MIPS AB (publ) (MIPS) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. My name is Max Strambits and I am the CEO of MIPS. With me today, we also have our CFO, Karin Rosenthal, and we will take you through the interim report of the first quarter. So if we look at the key highlights of the quarter Q1, it was a strong start of the year. 30% growth in the first quarter if we adjust for acquisition and impact of Forex. We did deliver an organic growth of 25%. We did see growth in all our three categories and all of the key regions. We did acquire the Koroid business in December last year, and that has been well received in the market with a lot of interest for their products. The sales development at MIPS has a very scalable business model. We see with the strong growth that we see, we also had a good improvement of the profitability. And if we look at our adjusted EBIT in the quarter, even though Historically, Q1 is the smallest quarter of the year. It's one of the best Q1s that we ever had, and we actually managed to deliver a 33% adjusted EBIT margin in the quarter, which also means that our EBIT increased with 50% versus prior year. We continue to see some impact by legal costs, so we did spend 7 million on the legal case and the legal dispute that we have in the US. And of course, we also see a negative impact from Forex headwind in the quarter, which of course also impacts the profitability. We are happy to see that our positive momentum that we see on the market is implemented and impacted by the overall implementation of our strategic initiatives. And of course, especially the actions on product development and marketing. Really good to see that all the actions that we have there has a really positive effect on our overall market performance. In sports, we saw good development, good quarter with 24% net sales ...