Cardeon (CARDEO) Q2 2026 earnings summary

Executive summary

• High activity in the portfolio with focus on long-term value creation despite a challenging life science market climate.

• Several portfolio companies made operational and strategic progress, including financing, clinical milestones, and preparations for public listings.

Financial highlights

• Q2 2026 net revenue was 476 KSEK, down from 1,601 KSEK year-over-year; H1 2026 net revenue was 925 KSEK, down from 3,192 KSEK.

• Q2 operating result was -1,629 KSEK (vs. -1,613 KSEK); H1 operating result was -4,108 KSEK (vs. -3,337 KSEK).

• Q2 cash flow was -393 KSEK (vs. -86 KSEK); H1 cash flow was 199 KSEK (vs. -185 KSEK).

• Result after financial items in Q2 was 345 KSEK (vs. -1,563 KSEK); H1 was -2,993 KSEK (vs. -3,096 KSEK).

• Liquid assets at period end were 217 KSEK (vs. 23 KSEK).

Outlook and guidance

• Focus remains on developing portfolio companies toward value-creating milestones and seeking financing structures to unlock underlying value.

• Management believes the company is positioned with interesting opportunities and is committed to continued development in coming quarters.

• Board assesses that current business plan and financing options are sufficient for the next twelve months.