The Quarter (April-June)
- Order intake totaled 76 MSEK (1,092)
- Revenue totaled 245 MSEK (166)
- EBITDA totaled 87 MSEK (63)
- Operating profit totaled 47 MSEK (27)
- Profit for the period totaled 41 MSEK (22)
- Earnings per share, after dilution, totaled 0.36 SEK (0.20)
- Cash flow from operating activities totaled 96 MSEK (-69)
The Period (January-June)
- Order intake totaled 88 MSEK (1,109)
- Revenue totaled 505 MSEK (256)
- EBITDA totaled 207 MSEK (81)
- Operating profit totaled 126 MSEK (11)
- Profit for the period totaled 111 MSEK (18)
- Earnings per share, after dilution, totaled 0.99 SEK (0.16)
- Cash flow from operating activities totaled 171 MSEK (-3)
Significant Events During the Quarter
- Launch of next-generation mobile satellite terminal - Ovzon T8
- Renewal order of 74 MSEK for a five-month period from European NATO customer comprising Ovzon's complete SATCOM solution
Significant Events After the End of the Quarter
- Order from new NATO customer of 40 MSEK where half pertains to Ovzon's mobile satellite terminals and the service part is for 6 months
- Supplementary order from European customer of 36 MSEK for additional mobile satellite terminals
Strong Execution in a Transforming Market
Ovzon continues to strengthen its position as a provider of sovereign and resilient satellite communications. The second quarter of 2026 demonstrates our continued solid operational execution and improved financial position. However, during the first half of the year, some expected renewals have taken longer than anticipated and order intake has therefore been below our own expectations. Importantly, we do not view these developments as weakening demand. While procurement cycles remain longer than anticipated, the strategic direction of the market continues to evolve in our favor.
European defense spending is growing at the fastest pace in decades, with European NATO members increasing defense budgets by approximately 20 percent year-over-year. Space, digital infrastructure and resilient communications are increasingly treated as core defense capabilities rather than supporting functions.
Governments are no longer simply deciding whether they need SATCOM, but rather addressing interoperability requirements, allied participation and long-term infrastructure. The market is transitioning, not just growing, and Ovzon takes part in that shift.
Order Intake and Growth
Order intake during the quarter totaled 76 MSEK, reflecting the procurement dynamics described above. Over the last twelve months, order intake totaled 457 MSEK. The order book stands at 668 MSEK.
The 74 MSEK renewal order from a European NATO country is strategically significant beyond its value. It represents the start of an initiative aimed at adding additional European NATO countries to a satellite communication coalition. This positions Ovzon's satellite communication platform as sovereign infrastructure for connectivity, and a backbone for mission-critical operations across allied nations. Our proprietary GEO-based satellite platform is built for exactly this: continuity and seamless integration across defense, national security and public safety operations.
Moreover, we received two new orders after the end of the quarter. A 40 MSEK order from a new NATO customer and a supplementary order of 36 MSEK from one of our European customers. None of these customers are connected to the above-mentioned coalition initiative, which demonstrates a broader recognition of the benefits of the Ovzon satellite communications platform across Europe.
While we strive for higher and more evenly distributed order intake, our engagement with customers has never been broader or deeper, involving more stakeholders, more governments, larger budgets, interoperability requirements and longer decision processes. This naturally extends procurement timelines, but also expands the long-term opportunity.
The Scalability of Our Business Model
Revenue during the quarter totaled 245 MSEK (166), an increase of 48 percent compared to the same quarter last year. EBITDA also increased compared to the same quarter last year, 87 MSEK (63).
Our financial position continues to strengthen. We have a solid cash position and during the past 12 months, we have reduced our net debt with almost half a billion SEK.
This reflects the scalability of our business model, where increased satellite capacity utilization and service-based revenues drive both growth and margin expansion.
Scaling for the Next Phase of Growth
Operational execution during the quarter has remained strong and consistent and we continue to strengthen the organization, especially in sales and commercial development, to drive profitable growth.
During the second quarter, we launched Ovzon T8, our new On-The-Move mobile satellite terminal. The market response has been encouraging. Customer interest continues to grow and initial orders including the first prototypes have already been received. Ovzon T8 opens new operational scenarios and expands our existing terminal portfolio.
Looking ahead, we continue to advance plans for additional satellite capacity, including the evaluation of future proprietary satellites. Preparatory work continues to intensify during 2026, guided by our ongoing in-depth analysis of agile design, production and launch alternatives. Our experiences from the development and launch of Ovzon 3 continues to prove invaluable in this process.
Well Positioned for Continued Profitable Growth
We enter the remaining part of 2026 with solid momentum, a clear strategic focus, and the financial strength to execute through longer procurement cycles while continuing to invest in scaling and our future.
Connectivity is no longer viewed as an enabler. It has become mission-critical infrastructure and the lessons learned from the war in Ukraine continue to reshape the defense industry. Digital defense, AI-enabled operations, autonomous systems and multi-domain operations all depend on resilient communications that continue to function in contested environments. This structural shift strengthens Ovzon's strategic position.
With a differentiated satellite communications platform and growing customer engagement, we are confident in our ability to continue to create long-term value for our customers, shareholders and society at large.
Per Norén, CEO Ovzon
Webcast
In conjunction with the interim report, a webcast will be conducted at 14:00 am CEST on July 17, 2026. Ovzon's CEO Per Norén and CFO André Löfgren will present the results and answer questions.
The webcast can be reached via the following link: https://www.youtube.com/live/cbaNZSLTt88?is=b5Bg7oXji8pT0vW9
For further information, please contact:
Per Norén, CEO, pno@ovzon.com, +46 73 070 56 47
André Löfgren, CFO, alo@ovzon.com, +46 70 251 70 90
About Ovzon
Ovzon offers world-leading integrated mobile satellite communications services, SATCOM-as-a-Service, to customers globally. The services combine high throughput satellite networks, mobile satellite terminals, gateway services, and dedicated customer support. Ovzon's offerings meet the growing demand for mission critical connectivity for customers with high performance, mobility and resiliency requirements such as Defense, National security and Public safety. On July 5, 2024, commercial service commenced on Ovzon's proprietary developed geostationary satellite Ovzon 3. Ovzon has offices in Stockholm, Sweden as well as Herndon, VA and Tampa, FL in the USA. Ovzon is listed on Nasdaq Stockholm Mid Cap. For more information, visit www.ovzon.com.
This information is information that Ovzon AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-07-17 08:00 CEST.
