Clavister Ab · OMXSTO:CLAV
Clavister Ab — Q1 2026 Earnings Presentation
18 slides from Clavister Ab's earnings presentation, May 7, 2026
Slide 1: Interim Report January – March 2026
Interim Report Clavister AB (publ) Org. No. 556917-6612 January – March 2026
Slide 2: Summary of the Quarter
2 Summary of the Quarter Key Metrics Highlights from the Quarter (MSEK) Q1 2026 Q1 2025 2025 Clavister awarded 280 MSEK Tactical Communications Contract by Order Intake 312.9 110.3 320.0 Norwegian Defence Materiel Agency. 23.4 Order Intake Growth 183.6 % 190.3 % % Initial order for Cross-Domain
Slide 3: Comments by the CEO
3 Comments by the CEO The first quarter of 2026 marked a strong start to the year and 3 MSEK — a clear improvement compared to the negative deal, somewhat back-loaded due to delivery guarantees, with represents an important step in Clavister’s development, where result in the corresponding quarter l
Slide 4: CEO comments continued and outlook
4 in complex, security-critical environments. Furthermore, it groups. This is a clear example of how we are methodically seek European alternatives that meet requirements for security, strengthens our credibility in discussions with other defense building a scalable business model in the civilian se
Slide 5: Comments on Financial Statement
5 Comments on Financial Statement Order Intake Total order intake for the quarter amounted to 312.9 (110.3) MSEK, a year-on-year increase of 183.6 %. The increase is mainly explained by the won contract with the Norwegian Defence Materiel Agency of 280 MSEK. Deals within the defence sectors are typi
Slide 6: Net sales, ARR, gross margin and operating expenses
6 Figure 4. Development of ARR 2022 – 2026 Q1. Please note that ARR for Q4 2025 has been adjusted and therefore does not correspond to the figures reported in Q4 2025 report. Deals providing recurring license revenue are the norm in Clavister’s sales. An exception is sales to the defence sector, whi
Slide 7: Financial net, tax and result after tax
7 The financial net consists of the following non-cash items; currency revaluations for long-term liabilities 0 (12.9) MSEK, long-term interest to lenders 0 (-2.2) MSEK and costs for warrants as well as costs related to long-term liabilities -0.2 (-0.8) MSEK. The financial net consists of the follow
Slide 8: Interest-bearing Liabilities
8 Interest-bearing Liabilities Swedish Tax Authority for parts of the previously received On 31 March 2026, interest-bearing liabilities amounted to Covid-19 support. 149.3 (194.1) MSEK, distributed between long-term liabilities of Material Post-Closing Events 102.7 (150.8) MSEK and short-term liabi
Slide 9: Condensed Consolidated Income Statement
9 Condensed Consolidated Income Statement (TSEK) 2026 2025 2025 Jan - Mar Jan - Mar Jan - Dec Net sales 71,818 53,352 219,225 Other revenue 1,275 855 5,322 Total revenue 73,093 54,207 224,547 COGS -14,077 -13,461 -50,820 Gross profit 59,016 40,746 173,727 Cap. Dev. Expenses 8,246 9,379 38,403 Staff
Slide 10: Condensed Consolidated Balance Sheet
10 Condensed Consolidated Balance Sheet (TSEK) 2026-03-31 2025-03-31 2025-12-31 (TSEK) 2026-03-31 2025-03-31 2025-12-31 Assets Equity,and,liabilities, Non-current assets Equity, Goodwill 66,697 66,697 66,697 Equity 95,485 -81,222 94,086 Intangible,assets 109,038 110,473 110,904 Total,equity, 95,485
Slide 11: Condensed Statement of Changes in Equity
11 Condensed Statement of Changes in Equity (TSEK) 2026 2025 2025 Jan - Mar Jan - Mar Jan - Dec Equity, beginning of period 94,086 -84,185 -84,185 Cash issue 0 0 230,031 Issue expenses 0 -95 -15,464 Non-registered issue 0 0 -41,474 Share-based compensation 0 0 0 Other total income for the period 16
Slide 12: Condensed Consolidated Cash Flow Statement
12 Condensed Consolidated Cash Flow Statement (TSEK) 2026 2025 2025 Jan - Mar Jan - Mar Jan - Dec Profit (loss) before taxes 1,389 3,167 -25,477 Reversal of depreciation and write-downs 11,484 11,052 44,091 Other adjustments for non-cash items, etc * 96 -9,897 5,700 Paid taxes -1,818 -114 243 Cash f
Slide 13: Condensed Income Statement for Parent Company Clavister AB
13 Condensed Income Statement for Parent Company Clavister AB (TSEK) 2026 2025 2025 Jan - Mar Jan - Mar Jan - Dec Net sales 2,251 2,250 9,005 Total revenue 2,251 2,250 9,005 Staff costs -4,915 -4,499 -13,444 Other external costs -1,640 -951 -4,808 EBITDA -4,304 -3,200 -9,247 Financial items -1,608 -
Slide 14: Condensed Balance Sheet for Parent Company Clavister AB
14 Condensed Balance Sheet for Parent Company Clavister AB (TSEK) 2026-03-31 2025-03-31 2025-12-31 Assets Fixed assets Shares in group companies 475,155 475,155 475,155 Receivables from group companies 40,429 4,945 34,908 Total fixed assets 515,583 480,100 510,063 Current assets Current receivables
Slide 15: Notes
15 Notes Note 1 Accounting Policies % of total & Scholes model and has therefore not affected the Group’s The consolidated financial statements have been prepared in THE 10 LARGEST Number of shares number Income statement by any charges. accordance with the International Financial Reporting SHAREHOL
Slide 16: Note 5 Pledged Assets and Alternative Performance Measures
16 Note 5 Pledged Assets Note 7 Alternative Performance Measures Contract Renewals – Total net sum of renewals of existing Clavister uses various key figures, including alternative license agreements in the period. GROUP performance measures (APMs), for internal analysis purposes and for external co
Slide 17: Note 9 Financial Metrics
17 Note 9 Financial Metrics TSEK 2026 2025 2025 Jan - Mar Jan - Mar Jan - Dec Net sales (TSEK) 71,818 53,352 219,225 Total revenue (TSEK) 73,093 54,207 224,547 Gross profit (TSEK) 59,016 40,746 173,727 Gross margin (%) 80.7 % 75.2 % 77.4 % EBITDA (TSEK) 13,960 6,607 35,198 Operating profit (TSEK) 2,
Slide 18: Report Information
18 Report Information Financial Calendar Annual General Interim Report Interim Report Interim Report Meeting Apr - June 2026 July - Sept 2026 Oct - Dec 2026 19 May 2026 20 August 2026 12 November 2026 11 February 2027 The Share Any forward-looking statements in this report Exchange: Nasdaq First Nor
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