MIPS AB (publ) (MIPS) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone, my name is Max Ramvits, I am the CEO of NIPS and with me today we also have our CFO Karin Rosenthal and we will take you through the interim report of the second quarter 2026. So if we start with the quarter we did see strong development with 72% growth in the quarter. Organic growth was 42% so we adjust for Forex which was more or less flat and then of course we also adjust for acquisition effect. So very strong organic growth. Year-to-date growth is now at 53% and organic growth level at 35%. We do see strong momentum in all categories and all geographies. Continued strong performance in Europe. US growth helped by the acquisition and software comparators after the implementation of tariffs last year. If we start with Europe, we did see strong organic growth with 48% growth in the quarter. And if we look at the US market, we actually managed to deliver a 32% organic growth. So very, very strong number in a challenging market. The Goroid acquisition is developing well, good interest from existing and new customers to integrate new products. We did reach a settlement agreement regarding the legal dispute in the US. It was actually not in the quarter. It was signed on the 2nd of July, but a very important factor. So good to put that behind us. We did see good improvement also in profitability. Adjusted EBIT margin in the quarter was 47%. So also very strong development in profitability. And it's also a strong testimony of our scalable business model. And we remain confident in our long-term strategy and our financial target. If we start with the biggest category and look at sports, we saw good development. It was a good quarter with 51% net sales growth in sport. Adjusting for acquisition and forex, organic growth was 40%. We saw good developmen...