AVTECH Interim Report Quarter 3 2026 EN
AVTECH Sweden AB (publ) Interim Report January - September 2026
FINANCIAL HIGHLIGHTS FOR THE PERIOD
| 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 for the final month of the quarter multiplied by 12
** Rule of 40 (EBIT-based) = Year-over-year sales growth, % + 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 use 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.
- 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 revenue as the corresponding project costs are incurred.
EVENTS DURING THE PERIOD
LATAM adjusts its use of Aventus and ClearPath
In July, AVTECH announced that LATAM Airlines Group had temporarily paused ClearPath for its short-haul fleet while evaluating several optimization solutions. In August, LATAM announced that Aventus would not be restarted and that ClearPath would not be reinstated for the short-haul fleet. ClearPath continues to be used in LATAM’s long-haul operations, where the service has delivered cost savings confirmed by the airline. The decision reduced AVTECH’s annual recurring revenue, or ARR, by approximately SEK 8.5 million, from the previously reported SEK 51.5 million to approximately SEK 43 million. AVTECH continues to support delivery to LATAM’s long-haul fleet and is working with the customer to increase the service’s operational value.
Board members and major shareholders acquire Class A shares
On July 17, AVTECH announced that several members of the Board of Directors and major shareholders had acquired a total of 300,000 Class A shares in the company. The transaction was completed off-market at a price of SEK 4.28 per share.
Aventus selected for the development of next-generation aircraft systems
On September 24, AVTECH announced that a major aircraft manufacturer had entered into an 18-month agreement to use Aventus Full-Flight Winds in flight-test campaigns for next-generation aircraft systems. Aventus delivers high-resolution wind and temperature data to the aircraft’s Flight Management System, or FMS, during climb, cruise, and descent. The aircraft manufacturer will use the service to develop, verify, and validate future FMS functions that depend on up-to-date and reliable atmospheric data. The agreement became effective in August 2026 and has a value of less than SEK 0.3 million. Its financial value is limited, but its use in a demanding flight-test environment represents an important technical validation of Aventus data quality, precision, and repeatability.