(GOTHENBURG, Sweden, April 24, 2026, at 08:40 CEST) - Heliospectra AB (publ), a leader in intelligent lighting technology for greenhouse and controlled plant growth environments, presents its Quarter Report for January to March 2026.
The full report is enclosed in this press release and uploaded at https://heliospectra.com/investor-relations/financial-reports-documents/reports/.
SUMMARY OF REPORT
Sales and financial performance January - March 2026
- Order intake during the period amounted to SEK 6,233 (3,129) thousand.
- Net sales during the period amounted to SEK 5,148 (1,901) thousand.
- Operating result during the period amounted to SEK -8,450 (-9,008) thousand.
- Profit after tax was SEK -8,455 (-9,009) thousand.
- Earnings per share*: SEK -0.01 (-0.07)
*Earnings per share before dilution
Cash flow January - March 2026
- Operating cash flow was SEK -17,137 (-4,155) thousand.
- Total cash flow was SEK -17,160 (23,452) thousand.
- Cash equivalents at the end of the period were SEK 9,638 (24,886) thousand.
CEO COMMENT
Dear Shareholders,
As we close the first quarter of 2026, Heliospectra has had an active start to the year, with strong commercial engagement and continued progress across our strategic priorities. While the market environment remains competitive and decision cycles for larger projects are still to some extent uncertain, we see encouraging signs that our positioning continues to strengthen.
We are currently in the main quotation period for greenhouse projects for the 2026/2027 lighting season, and it is therefore still too early to draw firm conclusions on how 2026 will develop in terms of revenue.
High Activity and Market Engagement
The first quarter has been characterized by a busy event season, including participation in Indoor AgCon, Fruit Logistica, HortiContact, and several smaller industry events. These platforms are important for maintaining visibility, strengthening relationships, and engaging with both existing and potential customers.
During the quarter, we have been involved in a number of large-scale greenhouse project discussions in the range of SEK 70-100 million across key markets, including Canada, the Netherlands, and the Nordics. These dialogues confirm that Heliospectra is competitive in both price and performance compared to our peers.
While we have not yet secured one of the larger projects, we are increasingly recognized as a preferred technology partner by growers. Our solutions are valued for their high efficacy and uniformity, supporting strong long-term return on investment for our customers.
At the same time, final investment decisions are in some cases still favoring more established suppliers, reflecting the importance of continued trust-building and reference cases in our industry.
Agtech Segment - Building Partnerships and Presence
Within our Agtech segment, we continue to strengthen our position through close collaboration with customers and solution providers. Building long-term relationships and partnerships remains a key priority, enabling us to expand our ecosystem and deliver integrated solutions - from LED lights to control systems and sensors. During the quarter, we also spent time in Australia and New Zealand, engaging with both existing customers and suppliers while establishing new connections in these important markets.
During these customer visits, we had the opportunity to introduce our new MITRA VF solution for multi-layer reach-in and walk-in climate rooms, featuring four-channel functionality. With the addition of MITRA VF, we have now completed our offering for this segment and can support research institutes across all cultivation environments - from ELIXIA for highly controlled spectrum research, to MITRA X for greenhouse compartments, and MITRA VF for multi-layer climate room applications.
All our LED lighting solutions are integrated through the helioCORE control platform, enabling growers and researchers to manage light intensity and spectrum using our wireless sensor technology.
During the visit, we also secured a project with The New Zealand Institute for Plant & Food Research valued at approximately MSEK 1.3. These efforts support our long-term growth ambitions and reinforce our presence in key regions.
Managing a Competitive Market
The overall market remains highly competitive, with continued pricing pressure especially within the greenhouse segment. In response, our development and supply chain teams have been actively working to optimize the cost structure of our MITRA X platform. Through supplier negotiations and design improvements, we are focused on protecting margins while maintaining the high performance and quality our customers expect.
Innovation Approaching Commercial Launch
We continue to make strong progress in our innovation roadmap. During Q1, we have advanced our data collection efforts for helioSENSE and are moving closer to the commercial launch of our first solution, Light Use Efficiency Threshold (LUEt).
Initial results have been particularly promising in crops such as Phalaenopsis orchids, where achieving the right balance of light is critical. Both excessive and insufficient light can negatively impact plant health and yield, and our solution enables growers to better optimize this balance. In addition to improving crop outcomes, this also contributes to reduced energy consumption - a key priority for growers.
response directly in a greenhouse environment, across representative growing areas and at relatively low cost. In contrast, existing solutions in the market are typically limited to controlled laboratory conditions, involve destructive measurement methods, or require significant capital investment. Our helioSENSE technology, based on fluorescence sensing, is supported by a strong patent portfolio. Looking ahead, we are preparing for GreenTech Amsterdam in June, where we plan to introduce both our new fully controllable MITRA VF multi-layer solution and helioSENSE to the broader market. This will be an important milestone in our commercialization efforts.
Organization and Financial Position
As we continue to build our organization to support future growth, our cost base has increased compared to previous periods. While this reflects deliberate investments in commercial and technical capabilities to support expected growth, it also means that additional capital will be required to support the next phase of our development until larger projects are secured. The Board is therefore actively evaluating financing options and engaging with potential investors.
Looking Ahead
The first quarter confirms that we are moving in the right direction. Our market presence is increasing, our technology offering continues to strengthen, and our pipeline of larger opportunities remains active.
At the same time, we recognize that converting these opportunities into signed projects takes time. Our focus remains on building long-term relationships, demonstrating performance, and continuing to position Heliospectra as a trusted partner for advanced horticulture solutions.
I would like to thank our shareholders for your continued support and trust. We remain committed to executing our strategy and building a stronger, more competitive company.
Bonny Heeren
CEO, Heliospectra AB
Contacts
For More Information:
Rebecca Nordin, Head of IR at Heliospectra | +46 (0)72 536 8116 | ir@heliospectra.com
http://www.heliospectra.com
This information was submitted for publication, through the agency of the contact person set out above, at 08:40 CET on April 24, 2026.
About Us
Heliospectra AB (publ) (Nasdaq First North Growth Market: HELIO) was founded in 2006 in Sweden by plant scientists and biologists with one vision - to make crop production more intelligent and resource-efficient. Today, with customers across seven continents, Heliospectra is the global leader in innovative horticulture lighting technology, custom light control systems and specialized services for greenhouse and controlled plant growth environments. Designed by growers for growers, Heliospectra builds customized LED lighting strategies and controls to automate production schedules, forecast yields and monitor crop health and performance with real-time data and response, to deliver the light plants love and the consistent results growers need.
For more information, please visit https://www.heliospectra.com.
The HELIO share is listed on Nasdaq First North Growth Market, with Redeye Sweden AB as Certified Adviser.
