Clavister Ab · OMXSTO:CLAV
Clavister Ab — Q2 2026 Earnings Presentation
18 slides from Clavister Ab's earnings presentation, Aug 20, 2026
Slide 1: Interim Report Q2 2026
C Y B E R S E C U R I T Y S O L U T I O N S M A D E I N S W E D E N Interim Report Q2 2026 April – June 2026 John Vestberg, CEO and David Nordström, CFO
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements. Such statements are based on our best assessment at the time of the presentation and are subject to risks and uncertainties that could materially affect our business and results. Clavister expressly disclaim a duty to provide updat
Slide 3: Q2 2026 Highlights
Q2 2026 Highlights Substantial Order Significantly Record-high Backlog and Improved Growth Profitability Extensive Sales Pipeline
Slide 4: Strong Growth and Improved Profitability
Strong Growth and Improved Profitability Net sales grew a record 63 % to a quarterly high of 89 MSEK. Growth was driven by increased defence deliveries, including the recently won NDMA contract. Gross margin rose to 82.5 % (81.1 %), remaining robust despite hardware-intensive defence deliverie
Slide 5: Order Backlog Providing Good Visibility
Order Backlog Providing Good Visibility Order backlog increased 71 % to 642 (375) MSEK, supporting continued civilian and defence growth alongside a strong sales pipeline. 226 MSEK is expected to be delivered and invoiced within the next 12 months. Strong visibility supports longer-term resour
Slide 6: Improved Earnings and Temporary Working Capital Build-Up
Improved Earnings and Temporary Working Capital Build-Up Operating cash flow before working-capital changes improved to 23 MSEK, up from 4 MSEK, driven by stronger underlying earnings. Cash decreased due to working-capital requirements from high delivery activity, continued investments and a sch
Slide 7: Civilian Business – Stable Core with Multiple Growth Avenues
Civilian Business – Stable Core with Multiple Growth Avenues Civilian net sales remained broadly stable, while ARR increased by 5 %. A broad customer base, long-standing relationships and recurring licence revenues provide stability and predictability. Rising cyber threats, regulation and digi
Slide 8: Defence Business – More Platforms and Growing Volumes
Defence Business – More Platforms and Growing Volumes Defence net sales increased 370 % to 47 MSEK, driven by higher deliveries under awarded projects. Clavister technology is integrated into six defence platforms, with a target of at least ten by year-end 2027. Clavister Several platforms rem
Slide 9: Order Intake and Order Book
Order Intake and Order Book Order Intake amounted to 57.0 (76.2) MSEK, -25.1 % Y/Y. Multiple many-year orders in Q2 2025 without corresponding orders this period. LTM Order Intake amounted to 503 (358) MSEK. 642 MSEK Order Book
Slide 10: Strong Net Sales Growth
Strong Net Sales Growth Record quarterly high of 89.2 (54.8) MSEK, +62.9 % Y/Y. Strong revenue contribution from defence deliveries. 19 Consecutive Quarters of Y/Y Growth
Slide 11: Civilian vs Defence Sales
Civilian vs Defence Sales Net Sales relating to defence business amounted to 46.5 (9.9) MSEK, +369.7 % Y/Y. Civilian business stands at 60 % of total Net Sales on an LTM basis.
Slide 12: Continued ARR Growth Trend
Continued ARR Growth Trend ARR Balance at 143 MSEK per end of quarter., +4.5 % Y/Y.
Slide 13: Substantial Gross Profit Increase
Substantial Gross Profit Increase Gross profit amounted to 76.0 (45.2) MSEK, +68 % Y/Y. Gross margin improved despite high sales growth. Sound balance of software and hardware in the product mix. 83 % Gross Margin
Slide 14: Operating Leverage
Operating Leverage OPEX amounted to -59.2 (-49.2) MSEK. The increase in OPEX represents build-up of sales and delivery capacity.
Slide 15: Strong Profitability Development
Strong Profitability Development Adjusted EBITDA improved to 27.1 (9.1) MSEK margin of 30.4 (16.6) %. Adjusted EBIT increased to 15.1 (-2.4) MSEK margin of 17.0 (-4.5) % Net Result improved to 10.0 (-15.9) MSEK
Slide 16: Outlook
Outlook Entering H2 2026 with a strong order backlog, improved profitability and a strengthened market position. Priorities remain successful contract execution, accelerating civilian growth and scaling the defence business. Shared technology, expertise, investments and references create syner
Slide 17: Q&A
CLOVISTer QaA
Slide 18: Thank you for your participation
Thank you for your participation - hope to see you again at our Q3 2026 interim presentation!
Clavister Holding AB (publ.) — Q2 2026 Earnings Presentation on 6ix