Slide 1: Q1 2026 and FY 2026 Guidance
Q1 2026 and FY 2026 Guidance An uneventful quarter, guidance confirmed CEO Sverre Flatby CFO Einar Bonnevie Oslo, 21 Mai 2026
Slide 2: Key Highlights
Key Highlights Q1 2026 Leverage & 30 minutes Guidance Financing presentation M&A Q&A AI Financials 2
Slide 3: Key Highlights
Key Highlights Q1 2026 Leverage & Guidance Financing M&A AI Financials 3
Slide 4: First quarter 2026 Performance: Revenue
First quarter 2026 Performance Reported Revenue Reported growth Q/Q 119 MNOK -2% 4
Slide 5: First quarter 2026 Performance: Recurring Revenue
First quarter 2026 Performance Reported Recurring Revenue Reported growth Q/Q 98 MNOK +5% 5
Slide 6: Income composition Q1
Key Figures LIMS 15% OF SALES, PER BUSINESS AREA DISTRIBUTION Woman & Child 10% Emergency 45% Health Analytics Connected 6% Imaging 18% LIMS 15% Medication Management 6% Woman & Child 10% Income composition Health Analytics 6% Medication Management 6% DISTRIBUTION OF SALES, PER COUN
Slide 7: First quarter 2026 Performance: EBITDA
First quarter 2026 Performance Reported EBITDA Reported EBITDA Margin 24 MNOK 20% 7
Slide 8: Key Highlights
Key Highlights Q1 2026 Leverage & Guidance Financing M&A AI Financials 8
Slide 9: Current Pro Forma Growth Outlook 2026-2027
Current Pro Forma Growth Outlook 2026-2027 800 700 Acquired business 600 500 400 EBITDA 300 EBITDA Organic business 28-32% 28-32% 200 100 0 2026 2027 9
Slide 10: Guidance and growth ambitions
Guidance and growth ambitions 1400 Growth ambitions 1200 1000 800 Actuals Guidance 600 400 200 0 2025 2026 2027 2028 2029 2030 Revenue Base Acquired Revenue 10
Slide 11: Key Highlights
Key Highlights Q1 2026 Leverage & Guidance Financing M&A AI Financials 11
Slide 12: AI assists Omda— It is not a threat to our position
AI assists Omda— It is not a threat to our position • Omda delivers certified software for life-critical workflows • AI increases productivity - it does not reduce relevance 12
Slide 13: What AI agents are doing for Omda’s developers today
What AI agents are doing for Omda’s developers today Development process à2025 Development process 2026à Omda is not achieving a cyclical efficiency gain, but a structural shift in the development cost curve 13
Slide 14: Q1 2026: AI Governance Framework Established
Q1 2026: AI Governance Framework Established Key achievements Q1 2026 Why it matters • Group-wide AI governance • Supports scalable AI adoption framework established across the Group • Governance aligned with ISO • Strengthens compliance and 42001, EU AI Act, GDPR/MDR certification readiness • Forma
Slide 15: Key Takeaways
Key Takeaways • Revenue 119 MNOK • 24 MNOK EBITDA • 2026 Guidance reiterated – 500-525 MNOK – 28-32% EBITDA • 2026-2027 Inorganic growth target 10-20% reiterated • AI Governance Framework Established 15
Slide 16: Key Highlights
Key Highlights Q1 2026 Leverage & Guidance Financing M&A AI Financials 16
Slide 17: Q1-25 vs Q1-26
Q1-25 vs Q1-26 Income Income per FX 140 000 19 % 120 000 100 000 80 000 2% 60 000 40 000 58 % 17 % 20 000 - 4% Q1 2025 Q1 2026 Recurring Software Revenue Professional Services License sales Hardware EUR GBP NOK Other SEK 17
Slide 18: Steadily increasing recurring SW revenues
Steadily increasing recurring SW revenues Quarterly development recurring revenues last four quarters (MNOK) 450 400 98 MNOK 392 MNOK 350 Recurring revenue Q1’26 ARR1) as of Q1’26 300 250 MNOK 200 150 100 50 0 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 R 7 -Q 7 -Q 7 -Q
Slide 19: Our financial targets and assumptions next five years
Our financial targets and assumptions next five years • Organic growth 5-10% • Acquired growth 10-20% pa • EBITDA >30% • Capex from 10% to 5% • COGS from ~6% to 5% • Persex < 50% • Other cost ~10% • Bond loan ≥ 500 MNOK – Interest closer to 5% than 10% 19
Slide 20: Key Highlights
Key Highlights Q1 2026 Leverage & Guidance Financing M&A AI Financials 20
Slide 21: Current M&A Pipeline >400 targets
Current M&A Pipeline >400 targets 80 70 60 50 40 30 20 10 0 Qualified Targets Under Analysis Early discussions Active Dialogue 21
Slide 22: M&A in short
M&A in short • We maintain our goal of 10-20% inorganic growth • Bolt-ons vs larger more transformative deals – Less money for more value? • The current market provides more opportunities than challenges from an M&A perspective • Target valuation vs Omda valuation – Share buyback etc to be evaluated
Slide 23: Key Highlights
Key Highlights Q1 2026 Leverage & Guidance Financing M&A AI Financials 23
Slide 24: NIBD/EBITDA: Deleveraging to continue
Deleveraging to continue Leverage 7,0 6,0 5,0 NIBD/EBITDA 4,0 3,0 2,0 1,0 - 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 1Q27 2Q27 3Q27 4Q27 LFQ EBITDA HY BB+ BBB+ (IG) Makes debt repayment irrelevant
Slide 25: Lower leverage + strong performance -> refinancing
Lower leverage + strong performance -> refinancing • Interest is the single largest cost (cash) item in our P&L • Current bond callable in Dec 2026 @104.30 – Make whole until then • Omda02PRO is currently trading <200 bps • Refinancing is on the agenda • Financing currency should reflect income FX 2
Slide 26: Summary
Summary • Q1 2026: An uneventful but profitable quarter • 2026: Guidance confirmed • High M&A activity • Growth ambitions maintained • Refinancing being actively considered 26
Slide 27: Q&A
Q&A 27