AVTECH Sweden AB (publ) ("AVTECH") today publishes selected preliminary key financial figures for the third quarter of 2026. Net sales amounted to SEK 10.3 million (12.3), compared with the corresponding quarter of 2025. EBITDA amounted to SEK +4.3 million (+6.7), net earnings to SEK +3.1 million (+5.2), and cash flow for the period to SEK +8.6 million (+5.9).
FINANCIAL KEY FIGURES FOR THE QUARTER
| 2026 | 2026 | 2025 | |
| MSEK | Quarter 3 | Quarter 2 | Quarter 3 |
| Net sales | 10.3 | 12.6 | 12.3 |
| EBITDA, Operating earnings before depreciation | +4.3 | +5.0 | +6.7 |
| Net earnings | +3.1 | +4.0 | +5.2 |
| Net earnings per share, SEK | +0.056 | +0.071 | +0.092 |
| ARR* | 43.2 | 51.5 | 48.9 |
| Rule of 40** | 13.7% | 37.9% | 84.2% |
| Cash flow | +8.6 | -2.9 | +5.9 |
| Cash and cash equivalents | 42.8 | 34.2 | 33.2 |
| Equity | 63.8 | 60.7 | 54.5 |
| Equity per share, SEK | 1.13 | 1.07 | 0.96 |
| Equity ratio, % | 86.7% | 90.3% | 92.7% |
* ARR = Net sales from the last month of the quarter × 12
** Rule of 40 = Sales growth % Y/Y + Operating margin % for the quarter
- Net sales amounted to SEK 10.3 million, a decrease of 15.9 percent compared with the corresponding period in 2025.
- ARR (Annual Recurring Revenue) amounted to SEK 43.2 million at the end of the period, a decrease of 11.7 percent compared with the third quarter of 2025. The decrease is primarily attributable to lower utilization of AVTECH's services by a major customer.
- Net earnings amounted to SEK 3.1 million, a decrease of 39.8 percent compared with the corresponding period in 2025. The change is explained by lower revenue and planned investments in additional resources within sales, customer onboarding, and product development.
- Cash flow amounted to SEK 8.6 million. During the period, the Company received SEK 3.2 million in grants related to the EU projects in which AVTECH participates. In addition, the majority of previously overdue customer payments were settled during the quarter.
- At the end of the period, the Group's cash and cash equivalents amounted to SEK 42.8 million and shareholders' equity to SEK 63.8 million. This provides AVTECH with continued financial flexibility to execute its ongoing product development and market expansion initiatives.
- The equity ratio amounted to 86.7 percent. The change compared with the previous period is primarily attributable to advance payments received under EU-funded projects, which are initially recognized as a liabilities and subsequently recognized as income as the corresponding project costs are incurred.
"For nearly twenty years, we have described how improved information sharing and data-driven decision support can make aviation more efficient, predictable and sustainable. We are now seeing this development gather momentum. The long-term initiatives jointly pursued by our owners, Board of Directors and management are beginning to deliver results, both through a growing commercial pipeline and through AVTECH's active role in the development of a more efficient and connected air traffic system.
To capitalize on these opportunities, we have strengthened our organization across product development, operations, and sales during the year. These investments affect earnings in the short term, while lower revenue from LATAM also weighs on the quarter's revenue and earnings. However, the investments are necessary to enable us to gain further market share with our existing products and to develop and deploy ClearPath Speed, ClearPath Lateral and our new dispatch application.
The expansion of our sales organization is beginning to deliver clear results. The trial periods and qualified customer discussions described following the second quarter have continued to progress. We are now engaged in qualified discussions with approximately 40 airlines, while also increasing the number of new customer meetings. During the quarter, a major international airline evaluated our services, and we prepared for further operational evaluations of ClearPath Speed and ClearPath Lateral, among others. Overall, the pipeline is broader and more active than before, although the timing of individual customer decisions remains difficult to predict.
In addition, a major aircraft manufacturer has decided to use Aventus in flight tests involving a next-generation flight management computer. This represents important validation of the quality of our technology and its relevance to future aircraft platforms. An expanded analysis of Aventus, based on data from more than 40,000 flights, also indicates that the potential savings may be approximately three times greater than suggested by our previous calculations. The results strengthen the business case for the service and Aventus' position as a solution with the potential to create significant operational and financial value for airlines.
In parallel, we are taking further steps toward integrating our services into the air traffic management systems of the future. Through NOMAD, two other European SESAR projects and collaborations with European air traffic management organizations, our technology for aircraft-specific optimization, advanced weather data and real-time information sharing is being adapted for next-generation digital and modular platforms. This work strengthens both our products and our long-term position, while creating opportunities in a potentially larger future market.
Overall, during the year we have built the organization, product portfolio and commercial capabilities required for our next phase of growth. With a consistently strong financial position and a growing pipeline, AVTECH is very well positioned as we enter 2027," says David Rytter, CEO.
The full interim report for the third quarter will be published as scheduled on October 23, 2026.
Pressreleases are available at:
https://www.avtech.aero/press-release-english
For more information, please contact
David Rytter, CEO, +46 (0) 8 544 104 80
Christina Zetterlund CFO, +46 (0) 8 544 104 80
About AVTECH Sweden AB (publ)
AVTECH develops products and services for digital air traffic management systems. Its customers include airlines, airports, air navigation service providers, technology companies and aircraft manufacturers. The company's products and services enable individual flights and entire flight operations to be optimized in terms of cost, emissions, efficiency, capacity, punctuality and safety. AVTECH is headquartered in Stockholm and is listed on Nasdaq First North Growth Market. Redeye Nordic Growth AB is the company's Certified Adviser.
This information is information that AVTECH Sweden is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-10-13 00:44 CEST.
