The CEO comments on Q2 2026:
The second quarter marks an important milestone in Irisity's turnaround. With a lower cost base now in place, sales growth translated directly into positive EBITDA of MSEK 1.6, compared with MSEK -12.0 last year.
Net sales grew 52% to MSEK 27.3 (17.9), invoicing rose 36% to MSEK 28.7 (21.2) and collections increased 67% to MSEK 33.0 (19.8), reflecting strong conversion of previous-quarter invoicing and improved payment timing. Monthly recurring revenue reached MSEK 4.5 (3.7), up 22%, or 30% at constant currency, supporting a more predictable and scalable business model.
Operating expenses declined 24.9% to MSEK 25.3 (33.7). Adjusted for higher commissions tied to strong sales and collections, the reduction was 25.8%, and the run rate excluding commission fell 3% versus last quarter. We remain committed to our 30% target, with further reductions expected to impact the P&L in coming quarters. Adjusted EBITDA amounted to MSEK -1.7, a measure closer to operational cash flow.
Commercially, we secured a major U.S. airport contract for 1,000 channels of IRIS+ Enterprise valued at approximately MUSD 1. In Europe, a partner initiated the first phase of an AI video analytics deployment for a leading international precious metals company, using IRIS+ Enterprise for real-time and forensic security across its facilities. We also entered a new OEM collaboration that embeds our forensic-first analytics into an established security provider's platform, a clear expression of our partner-first strategy.
Going into the second half of 2026, our priorities remain around commercial growth, recurring revenue, partner-led expansion, cost discipline and securing collections. With the cost base aligned to the size of the business and a solid pipeline, we remain focused on delivering on our communicated strategy.
Key figures Q2 2026:
- Invoicing amounted to MSEK 28.7 (21.2)
- Collections amounted to MSEK 33.0 (19.8)
- Net sales MSEK 27.3 (17.9).
- Gross margin 86.3% (78.8%).
- EBITDA MSEK 1.6 (-12.0)
- Result after tax MSEK -32.5 (-37.9)
- Cash and available credit lines 5.6 (8.8)
- MRR for the quarter amounted to MSEK 4.5 (3.7)
The 2026 Q2 report is available at https://Irisity.com
Language of financial reporting:
Irisity publishes all quarterly reports in English only. Annual reports will be available in both English and Swedish.
For further information, please contact:
Gustav Zaar CFO and interim CEO, Irisity AB, gustav.zaar@Irisity.com
This information is information that Irisity AB (publ) is obliged to make public according to the EU's market abuse regulation. The information was submitted for publication, through the above contact persons, at 08:00 CET on 27 August 2026.
About Irisity
Irisity's AI Open Platform enhances any camera and video management system by integrating a choice of advanced AI and video metadata management featuring hybrid architecture, built-in anonymization, and flexible deployment (on-premises, cloud, or hybrid). Globally trusted in over 3000 locations, our platform delivers real-time, efficient, and precise data, augmenting human decisions to improve safety, operational efficiency and organizational intelligence.
The Irisity AB (publ) share is listed on Nasdaq First North Growth Market, with the ticker IRIS, the Company's Certified Adviser is DNB Carnegie Investment Bank AB.
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