Hexagon Purus Asa (HPURF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi, and welcome to Hexacomputers Q1 2026 presentation. We are sorry for the delay. My name is Mattias Meilen, and I am the IR Director of Hexacomputers. I will be moderating from the studio in Oslo, and from the studio, I'm also joined by Group CEO, Morten Holum, and Group CFO, Salman Alaou. The agenda for today includes, as usual, highlights from the quarter, a company update, the financials, and the outlook. We will end the presentation with a Q&A session, so please feel free to enter your questions via the function on your screen. And with that, I will pass right over to you, Morten, who will take us through the highlights of the quarter. Thank you, Mattias, and good morning, everyone. Thanks for tuning in to our webcast today. Let's start by looking at the key developments in the first quarter. Number one. Revenue improved year over year. Headline revenue, including one-off gains from transactions, was 405 million NOC, 76% higher than last year. On a like-for-like basis, excluding the one-offs, underlying revenue of 271 million NOC was 29% higher than Q1 last year. Number two, we took steps to further reduce costs in Q1. Executing additional workforce reductions across the group to better align the cost base with the current market environment. Number three, we completed the divestment of the U.S. aerospace business to SpaceX. And finally, number four, we signed a financing agreement with CIMC Enric for the joint venture in China. All in all, an active quarter where we took several decisive actions that extends the liquidity runway and improves the cost position of the company. The impact of this will be increasingly visible in our accounts in the coming quarters. Starting with revenue on the left. Headline revenue of $405 million, 76% higher than last year. That...