Nexstim (NXTMH) H1 2026 earnings summary

Executive summary

• Revenue grew 16.1% year-over-year to €5.2 million in H1 2026, with adjusted growth of 17.7%.

• Recurring revenue increased 20.6% to €2.5 million, while equipment sales declined 12.4%.

• Net result worsened to a loss of €0.9 million, impacted by one-time financing costs.

• Strategic investments of €5 million from Eiffel Investment Group and Brainlab SE strengthened the balance sheet.

Financial highlights

• Gross margin was 79.9% (down from 80.6%); adjusted gross margin 77.0%.

• EBITDA was €0.3 million, up 9.8% year-over-year.

• Operating loss increased to €0.3 million from €0.2 million.

• Cash and cash equivalents rose to €5.6 million from €2.7 million.

• Equity ratio improved to 61.3% from 31.9% due to the capital raise.

Outlook and guidance

• Revenue is expected to continue growing and operating result to improve in 2026.

• Long-term targets: average annual revenue growth above 20% and EBIT margin above 20%.