STENOCARE (STENO) Q1 2026 earnings summary

Executive summary

• Net sales reached 3,003 KDKK in Q1 2026, up 15% sequentially and 284% year-over-year, driven by Danish and German markets.

• EBITDA was positive at 61 KDKK, marking the fourth consecutive quarter of positive EBITDA.

• Integration of CannGros completed, with full operational cycle managed using existing staff and facilities.

• Astrum 10-10 oil launched in Germany and regulatory dossier submitted for entry into the French market.

Financial highlights

• Net sales: 3,003 KDKK in Q1 2026 vs. 782 KDKK in Q1 2025 (284% increase year-over-year).

• EBITDA: 61 KDKK in Q1 2026 vs. -1,832 KDKK in Q1 2025.

• Net result: -459 KDKK in Q1 2026 vs. -1,994 KDKK in Q1 2025.

• Cash flow from operating activities: 86 KDKK in Q1 2026 vs. -3,094 KDKK in Q1 2025.

• Cash position at end of Q1 2026: 654 KDKK.

Outlook and guidance

• Continued sales growth and positive EBITDA support ambition to achieve break-even for the full year.

• Efficiency improvements and automation expected in Q2 to further optimize CannGros operations.