Gothenburg                                                                                       2026-04-22

INTERIM REPORT Q1 2026
 

Group financial overview

Q1 2026 represents a turning point for Aixia Group. The company reports a positive profit after financial items of SEK 77 thousand, compared to a negative full-year result of SEK -4,132 thousand in 2025. The efficiency program is delivering results, although its full impact has not yet been realized.

Net sales amounted to SEK 44,650 thousand for the period January-March 2026. Compared to Q1 2025 (SEK 85,939 thousand), the decrease is significant, but is largely explained by a single digital transaction of SEK 44 million included in Q1 2025.

Adjusted for this non-recurring item, the underlying comparison base for Q1 2025 amounts to approximately SEK 41.9 million, indicating that the underlying business has in fact shown positive development.

EBITDA amounted to SEK 2,957 thousand (Q1 2025: SEK 4,671 thousand), and operating profit totaled SEK 490 thousand, compared to a negative full-year result in 2025. The equity ratio amounted to 25.0%, representing an improvement compared to both Q1 2025 (23.3%) and full-year 2025 (20.3%).

The geopolitical situation, economic downturn, and exceptionally high component prices with extended lead times continue to impact market conditions. The company expects these factors to remain noticeable in the coming quarter, but believes that Aixia's positioning - through AiQu as an orchestration tool for existing AI infrastructure - provides a structural advantage in the current market climate.

A Message From the CEO
 

The first quarter of 2026 marks an important turning point for Aixia Group. In a period characterized by geopolitical uncertainty, a prolonged economic downturn, and sharply increasing component prices with exceptionally long lead times, we have reversed a negative earnings trend and delivered a positive result. This is something I am proud of.

The external environment has rarely been more chal-lenging. Ongoing geopolitical tensions are creating uncertainty in global value chains, component prices have reached historically high levels, and lead times for critical hardware are in many cases as long as 12-18 months. This affects the entire AI/IT industry and naturally impacts us as well.

Despite this ¬ and this is important to emphasize - Aixia Group reports a positive profit after financial items of SEK 77 thousand for Q1 2026. At first glance, this may appear modest, but in context it is highly significant. We have built a more cost-efficient organization, improved internal processes, and strengthened our gross margin in the underlying operations.

Compared to Q1 2025, net sales appear lower - SEK 44.7 million versus SEK 85.9 million. However, it is essential to note that the previous year included a single digital transaction of SEK 44 million, making the comparison misleading. Adjusted for this one-off transaction, the underlying business has actually grown.

During 2025, we completed the acquisitions of WhiteRed SW2 AB and Webland AB. These acqui-sitions were strategically motivated to broaden our base of recurring revenue and establish a platform for future AI expansion into an established and well-man-aged customer base. I am pleased to note that the effects materialized faster than expected - not least from the acquisition of Webland AB.

Webland has contributed stable, contract-based revenue and a well-structured operations organiza-tion that has been quickly integrated into the Group. This strengthens our ARR base, improves capacity utilization, and reduces quarterly revenue volatility. It also provides access to a customer base with significant potential for further AI development - customers who, in most cases, have not yet begun their AI transformation. This represents a structural upside that we are now actively working to realize.

It should also be noted that the acquisitions impact the cash flow analysis for Q1 2026. Changes in working capital - such as new supplier liabilities, customer receivable structures, and integrated payment flows - are clearly reflected in the period's cash flow and are a natural consequence of full consolidation. Underlying operational cash flow is assessed as stable.

In 2025, we launched a comprehensive efficiency and restructuring program with an estimated full-year effect of just over SEK 6 million, along with approximately SEK 1 million in additional savings from internal AI-driven automation. We are already seeing measurable effects in Q1 2026, although the full impact is expected to be realized around June 2026 when all organizational adjustments, cost structure changes, and process improvements are fully implemented.

This is not only about reducing costs. It is about building a more efficient organization with the right competencies in the right places - an organization adapted to the market we are actually operating in, not the one we had 18 months ago. We have made difficult but necessary decisions without compro-mising our technical leadership, core expertise, or long-term direction.

Aixia has a deeply embedded culture of adaptability, which I believe is one of our strongest assets. This is not something we have developed recently - it has been part of our DNA since our founding in 2007. We have always challenged the status quo, sought better solutions, and adapted faster than the market expects.

This culture is what enables us to navigate one of the most challenging periods we have experienced - and it is the same culture that has led us not only to adapt, but to develop entirely new concepts and offerings to help our customers navigate the current environment.

At a time when component prices are rising sharply and lead times are unreasonably long, we have developed new models for how customers can utilize existing technology in more efficient ways. This means maximizing the value of existing investments, postponing new investment decisions until the market stabilizes, while still maintaining a strong AI ambition. These concepts are resonating strongly in the market and demonstrate that we are not waiting for better conditions - we are creating relevance within them.

We are currently in the midst of a paradigm shift within AI. Agentic AI - AI capable of independently planning, making decisions, and executing tasks - gained broad traction shortly after the turn of the year 2025/2026. While the technological shift occurred rapidly, we were prepared. Aixia Group has already initiated several projects in this area, and what we are seeing is remarkable: we are identifying tangible and measurable business value for customers even before projects are fully completed. Shorter produc-tion lead times, more efficient processes, and clear cost savings are already evident.

In this context, AiQu plays an increasingly important role - and today it is the part of our AI business that is truly gaining momentum. Within our broader AI offering for industry, AiQu is driving growth, attracting new customers, and creating recurring business relationships. It is also at the core of the agentic AI projects we are now delivering.

AiQu creates business value on three levels. First, it enables existing IT investments to deliver value - customers with existing infrastructure can begin using it for AI purposes without additional hardware investments, which is critical given current lead times of 12-18 months and rising prices. Second, it significantly accelerates time-to-value - AI initiatives that would otherwise take months can be realized

in weeks. Third, it reduces risk by providing full cost transparency and control, making it easier for management and boards to make decisions and scale initiatives.

 
Mattias Bergkvist CEO,
Aixia Group AB (publ)
 

Significant events during the period

Build Nordics AI

-     Launch at NVIDIA GTC in Silicon Valley

One of the most significant events during the quarter is something not reflected in the figures, but which clearly illustrates our strategic position. In March 2026, in connection with the NVIDIA GTC conference in Silicon Valley, Aixia, together with evroc and Opper AI, launched the Build Nordics AI initiative

-  a concrete and well-defined platform designed to help Swedish and Nordic companies build, deploy and scale AI in production, with sovereignty as a fundamental principle.

Build Nordics AI brings together three complementary layers of the Nordic AI stack under one umbrella: Aixia contributes AI solutions and infrastructure expertise, evroc contributes Europe's first pur-pose-built hyperscale cloud platform, and Opper AI contributes AI tools and the enterprise control layer. Together, we cover the entire chain from strategy and implementation to secure, sovereign operations - on European soil, under European legislation, without jurisdictional ambiguity.

The initiative was launched through a launch event in Palo Alto and an executive dinner in Cupertino, aimed at leaders in defense, the public sector and critical infrastructure. Interest has been very strong. This confirms that the market we have long pointed to - Nordic sovereign AI with documented business value - is now truly mature. The questions of who controls the data, where it is stored, and under which jurisdiction the AI infrastructure operates are no longer theoretical. They are business-critical priorities at executive level.

Build Nordics AI is a concrete expression of the fact that Aixia is not content with being a local player adapting to global trends - we are helping shape the Nordic AI agenda internationally. Launching this at NVIDIA GTC, one of the world's most influential AI conferences, is in itself a statement of where we stand.

It would be wrong of me not to comment on the broader disruption brought about by the wave of agentic AI - not only for our customers, but for ourselves as well. The era of agentic AI challenges established ways of working, organizational struc-tures, and what we have traditionally understood as leadership. Processes that have long required teams of specialists can increasingly be orchestrated by AI agents working around the clock, learning continu-ously and making increasingly qualified decisions.

We see this as an opportunity, not a threat. Our adaptable culture makes us well equipped to adjust faster than our competitors - and our technical position, with AiQu as a platform, makes us a credible partner for customers now taking their first steps

into the agentic era. We are actively investing in understanding how these shifts affect our customers' businesses, and we are adapting our offerings and internal organization as the picture becomes clearer.

Aixia's future is defined by opportunity. With AiQu as the engine of our AI business, a strengthened cost structure, an expanded customer base from the acquisitions, and an organization with a genuine willingness to change, I look ahead to the coming quarters with confidence.

//

Mattias Bergkvist
CEO, Aixia Group AB (publ)

This information is information that Aixia Group AB (publ) is required to make public pursuant to the EU Market Abuse Regulation.
The information was provided by the above contact, for publication 2026-04-22.

FOR MORE I N FORMATION / 

Get in touch with the company at: 

CEO Mattias Bergkvist
Phone: 031-762 02 40
[email protected]
www.aixia.se

Aixia Group AB (publ)
Hälsingegatan 10
431 63 Göteborg