Spineway (ALSPW) Q1 2026 TU earnings summary

Executive summary

• Q1 2026 revenue reached €2.2 million, down 23% year-over-year due to regulatory and supply chain delays.

• Despite the slowdown, the growth trajectory for 2026 remains confirmed, with a robust order backlog.

• The lag between orders and revenue is expected to normalize from H2 2026, reducing quarterly volatility.

Financial highlights

• Q1 2026 revenue: €2.2 million, compared to €2.8 million in Q1 2025.

• Previous quarter (Q4 2025) saw strong growth of +38% year-over-year.

Outlook and guidance

• Growth trajectory for 2026 is confirmed, with normalization of supply chain and regulatory delays anticipated in H2 2026.

• Expectation that order-to-revenue lag will diminish, stabilizing revenue recognition.