Continued solid growth and significantly strengthened profitability
"Dynavox Group continued to deliver solid growth and significantly strengthened profitability in the third quarter, despite demanding reimbursement processes in the United States. Revenue growth was broad-based, with currency adjusted growth of 15%, while the EBIT margin reached 17.4%. Once again, we demonstrate the resilience of our business, supported by strong underlying demand and disciplined execution."
Fredrik Ruben, CEO Dynavox Group
QUARTER JULY - SEPTEMBER 2026
• Currency adjusted revenue growth was 15%. Reported revenue increased 13% to SEK 685 million (606).
• Gross margin was 69% (70).
• Currency adjusted EBIT growth was 94%. Reported operating profit increased by 87% to SEK 119 million (64), corresponding to an operating margin of 17.4% (10.6).
• Cash flow after continuous investments increased by 213% to SEK 62 million (20).
• Basic earnings per share increased by 134% to SEK 0.83 (0.36) before dilution and SEK 0.83 (0.35) after dilution.
PERIOD JANUARY - SEPTEMBER 2026
• Currency adjusted revenue growth was 15%. Reported revenue increased 9% to SEK 1,942 million (1,790).
• Gross margin was 69% (68).
• Currency adjusted EBIT growth was 98%. Reported operating profit increased by 87% to SEK 282 million (151), corresponding to an operating margin of 14.5% (8.4).
• Cash flow after continuous investments increased by 441% to SEK 184 million (-54).
• Basic earnings per share increased by 121% to SEK 1.89 (0.86) before dilution and SEK 1.87 (0.85) after dilution.
SIGNIFICANT EVENTS DURING THE QUARTER
• Jacob Thordenberg joined Dynavox Group as Chief Financial Officer (CFO) and a member of the Executive Management Team in September.
COMMENTS FROM THE CEO:
Dynavox Group continued to deliver solid growth and significantly strengthened profitability in the third quarter, despite demanding reimbursement processes in the United States. Revenue growth was broad-based, with currency adjusted growth of 15%, while the EBIT margin reached 17.4%. Once again, we demonstrate the resilience of our business, supported by strong underlying demand and disciplined execution.
The underlying market demand remains strong, and the long-term growth opportunity is unchanged. In the U.S., however, increased administrative complexity and longer lead times, primarily related to Medicaid and Medicaid managed care organizations, held back growth. Specific reimbursement challenges in two major states were resolved in our favor during the quarter, but state-by-state complexity is expected to remain a headwind. These challenges are not new, but the number of cases requiring additional review, and the effort needed to resolve them, has increased amid broader pressure on public spending.
In Europe and other markets, the performance was more mixed, with Germany and Australia as the strongest contributors to growth. Germany continues to be particularly promising as we mark the first year of operating as one integrated organization after the acquisition of RehaMedia. Across the entire market, we are strengthening local execution, building on the businesses we have acquired and creating a more scalable platform for continued growth.
We continue to challenge market practices that, in our view, risk creating confusion around product delivery, support, reimbursement and intellectual property. Our legal action against AbleNet, filed in May this year, is intended to protect patients, prescribing professionals and the integrity of established delivery standards for assistive communication solutions. We will continue to pursue this matter responsibly while remaining focused on serving our customers.
Gross margin remained strong despite higher component costs, supported in part by more efficient operations and improved logistics. Cost control also remained well balanced overall. We continue to invest in digitalization, systems and organizational capabilities, while significant one-off costs associated with building our operating platform are now largely behind us.
Our organization has grown significantly over the past few years, both organically and through acquisitions. Aligning how we work across this larger team is therefore as important an investment in our future as the implementation of our new ERP platform, new digital tools and modern distribution centers. This will be a key focus as we enter 2027. We now believe the foundational pieces are in place for the next chapter of our growth journey.
We are confident in the long-term fundamentals of serving and improving an underserved market, coupled with our ability to generate sustainable, profitable growth. Our priorities are to improve market access, strengthen commercial execution and capture further operating leverage as we scale. I expect that we will have periods of headwinds and challenges as well as continued significant growth and momentum along this journey. In December this year we celebrate the fifth anniversary of the public listing of Dynavox Group as a stand-alone company and can look back at five years of 25 % average annual revenue growth while building a stronger, more professional and financially solid company - and I am as confident as ever before that we have barely started
Fredrik Ruben, CEO
Webcast:
Today at 9:00 a.m. CEST, Dynavox Group will host a webcast presentation for media, analysts and investors. If you want to attend the webcast click the following link. The report and a recording of the webcast will be available here after the webcast.
This information is inside information that Dynavox Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 07.30 CEST on October 21, 2026.
For further information, please contact:
Jacob Thordenberg, CFO, Dynavox Group
E-mail: jacob.thordenberg@dynavoxgroup.com
Phone: + 46 (0)735 34 88 84
About Dynavox Group
Dynavox Group AB (publ) is the parent company of Tobii Dynavox, the global leader in assistive communication. Headquartered in Stockholm, and listed on Nasdaq Stockholm (DYVOX), Dynavox Group employs over 1,000 people and serves customers in more than 65 countries. Tobii Dynavox's custom designed solutions enable people with disabilities such as cerebral palsy, ALS, autism and spinal cord injury to communicate with a voice of their own, develop literacy skills and live more independently. To date, hundreds of thousands of people worldwide have benefited from our integrated solutions, which include hardware, software, clinically developed language systems, mounting solutions, training, and dedicated support. We offer extensive funding expertise to facilitate funding for as many people as possible. As voice and motor impairments are common among our users, our solutions are accessed via alternative methods, such as eye gaze or touch screen. Using AI-based speech synthesis, we offer users a personalized voice identity in over 30 languages, for children and adults. For more information, please visit the Dynavox Group website: www.dynavoxgroup.com
