Terranet (TERRNT) Q1 2026 earnings summary

Executive summary

• Signed first two evaluation agreements in the defense sector, expanding into new verticals driven by BlincVision's low latency and rapid detection capabilities.

• Delivered BlincVision MVP to external partners, receiving positive feedback on usability and system performance; ongoing evaluations continue.

• Increased visibility through participation in Neuromorphic Sweden and Amyna Accelerate, fostering industry connections and new business opportunities.

• Showcased BlincVision at The Electric Mine 2026 with Jakob Mining Vehicles, marking first joint exposure with a partner.

• Nominated Torsten Bernström to the Board, bringing defense and IT expertise.

Financial highlights

• Revenue for Q1 2026 was SEK 0, unchanged from Q1 2025.

• Operating loss improved to SEK -7,940 thousand from SEK -9,176 thousand in Q1 2025, reflecting lower external costs.

• Net loss for the quarter was SEK -8,140 thousand, compared to SEK -9,851 thousand in Q1 2025.

• Earnings per share improved to SEK -0.004 from SEK -0.01 year-over-year.

• Cash and cash equivalents at quarter-end were SEK 25.9 million, down from SEK 37.7 million at year-end 2025.

Outlook and guidance

• Focus remains on commercializing BlincVision, targeting commercial agreements generating revenue in 2026.

• Continued business development in automotive and expansion into new use cases, with strengthened IP and patent portfolio.

• Ongoing evaluations and customer dialogues expected to lead to long-term collaborations.