Solid Clouds (SOLID) H1 2026 earnings summary

Executive summary

• Revenue for the period 1 January to 30 June 2026 was ISK 36.9 million, down from ISK 74.2 million year-over-year.

• Net loss for the period was ISK 122.1 million, compared to a loss of ISK 127.1 million in the same period last year.

• Total assets at the end of June 2026 were ISK 1,325.9 million, with equity of ISK 1,181.2 million.

• The company had 11 employees during the period.

Financial highlights

• Operating loss for the first half of 2026 was ISK 118.3 million, compared to ISK 110.3 million year-over-year.

• Cash at the end of June 2026 was ISK 9.8 million.

• The company expects a refund of ISK 109.0 million from Rannís for R&D costs in November 2026.

• Gross margin on game revenue was ISK 30.9 million, down from ISK 60.8 million year-over-year.

Outlook and guidance

• Management expects a significant R&D refund in November 2026, which will improve liquidity.