MEMSCAP: Q2 2026 Results

STRONG QUARTERLY REVENUE GROWTH UP 19.9% TO €3,640 K

SIGNIFICANT IMPROVEMENT IN PROFITABILITY DRIVEN BY SUSTAINED GROWTH

QUARTERLY GROSS MARGIN OF 40.0%, SUPPORTED BY BUSINESS GROWTH IN A VOLATILE FOREIGN EXCHANGE ENVIRONMENT

QUARTERLY ADJUSTED EBITDA¹ UP SHARPLY TO €643 K (17.7% OF REVENUE)

STRONG GROWTH IN QUARTERLY NET PROFIT TO €442 K (12.1% OF REVENUE)

CONTINUED DEVELOPMENT OF STRATEGIC "ENGINE CONTROL" AND "FLUIDIC SYSTEMS" ACTIVITIES, KEY DRIVERS OF FUTURE GROWTH

INVESTOR VIDEOCONFERENCE TUESDAY, 1 SEPTEMBER AT 10:00 AM (CEST)

(Non-audited data)

• Quarterly revenue increased significantly to €3,640 thousand, representing 19.9% year-on-year growth

• Sustained momentum in the avionics business and strong growth in the medical segment

• Positive quarterly adjusted EBITDA¹ of €643 thousand (17.7% of revenue)

• Quarterly consolidated net profit of €442 thousand (12.1% of revenue)

• Investor videoconference: Tuesday, 1 September at 10:00 AM (CEST)
  Registration link: https://app.livestorm.co/euroland-corporate/memscap-webinaire-actionnaires-resultats-semestriels-2026?s=701e1f86-2cf5-4796-83bc-64bc4f0a81d8

Regulatory News:

MEMSCAP (Euronext Paris: MEMS), leading provider of high-accuracy, high-stability pressure sensor solutions for the aerospace and medical markets using MEMS technology (Micro Electro Mechanical Systems), today announced its earnings for the second quarter of 2026 ending June 30, 2026.

Analysis of consolidated revenue

The distribution of consolidated revenue from continuing operations (non-audited) by market segment for the second quarter of 2026 is as follows:

Market segments Revenue (In thousands of euros) Non-audited	Q1 2025 (3 months)	Q2 2025 (3 months)	Q2 2025	H1 2025 (6 months)	Q1 2026 (3 months)	Q2 2026 (3 months)	Q2 2026	H1 2026 (6 months)
Aerospace	2,440	2,288	75%	4,729	2,216	2,599	71%	4,815
Medical	268	390	13%	658	328	698	19%	1,026
Optical communications	377	340	11%	717	734	317	9%	1,051
Others (Royalties from licensed trademarks)	22	18	1%	40	21	26	1%	47
Total revenue from continuing operations	3,107	3,037	100%	6,144	3,299	3,640	100%	6,939

(Any apparent discrepancies in totals are due to rounding.)

Consolidated revenue from continuing operations amounted to €3,640 thousand in the second quarter of 2026, compared with €3,037 thousand in the second quarter of 2025, representing year-on-year growth of 19.9%.

The aerospace business remained the Group's largest contributor, generating €2,599 thousand in revenue and accounting for 71% of consolidated revenue. This performance confirms the structural strength of this market, supported by continued robust demand.

The medical business maintained its positive momentum, confirming the favourable trend observed in the first quarter of 2026. Segment revenue reached €698 thousand in the second quarter, up 78.8% compared with the second quarter of 2025. This strong performance reflects sustained demand across the Group's core medical markets, particularly for Invasive Blood Pressure (IBP) monitoring applications, which continue to benefit from favourable market conditions.

Revenue from the optical communications business totalled €317 thousand in the second quarter of 2026, compared with €340 thousand in the second quarter of 2025. This follows a particularly strong first quarter of 2026, during which revenue reached €734 thousand, driven by robust demand stemming from investments in data infrastructure, data centers and High-Performance Computing (HPC) applications. Market demand remained strong throughout the second quarter. However, shipments are currently being temporarily impacted by industrial transition and qualification activities associated with the implementation of a new manufacturing process. These initiatives, designed to support the ramp-up of production capacity and further enhance the Group's industrial capabilities, are expected to enable the Group to meet market demand once the qualification phase has been completed.

As a result, unaudited first-half 2026 revenue amounted to €6,939 thousand, representing year-on-year growth of 12.9% compared with the first half of 2025, confirming the continued growth momentum of the Group's businesses.

Analysis of consolidated income statement

MEMSCAP's consolidated earnings (non-audited) for the second quarter of 2026 are given within the following table:

In thousands of euros Non-audited	Q1 2025 (3 months)	Q2 2025 (3 months)	H1 2025 (6 months)	Q1 2026 (3 months)	Q2 2026 (3 months)	H1 2026 (6 months)
Revenue from continuing operations	3,107	3,037	6,144	3,299	3,640	6,939
Cost of revenue	(1,830)	(1,747)	(3,577)	(2,020)	(2,183)	(4,203)
Gross margin	1 277	1,290	2,567	1,279	1 457	2,736
% of revenue	41.1%	42.5%	41.8%	38.8%	40.0%	39.4%
Operating expenses	(1,026)	(1 007)	(2,033)	(1,105)	(1,120)	(2,225)
Operating profit (loss)	250	284	534	174	337	511
Financial profit (loss)	47	(212)	(165)	(60)	105	45
Income tax expense	(6)		(6)
Net profit (loss)	292	71	363	114	442	556

* Net of research development grants.
(Any apparent discrepancies in totals are due to rounding.)

Gross margin amounted to €1,457 thousand, representing 40.0% of revenue, compared with 38.8% in the first quarter of 2026 and 42.5% in the second quarter of 2025. The sequential improvement compared with the first quarter of 2026 primarily reflects a favourable volume effect, driven by higher revenue and improved absorption of fixed manufacturing costs, further strengthening the Group's operating profitability. Compared with the second quarter of 2025, however, the gross margin continued to be impacted by unfavourable foreign exchange effects, resulting from the appreciation of the Norwegian krone and the depreciation of the U.S. dollar relative to the corresponding period of the previous year.

Operating expenses, net of grants, amounted to €1,120 thousand, compared with €1,007 thousand in the second quarter of 2025. This increase primarily reflects higher research and development expenses, as well as the strengthening of certain support functions. As a result, operating profit from continuing operations reached €337 thousand, representing 9.3% of consolidated revenue, compared with €284 thousand, or 9.3% of consolidated revenue, in the second quarter of 2025.

Net financial income amounted to €105 thousand, compared with a net financial loss of €212 thousand in the second quarter of 2025, reflecting favourable foreign exchange movements during the quarter.

Consolidated net profit therefore amounted to €442 thousand, representing 12.1% of revenue, compared with €71 thousand in the second quarter of 2025 (2.3% of consolidated revenue).

Unaudited consolidated net profit for the first half of 2026 amounted to €556 thousand, representing 8.0% of revenue, compared with €363 thousand, or 5.9% of revenue, in the first half of 2025.

Unaudited adjusted EBITDA¹ amounted to €643 thousand, or 17.7% of consolidated revenue, in the second quarter of 2026, compared with €236 thousand, or 7.8% of consolidated revenue, in the second quarter of 2025. It is specified that research and development expenses were fully expensed and were not capitalized on the Group's balance sheet.

¹ Adjusted EBITDA means operating profit before depreciation, amortisation, and share-based payment charge (IFRS 2) and including foreign exchange gains/losses related to ordinary activities.

Perspectives

The unaudited results for the second quarter of 2026 confirm MEMSCAP's continued delivery of profitable growth. They notably highlight:

the continued strength of the aerospace segment, the cornerstone of the Group's business model, supported by the ongoing development of its avionics and engine control activities;
- the sustained positive momentum of the medical business, driven by robust demand in the Group's core Invasive Blood Pressure (IBP) monitoring markets;
- continued strong demand in the optical communications market, despite the temporary impact of industrial transition activities on shipment volumes.

In an environment that remains characterized by macroeconomic uncertainty and foreign exchange volatility, the Group continues to deliver solid revenue growth while pursuing its operational optimization efforts. Beyond its historical businesses, MEMSCAP continues to develop two new growth drivers, "Engine Control" and "Fluidic Systems", whose ramp-up is expected to broaden the Group's revenue base and strengthen its medium-term growth prospects.

Shareholders and investors videoconference Tuesday, 1 September at 10:00 AM (CEST)
Registration link: https://app.livestorm.co/euroland-corporate/memscap-webinaire-actionnaires-resultats-semestriels-2026?s=701e1f86-2cf5-4796-83bc-64bc4f0a81d8
You may submit your questions in advance at: https://memscap.com/en/visio/

First-Half 2026 Results (including Balance Sheet and Cash Flow Statement): August 31, 2026

About MEMSCAP

MEMSCAP is a leading provider of MEMS based pressure sensors, best-in-class in terms of precision and stability (very low drift) for two market segments: aerospace and medical.
MEMSCAP also provides variable optical attenuators (VOA) for the optical communications market.

For more information,
visit our website at:
www.memscap.com

MEMSCAP is listed on Euronext Paris (Euronext Paris Memscap ISIN code: FR0010298620 Ticker symbol: MEMS)

View source version on businesswire.com: https://www.businesswire.com/news/home/20260728235225/en/

Contacts:

Yann Cousinet
Chief Financial Officer
Ph.: [phone]
[e-mail]