Announcement no. 51/2026
Interim Report Q3 2026
Sveinn Sölvason, President and CEO, comments:
"Sales in Q3 2026 were USD 250 million, representing 5% reported growth and 4% organic growth. Growth was driven by Prosthetics & Neuro Orthotics, with strong performance in EMEA, partially offset by softer results in Americas and APAC. Bracing & Supports delivered moderate growth, while Patient Care sales were flat in the quarter.
In Patient Care, sales performance has been below the expectations we set at the beginning of the year. Mainly as significant integration effort has slowed down our ability to drive growth in patient volumes in selected regions. We are encouraged by the progress we are making in a large part of our network of clinics, with significant work ongoing to enhance our performance across the whole Patient Care network.
EBITDA margin was strong in the quarter, or 22%, in line with Q3 2025, as disciplined cost control offset lower gross profit margin.
Based on our performance in the first nine months and our outlook for Q4 2026, we are narrowing our full-year guidance to approximately 5% organic sales growth (previously 5-7%) and an EBITDA margin of approximately 21% (previously 20-22%)."
Highlights Q3 2026
- Sales amounted to USD 250 million, growing by 4% organically and 5% reported and in local currencies incl. M&A.
- Organic sales growth by segment: Prosthetics & Neuro Orthotics +7%, Bracing & Supports +2%, Patient Care 0%.
- Gross profit margin was 62%, compared with 63% in Q3 2025. Stronger gross margin driven by Patient Care was partly offset by temporary costs related to the optimization of selected smaller manufacturing sites in our Prosthetics business. The initiative is expected to improve operational efficiency and support profitability over time. Gross margin in the first nine months of the year was broadly on par with the comparable period last year.
- EBITDA amounted to USD 56 million, corresponding to a margin of 22% of sales, on par with Q3 2025, as cost control in SG&A and stronger profitability in Patient Care offset a temporary lower gross profit margin related to the manufacturing optimization initiative.
- Net profit amounted to USD 26 million, corresponding to a net profit margin of 10%, compared with 11% in Q3 2025. The lower margin primarily reflected adverse net exchange rate differences between comparable quarters, partly offset by higher operating profit. Net profit for 9M 2026 increased 19% compared to 9M 2025.
- Free cash flow amounted to USD 31 million, or 12% of sales, compared with 16% of sales in Q3 2025. The year-on-year decline mainly reflected timing effects. For 9M 2026, free cash flow increased by 13%.
- NIBD/EBITDA before special items was 2.1x at the end of Q3 2026, which is within our target range of 2-3x EBITDA. In Q3 2026, Embla Medical repurchased 635,267 shares with a market value of USD 2.8 million.
Other highlights
- At the American Orthotic & Prosthetic Association (AOPA) National Assembly 2026, Össur showcased its latest innovations and engaged with clinicians and industry partners from across the O&P community, reinforcing its position as a trusted partner and innovation leader.
- Two new innovations launched during Q3 2026 across Prosthetics and Neuro Orthotics
2026 Outlook
- Organic sales growth guidance narrowed to ~5% (previously 5-7%).
- EBITDA margin before special items guidance narrowed to ~21% (previously 20-22%).
Q3 2026 Report
The Interim Report for Q3 2026 is available through following link: Q3 2026 Report
Conference call details
Embla Medical will host a conference call on October 20, 2026, at 9:00 CET / 7:00 GMT / 3:00 ET.
To actively participate in the telephone conference, please use the dial-in details provided below:
DK: +45 78 76 84 90
UK: +44 20 3769 6819
US: +1 646 787 0157
Participant access code: 274982
The webcast will be available through following link: Embla Medical Q3 2026 webcast
Our updated Q3 2026 investor road show presentation can be downloaded at the following link:
Embla Medical Roadshow presentation Q3 2026
Financial calendar and events 2026/2027
| October 20 2026 | Interim Report Q3 2026 |
| October 20 2026 | Q3 2026 Presentation & Q&A, virtual (HC Andersen Capital) |
| October 20 2026 | Q3 2026 Investor Road Show, Copenhagen (Danske Bank) |
| October 21 2026 | Q3 2026 Investor Road Show, Helsinki (ABG) |
| October 21 2026 | Q3 2026 Virtual Investor Road Show (Nordea) |
| October 26 2026 | Q3 2026 Investor Road Show, Reykjavik (Embla HQ) |
| November 10 2026 | Berenberg Nordic Seminar, Paris |
| November 18-19, 2026 | Jefferies Global Healthcare Conference, London |
| November 24. 2026 | Aktie-Info Investor event (retail), Kolding Denmark |
| November 26, 2026 | Danske Bank Winter Seminar, Copenhagen |
| January 11 2027 | SEB Nordic Seminar, Copenhagen |
| February 2 2027 | Q4 Report 2026 & 2026 Annual Report |
| March 2 2027 | UBS European Healthcare Conference, London |
| March 17 2027 | DNB Carnegie Healthcare Conference, Stockholm |
Further information
Klaus Sindahl, Head of Investor Relations, KSindahl@emblamedical.com, +45 5363 0134
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Forward-looking statements
This press release includes "forward-looking statements" which involve risks and uncertainties that could cause actual results to differ materially from results expressed or implied by these statements. Embla Medical undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
About Embla Medical
Embla Medical (Nasdaq Copenhagen: EMBLA) is a leading global provider of innovative mobility solutions that help people live a Life Without Limitations®. Embla Medical is home to several leading brands renowned for positively impacting people's health and well-being. They include Össur, a leading global provider of prosthetics and bracing solutions; Fior & Gentz, an innovative developer of neuro orthotics; College Park, a provider of lower limb prosthetics; and ForMotion, a global network of Orthotic and Prosthetic (O&P) patient care facilities. Embla Medical is committed to sustainable business practices, is a signatory to the UN Global Compact and UN Women's Empowerment Principles and contributes to the UN Sustainable Development Goals. The company's climate targets have been verified by the Science Based Targets initiative. Embla Medical operates globally and has around 4,500 employees. www.emblamedical.com
