Terranet (TERRNT) Q2 2025 earnings summary

Executive summary

• The MVP of BlincVision was launched, featuring integrated hardware/software, improved laser scanner, and advanced AI model, enabling customer evaluations and production for autumn delivery.

• Strong technical progress achieved, with rigorous testing and improved features, positioning for commercialization.

• Participation in major industry conferences and trade fairs increased visibility and opened new opportunities.

• Secured MSEK 40.0 through oversubscribed rights and directed issues, improving financial position.

• Received intention to grant first proprietary patent for event-based sensor data processing, expanding IP portfolio.

Financial highlights

• Revenue for Q2 and H1 2025 was TSEK 0, compared to TSEK 380 in Q2 2024.

• Operating loss for Q2 2025 was TSEK -10,970 (Q2 2024: -9,985); H1 2025 operating loss was TSEK -20,146 (H1 2024: -18,266).

• Net loss for Q2 2025 was TSEK -11,633 (Q2 2024: -10,983); H1 2025 net loss was TSEK -21,484 (H1 2024: -20,329).

• Cash and cash equivalents at period end were TSEK 16,781 (Dec 2024: 18,541).

• Equity/assets ratio improved to 69.8% (Dec 2024: 54.3%).

Outlook and guidance

• Customer evaluations of BlincVision MVP to begin in Q3 2025, with feedback guiding further development.

• Sufficient liquidity secured to continue operations into Q2 2026, contingent on continued capital raising and commercialization.

• Key priorities for Q3 and Q4 include supporting customer evaluations, pursuing commercialization agreements, and defining 2026 plans.

• Activities with alternative use cases and new customer segments will intensify in Q4.

• Board remains confident in ability to secure future financing and advance commercialization.