VO2 Cap (VO2) Q1 2026 earnings summary

Executive summary

• Entered 2026 with a streamlined structure, new board, and two new brands in digital and outdoor advertising.

• Q1 revenue grew 0.7% year-over-year to 68,517 KSEK; EBITDA margin at 4.4%.

• All segments showed positive development, with AdTech achieving record levels.

• Integration of Leeads and AdProfit completed, forming a leading digital advertising entity.

• Board withdrew previous long-term financial targets, opting for flexible management.

Financial highlights

• Revenue: 68,517 KSEK (68,033 KSEK), up 0.7% year-over-year.

• EBITDA: 3,008 KSEK (3,852 KSEK); EBITDA margin: 4.4% (5.7%).

• EBIT: -867 KSEK (-515 KSEK); EBIT margin: -1.3% (-0.8%).

• Net result after tax: -1,152 KSEK (-1,738 KSEK total, -803 KSEK continuing ops).

• Operating cash flow: -423 KSEK (2,580 KSEK); total cash flow: -3,074 KSEK (7,424 KSEK).

• Earnings per share: -0.02 SEK (-0.03 SEK).

Outlook and guidance

• Board rescinded previous 2026 financial targets due to market conditions; no new targets communicated.

• Focus remains on profitable growth, financial stability, and owner attractiveness.

• Positive market outlook, especially for digital and outdoor channels.