Smoltek (SMOL) Q1 2026 earnings summary

Executive summary

• Transitioned from technology development to industrial validation and market introduction of CNF-MIM platform, focusing on reliability and commercial readiness.

• Strengthened liquidity through loans totaling 17 MSEK and organizational changes, including a new CFO.

• Continued development in hydrogen technology, targeting reduced use of precious metals and improved efficiency.

Financial highlights

• Net sales for Q1 2026 were 0 KSEK, down from 273 KSEK in Q1 2025.

• Net loss for the period was -9,393 KSEK, an improvement from -10,226 KSEK year-over-year.

• Earnings per share were -0.05 SEK (vs. -0.13 SEK in Q1 2025).

• Cash and cash equivalents at period end were 3,109 KSEK, down from 15,280 KSEK a year earlier.

• Equity at period end was 64,222 KSEK, compared to 74,270 KSEK in Q1 2025.

Outlook and guidance

• Focus on industrialization, validation, and commercial growth, with ongoing customer dialogues and adaptation.

• Initial production capacity for capacitors established in partnership with ITRI in Taiwan.

• Continued strategic partnership with Heraeus for hydrogen electrode commercialization.

• Ongoing efforts to secure long-term financing to support planned development and industrialization.