Onward Medical N.v. · EURONEXT:ONWD
Onward Medical — H1 2026 Earnings Presentation
43 slides from Onward Medical's earnings presentation, Sep 9, 2026
Slide 1: Half Year Report 2026
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Slide 2: Table of Contents
1 2 3 4 5 6 7 8 9 10 11 Table of Contents 1 Message from the CEO 4 6 Condensed Consolidated Interim Statements 30 9 Overview of Risks 72 Profit & Loss 32 2 At a Glance 8 Comprehensive Income 36 Financial Position 38 10 Forward-Looking Information / Statements 76 3 11 Changes in Equity 42 Business Re
Slide 3: Message from the CEO
ONWARDMEDICAL Message from the CEO
Slide 4: Message from the CEO
1 2 3 4 5 6 7 8 9 10 11 Message from the CEO Dear Shareholders, Colleagues, Partners, and Collaborators, For the nine million people worldwide living with a spinal cord injury (SCI), the loss of movement, We strengthened our balance sheet, successfully raising more than EUR 40 million in equity func
Slide 5: At a Glance
ONWARDMEDICAL Ata Glance
Slide 6: At a Glance
1 2 3 4 5 6 7 8 9 10 11 At a Glance Our Vision Empowered by independence, people with spinal cord injury will enjoy life in the ways that matter to them We are a commercial stage neurotechnology company Global Presence Market Opportunity pioneering neuromodulation therapies to restore HQ in the Neth
Slide 7: H1 2026 Highlights
1 2 3 4 5 6 7 8 9 10 11 At a Glance H1 2026 Highlights 159 14 +2 €4.2M ARCEX Systems sold or under Centers active in the Empower ARCBCI human implants Total revenues and other income paid evaluation BP global pivotal study 150+ 16 7 €40M Clinics equipped with ARCEX in Empower BP study Study particip
Slide 8: Business Review
ONWARDMEDICAL Business Review
Slide 9: Business Review
1 2 3 4 5 6 7 8 9 10 11 Business Review In the first half of 2026, we made meaningful progress advancing ARC Therapy across our purpose-designed platform pairing a brain-computer interface with an three breakthrough technology platforms. Here are some detailed highlights: implantable spinal cord sti
Slide 10: ONWARD ® Medical Half Year Report 2026
1 2 3 4 5 6 7 8 9 10 11 ONWARD® Medical Half Year Report 2026 19
Slide 11: Financial Review
Financial Review
Slide 12: Financial Review
1 2 3 4 5 6 7 8 9 10 11 Financial Review 4.2 M EUR’ Million Total Revenues & Other Income For the six-month period ended, 30 June HY 2026 HY 2025 Total revenues and other income increased substantially to Total Revenues & Other Income 4.2 1.2 Total revenues and other income EUR 4.2 million in HY 202
Slide 13: Financial Review
1 2 3 4 5 6 7 8 9 10 11 Financial Review Total Operating Expenses completion of a private placement in April 2026, which generated gross proceeds of EUR 40.6 million, substantially strengthening the Company’s balance sheet and providing Operating expenses increased to EUR 26.3 million in HY 2026 fro
Slide 14: 2026 Outlook
ONWARDMEDICAL 2026 Outlook
Slide 15: 2026 Outlook
1 2 3 4 5 6 7 8 9 10 11 2026 Outlook In the second half of 2026, we expect to continue the steady and consistent execution of our strategy as we drive revenue growth and advance our innovation pipeline. • Continued strong demand for the ARCEX System and positive feedback from users suggest that we a
Slide 16: Condensed Consolidated Interim Statements
Condensed Consolidated Interim Financial Statements
Slide 17: Profit & Loss
1 2 3 4 5 6 7 8 9 10 11 Condensed Consolidated Interim Financial Statements Profit & Loss For the six-month period ended, 30 June 2026 2025 All amounts in EUR ‘000 Notes Unaudited Unaudited Revenue 3,419 1,035 Grants & Other Income 773 150 Total Revenues & Other Income 4,192 1,185 Cost of Goods sold
Slide 18: Condensed Consolidated Interim Statement of Profit & Loss
1 2 3 4 5 6 7 8 9 10 11 Condensed Consolidated Interim Statement of Profit & Loss Net Finance Cost (1,016) (1,025) Loss for the Period Before Taxes (24,351) (20,998) Income taxes 13 (311) (180) Net Loss for the Period (24,662) (21,178) Attributable to: Equity holders of the parent (24,662) (21,178)
Slide 19: Comprehensive Income
1 2 3 4 5 6 7 8 9 10 11 Condensed Consolidated Interim Financial Statements Comprehensive Income For the six-month period ended, 30 June 2026 2025 All amounts in EUR ‘000 Notes Unaudited Unaudited Net Loss for the Period (24,662) (21,178) Remeasurement of post-employment benefits – 526 Other compreh
Slide 20: Financial Position
1 2 3 4 5 6 7 8 9 10 11 Condensed Consolidated Interim Financial Statements Financial Position 30 June 2026 31 December 2025 All amounts in EUR ‘000 Notes Unaudited Audited Assets Non-Current Assets Intangible fixed assets 6 8,740 8,733 Property, plant and equipment 723 534 Right of use assets 258 5
Slide 21: Statement of Financial Position: Equity & Liabilities
1 2 3 4 5 6 7 8 9 10 11 Condensed Consolidated Interim Statement of Financial Position Equity & Liabilities Equity & Reserves Issued capital 8,343 6,721 Share premium 302,111 264,354 Other reserves 9 8,703 6,799 Retained earnings (247,220) (222,558) Total Equity Attributable to Shareholders 71,937 5
Slide 22: Changes in Equity
1 2 3 4 5 6 7 8 9 10 11 Condensed Consolidated Interim Financial Statements Changes in Equity For the six-month period ended, June 30 All amounts in EUR ‘000 Notes Issued Capital Share Premium Other Reserves Retained Earnings Total Equity At 1 January 2026 6,721 264,354 6,799 (222,558) 55,316 Loss f
Slide 23: Cash Flows
1 2 3 4 5 6 7 8 9 10 11 Condensed Consolidated Interim Financial Statements Cash Flows For the six-month period ended 30 June 2026 2025 All amounts in EUR ‘000 Notes Unaudited Unaudited Loss for the Period Before Taxes (24,351) (20,998) Adjusted for: • Depreciation and impairment of property, plant
Slide 24: Statement of Cash Flows: Investing and Financing
1 2 3 4 5 6 7 8 9 10 11 Condensed Consolidated Interim Statement of Cash Flows Cash flows from investing activities Investments in fixed assets (383) (222) Investments in intangible fixed assets – – Investments in fixed term deposits (52,775) – Net cash generated/(used) from investing activities (53
Slide 25: Notes to the Condensed Consolidated Interim Financial Statements
Notes to the Condensed Consolidated Interim Financial Statements
Slide 26: Notes: General Information and Basis of Preparation
1 2 3 4 5 6 7 8 9 10 11 Notes to the Condensed Consolidated Interim Financial Statements Notes 1. General Information 2. Basis of Preparation ONWARD Medical B.V. was a Dutch private company with limited liability (besloten vennootschap The Company’s Condensed Consolidated Interim Financial Statement
Slide 27: Continuity of the Group; Standards; Segment
1 2 3 4 5 6 7 8 9 10 11 Notes to the Condensed Consolidated Interim Financial Statements 3. Continuity of the Group In preparing the interim consolidated financial statements for the six months ended 30 • Monitor and control discretionary expenditures through disciplined cost management June 2026, m
Slide 28: Intangible Fixed Assets, Inventories, Financial Liabilities
1 2 3 4 5 6 7 8 9 10 11 Notes to the Condensed Consolidated Interim Financial Statements 6. Intangible Fixed Assets 8. Financial Liabilities 30 June 2026 31 December 2025 8.1 Interest Bearing Loans Unaudited Runway Growth loan Goodwill 1,790 1,738 On 02 July 2024, the Group was granted a loan from R
Slide 29: Financial Liabilities: Carrying Amount and Fair Value
1 2 3 4 5 6 7 8 9 10 11 Notes to the Condensed Consolidated Interim Financial Statements Balance at 30 June 2026 Carrying Amount Fair Value At 30 June 2026 Financial liabilities Less than 1-3 3-5 More than Runway Growth loan (Level 2) 13,511 15,512 1 Year Years Years 5 Years Total Lender warrants (l
Slide 30: Issued Capital & Reserves; Loss per Share
1 2 3 4 5 6 7 8 9 10 11 Notes to the Condensed Consolidated Interim Financial Statements 9. Issued Capital & Reserves 10. Loss per Share The authorized share capital (“maatschappelijk kapitaal”) amounts to EUR 24 million divided into The objective of determining diluted EPS is to reflect the maximum
Slide 31: Revenue and Other Income; Share-based Payments
1 2 3 4 5 6 7 8 9 10 11 Notes to the Condensed Consolidated Interim Financial Statements 11. Revenue and Other Income 12. Share-based Payments 30 June 2026 30 June 2025 30 June 2026 30 June 2025 Unaudited Unaudited Unaudited Unaudited Revenue from sale of devices 3,419 1,035 Opening balance 7,245 6,
Slide 32: Share-based Payments: Option Grants and Parameters
1 2 3 4 5 6 7 8 9 10 11 Notes to the Condensed Consolidated Interim Financial Statements Number The following parameters were used in the option model for the calculation of the fair value Financial Grant Type of of Options Exercise Expiration Fair of the options per grant in 2026: Year Date Securit
Slide 33: Income Taxes; Related Party Transactions
1 2 3 4 5 6 7 8 9 10 11 Notes to the Condensed Consolidated Interim Financial Statements 13. Income Taxes 14. Related Party Transactions Income tax expense is recognized at an amount determined by multiplying the profit (loss) Receivable from and payable to related parties result from the operationa
Slide 34: Commitments & Contingencies; Events after the Reporting Period
1 2 3 4 5 6 7 8 9 10 11 Notes to the Condensed Consolidated Interim Financial Statements 15. Commitments &Contingencies 16. Events after the Reporting Period Legal Claim Contingencies On 1 July 2026 the Group granted 883,293 stock options to employees with an exercise price of EUR 2.55. The conditio
Slide 35: Board's Statements on the Interim Consolidated Financial Statements
Board’s Statements on the Interim Consolidated Financial Statements
Slide 36: Board's Statements on the Interim Consolidated Financial Statements
1 2 3 4 5 6 7 8 9 10 11 Board’s Statements on the Interim Consolidated Financial Statements We have prepared the Interim Condensed Consolidated Financial Statements for the six months ended 30 June 2026 of ONWARD Medical N.V. To the best of our knowledge: • The interim condensed consolidated financi
Slide 37: Overview of Risks
Overview of Risks
Slide 38: Overview of Risks
1 2 3 4 5 6 7 8 9 10 11 Overview of Risks In the Directors’ Report in our Annual Report 2025 we set out an overview of our primary strategic, operational, legal and compliance and financial risks. Financial risks are also described in more detail in the notes to the Consolidated Financial Statements
Slide 39: Forward-Looking Information / Statements
Forward- Looking Information / Statements
Slide 40: Forward-Looking Information / Statements
1 2 3 4 5 6 7 8 9 10 11 Forward-Looking Information / Statements Certain statements, beliefs, and opinions in this document are forward-looking, which employees guarantees that the assumptions underlying such forward-looking statements reflect the Company’s or, as appropriate, the Company directors’
Slide 41: Definitions & Abbreviations
Definitions & Abbreviations
Slide 42: Definitions & Abbreviations
1 2 3 4 5 6 7 8 9 10 11 Definitions & Abbreviations BCI: Brain-Computer Interface: A device implanted on the motor cortex that records brain Net cash: Net cash is defined as the sum of cash and cash equivalents and fixed term signals and sends a person’s intention to move to our ARCIM System, which
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