Braincool (BRAIN) Q2 2026 earnings summary

Executive summary

• Achieved over 70% sales growth year-over-year, driven by strong demand for single-use products and a growing installed base.

• Order backlog remained high at approximately 42 MSEK at the end of the period.

• Expansion in Asia with early market approval in Taiwan and preparations for Japan market entry.

• Strengthened organization with key hires in commercial and clinical roles to support ongoing clinical studies and commercial growth.

Financial highlights

• Net sales for Q2 2026 reached 11.3 MSEK, up 72% from 6.6 MSEK in Q2 2025; at constant exchange rates, sales were 13.1 MSEK.

• Gross profit for the quarter was 3.1 MSEK (1.9 MSEK in Q2 2025), with a gross margin of 21% (31% at CER).

• EBITDA improved to -7.4 MSEK from -9.9 MSEK year-over-year.

• Net result after tax was -8.4 MSEK, compared to -10.8 MSEK in Q2 2025.

• Cash position at period end was 43.1 MSEK, up from 9.5 MSEK a year earlier.

Outlook and guidance

• Strong order intake and backlog expected to drive increased net sales in the second half of 2026.

• Continued investments in production capacity and automation to meet rising demand.

• Anticipated regulatory milestone with expected market approval in Japan in H2 2026.