Mips Ab (publ) Stock Earnings Reports

Mips reported a very strong Q2 2026 with 72% reported net sales growth and 42% organic growth (YTD: 53%/35% organic). Growth was broad-based across regions and categories: Europe remained particularly strong (48% organic in Q2), the U.S. showed resilient performance (32% organic), and Asia is recovering (Q2 up ~80% versus small base). Category highlights: Sports grew ~51% (40% organic) driven by bike and snow; Moto grew ~80% (56% organic) led by off-road; Safety surged after the Koroyd acquisition (net sales SEK 33m in Q2, +604% reported, ~80% organic), with entry into firefighting helmets (Dräger) and expansion into body protection, gloves and footwear. Integration of Koroyd is progressing well and seen as accretive to product offerings and growth. Profitability improved: gross margin ~74%, adjusted EBIT margin 46.7% in Q2 (47% reported), adjusted EBIT up 98% vs prior year. Operating cash flow improved (SEK 62m in Q2; SEK 80m for first six months); cash balance SEK 187m after a SEK 66m dividend and SEK 300m RCF utilization. Management reiterated long-term targets and scalability of the business but cautioned that the legal settlement (USD 3.25m) will be recognized in Q3 and will add modest legal/settlement-related costs. Guidance posture: management expects to continue targeting >30% organic growth and to progress towards a >50% EBIT margin over time, though they do not expect to reach 50% for the full year. Management remains open to further M&A when the right opportunities arise.