USWE Sports (USWE) Q1 25/26 earnings summary

Executive summary

• Net sales rose 42% year-over-year to 41.1 MSEK, with adjusted organic growth at 37%.

• EBITDA improved to 1.0 MSEK from -2.0 MSEK, and operational EBIT reached 52 KSEK from -3.0 MSEK.

• Cash flow from operations was 9.4 MSEK, aided by a 4.6 MSEK one-time inventory sale.

• Sale of VOID Cycling brand completed during the quarter.

Financial highlights

• Gross profit was 19.7 MSEK, with a gross margin of 48% (54% adjusted for one-off inventory sale).

• Result before tax improved to -2.8 MSEK from -4.8 MSEK year-over-year.

• Earnings per share were -0.39 SEK, up from -0.83 SEK.

• Cash and cash equivalents at quarter-end were 8.6 MSEK.

• Net debt improved to -1.9 MSEK from -9.0 MSEK.

Outlook and guidance

• Management expects continued market uncertainty, especially in North America, but sees growth opportunities through direct channels and key retailers.

• Focus remains on cash flow, inventory management, and scalable growth.