EBITDA improved to -20,202 KSEK from -20,838 KSEK year-over-year.

• Net earnings improved to -23,242 KSEK from -35,522 KSEK year-over-year.

• 55.3 MSEK in cash at quarter end, with an additional 42.5 MSEK credit facility available.

Outlook and guidance

• Full-year 2026 targets for strong growth and profitability remain intact.

• Positive cash flow expected by Q4 2026, with continued gross margin strengthening and stable OPEX.

• Profitability expected by end of 2026, with further gross margin improvements and lower operating expenses anticipated.

• Long-term ambition to exceed SEK 1 billion in revenue by 2030.

• Recurring revenue share is increasing, supporting long-term fundamentals.