Navamedic ASA: Growth and double-digit adjusted EBITDA margin in Q2 and first half 2026

The growth in the quarter was driven by the Prescription Drugs business area, which saw revenues rise to NOK 74.3 million from NOK 68.3 million in Q2 2025. The Addiction portfolio acquired in July 2025 added NOK 14.5 million in revenue, which was partly offset by the discontinuation of certain products. Mysimba sales increased by 1.6 per cent in the quarter, despite increasing competition.

Hospital revenues amounted to NOK 35.2 million, compared to NOK 35.7 million in the same quarter last year due to normal demand fluctuations. 

Consumer Health revenue decreased to NOK 30.8 million from NOK 33.3 million, reflecting a combination of factors, including increased competition for Modifast. In May, Navamedic successfully launched Virono single-dose cold sore tablet in Sweden and Finland.

In the first half of 2026, Navamedic delivered revenues of NOK 278.3 million, up 3.3 per cent compared to first half of last year. Gross margin was 38.9 per cent compared to 39.0 per cent in H1 2025. The adjusted EBITDA margin in H1 2026 was 10.2 per cent compared to 8.5 per cent in H1 2025. 

The EBITDA margin in Q2 2026 was 5.5 per cent compared to 7.4 per cent in Q2 2025 and was impacted by extraordinary costs related to change of CEO and inventory write-offs. The EBITDA margin in H1 2026 was 7.3 per cent compared to 8.5 per cent in H1 2025.

"We have delivered modest growth and double-digit adjusted EBITDA margin in the second quarter and first half of 2026. I am pleased to see that Mysimba sales in Q2 are on par with the same quarter last year despite strong competition, and the underlying strong improvements in adjusted EBITDA. After two months at the helm of the company, I am impressed by the competence and capabilities of the team, and the product offerings that we bring to the market," says Lars Minor, CEO of Navamedic.

For 2026, the company expects revenue to be maintained around the same level as 2025, with improved gross margins driven by a more favourable product mix. Combined with continued operational efficiencies, this is expected to result in an improved EBITDA compared to 2025.

Presentation and webcast

CEO Lars Minor and CFO Nils Ole Krekling will present the results today at 08:30 CEST. The presentation will be streamed live and available on demand via the following link: https://navamedic.com/investors/. The presentation will be available via webcast only.

For further information, please contact:

Lars Minor, CEO, mobile: +45 20 89 62 00
Nils Ole Krekling, CFO, mobile: +47 924 24 016

About Navamedic 
Navamedic ASA is a full-service provider of high-quality healthcare products to hospitals and pharmacies. Navamedic meets the specific medical needs of patients and consumers by leveraging its highly scalable market access platform, leading category competence and local knowledge. Navamedic is present in all the Nordic countries, the Baltics and Benelux, with sales representation in Greece. Navamedic is headquartered in Oslo, Norway, and listed on the Oslo Stock Exchange (ticker: NAVA). For more information, please visit www.navamedic.com.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.