Cyviz As · OSL:CYVIZ
Cyviz As — Q2 2026 Earnings Presentation
17 slides from Cyviz As's earnings presentation, August 2026
Slide 1: Q2 2026 Financial Results
Q2 2026 Financial Results Cyviz AS
Slide 2: Agenda and Presenters
Agenda and Presenters Q2 2026 highlights Business review Financial review Espen Gylvik | CEO Outlook Q&A Lars Hjarrand | CFO Q2 2026 2
Slide 3: Underlying activity stayed strong and the pipeline kept building through Q2
Underlying activity stayed strong and the pipeline kept building through Q2. Order intake grew 2% year over year and 27% vs last quarter despite geopolitical uncertainty continuing to delay customer investment decisions, shifting deal timing, not underlying demand. Financial highlights Business high
Slide 4: Significant Q2 Wins
Significant Q2 Wins New win Saudi Arabia USD 3M + New win Saudi Arabia USD 600K + Saudi utility company has reaffirmed Cyviz as its collaboration Cyviz remains trusted partner for collaboration technology with a and communication partner for a new project in the region key investment organization,
Slide 5: Order Intake Development
Order Intake Development • We closed Q2 at NOK 126m, up 400 384 850 12-Month Rolling 800 27% from the first quarter. Two Order Intake (mNOK) 750 350 700 largest contracts were a utility +2% 300 650 company in Saudi Arabia and 600 250 243 550 Defense contracts in Europe 500 208 450 constitute 25% of
Slide 6: Annual Recurring Revenue (ARR)
Annual Recurring Revenue (ARR) Quarter-end ARR MNOK • ARR increased to NOK 76.8m from NOK 66.0m during Q2, with several new contracts. The pipeline of projects provide further potential for continued ARR growth going forward. +57% 76.8 • ARR growth in line with Cyviz’ strategic plan. 67.5 65.8 66.0
Slide 7: Q2 Financials
Q2 Financials Q2 2026 7
Slide 8: Revenue Development
Revenue Development -35% 220 Revenue (mNOK) 204 • Revenues of NOK 84m in Q2 as a 200 189 180 result of weak order intake in Q1, 160 160 139 136 some delays of projects and 140 129 120 107 107 negative impact of new revenues 100 95 84 recognition policy (negative 80 60 approx. NOK 3M in Q2 and NOK 40
Slide 9: Gross margin
Gross margin Gross Margin % Last 12 Months % 75 73% 70 • The Q2 gross margin of 65% 67% reflects a favorable product mix, 65% including a higher share of 65 software and services, and at the same time lower share of turn-key 60 projects and 3rd party hardware 55% • The gross margin will continue to
Slide 10: OPEX
OPEX Opex (mNOK) -4% 80 75.7 72.3 71.3 70.5 68.2 69.5 68.6 70 66.5 66.9 66.9 • Opex in Q2 was slightly lower than 60 trend due to prudency and tight cost 50 control 40 30 • Continued focus on cost efficiency is 20 anticipated to yield further decrease 10 in opex in the second half of the year. 0 Q1-
Slide 11: EBITDA
EBITDA EBITDA (mNOK) -457% 25 19.8 21.1 20 • The EBITDA of negative NOK 15 14.5m is the direct result of the 10 9.1 other P&L items, mostly 5.2 5 2.2 1.2 2.3 affected by the relatively low 0 revenues in the quarter -5 -2.6 -10 • EBITDA will fluctuate as the -15 -14.8 -14.5 timing of projects still h
Slide 12: Balance sheet
Balance sheet Balance Sheet 30/06/2026 31/12/2025 30/06/2025 • The reduction in Total assets is Total non-current assets 126.0 107.0 98.3 mainly due to a decrease in A/R as a result of timing of closed deals Cash and cash equivalents 6.8 18.0 7.6 • Interest bearing liabilities of NOK Other current a
Slide 13: Cash Flow
Cash Flow Cashflow Statement Q2 2026 Q2 2025 YTD 2026 YTD 2025 • The negative operating cash flow is due to the net result coupled with EBITDA -14.5 -2.6 -29.2 -1.4 changes in net working capital, Income tax, changes in accruals and other expenses -23.2 -1.8 -23.1 -12.8 where we saw a positive cash
Slide 14: Outlook
Outlook Q2 2026 14
Slide 15: Backlog Development
Backlog Development Backlog (mNOK) • Significant increased order- 450 443 +43% backlog due to increased order- 428 428 intake and weaker revenue in Q1 402 400 380 and Q2 than plan. 375 376 359 347 350 338 • No deals cancelled 311 302 300 281 273 256 • A majority of this is expected to be 250 222 228
Slide 16: Outlook
Outlook Short-term outlook Medium term outlook • Positive market backdrop, with strong underlying activity continuing 2030 ambitions into H2. Defense emerging as a structural growth driver, widening the • >NOK 1bn revenue addressable market significant. • ~700m turn-key; ~200 integrator kit; ~170m S
Slide 17: Q&A
Q&A Q2 2026 17