FIRST QUARTER 2026

Net sales amounted to SEK 372.6 million (366.3), an increase of SEK 6.3 million, an increase excluding currency effects of 15% (2% including currency effects).

Net sales in the Pediatrics segment amounted to SEK 272.2 million (269.9), an increase excluding currency effects of 13% (1% including currency effects).

Net sales in the Adult Health segment amounted to SEK 98.3 million (94.6), an increase excluding currency effects of 18% (4% including currency effects).

Operating expenses amounted to SEK 165.6 million (171.2), a decrease of SEK 5.6 million (3%). There were no Items affecting comparability in the quarter.

Operating profit increased by 4% to SEK 101.2 million (97.1), which corresponds to an operating margin of 27% (27%).

Profit after tax amounted to SEK 79.4 million (80.2), a decrease of 1%.

Earnings per share amounted to SEK 0.78 (0.79) before and after dilution.

Cash flow amounted to SEK 67.4 million (33.2).

Cash and cash equivalents amounted to SEK 871.8 million (1,249.3).
 

Key events in the first quarter of 2026

On February 3 BioGaia announced that results for the fourth quarter would exceed market expectations.

On February 26 BioGaia announced that it had signed a renewed distribution agreement with Ewopharma to further accelerate growth across the European region.

On March 17 BioGaia announced that it exercises the option to acquire the remaining 20 percent of the shares in Nutraceutics, the parent company to BioGaia's exclusive distributor of BioGaia's own products in the USA.

On March 20 BioGaia announced the publication of a 10-year follow-up study of BioGaia's strain, L. reuteri Protectis in the peer-reviewed journal Nutrients. The study shows that early supplementation with this strain during the first three months of life is associated with a markedly lower prevalence of functional abdominal pain (FAP) at age ten.
 

Key events after the end of the first quarter of 2026

On April 28 BioGaia announced that researchers at BioGaia have published new scientific findings in the journal Food and Bioprocess Technology, demonstrating that BioGaia's patented LongevityGuard® technology significantly improves the stability and shelf life of probiotics.

 

CEO'S COMMENTS

BioGaia enters 2026 with net sales reaching SEK 373 million (366) for Q1, representing an increase of 15% excluding currency effects compared to Q1 2025 (+2% including currency effects), with an operating margin of 27% (27%). EMEA achieved double-digit growth in the quarter, with strong performance noted in France, South Africa, Spain, and Germany, our latest established subsidiary. The continued expansion of direct distribution has brought the sales mix to an even balance of 50/50 for the quarter between partner distribution and direct operations.

Both our pediatric segment (an increase of 13% excluding currency effects) and adult segment (an increase of 18% excluding currency effects) delivered solidly higher sales than in the same quarter previous year. The increase was primarily driven by our products BioGaia Protectis Drops, BioGaia Prodentis and BioGaia Gastrus Pure Action.

Development in our market areas 
EMEA is regaining momentum in key markets following a period of transition from partner distribution-led to direct market operations. Sales increased by 24% excluding currency effects (16% including currency effects) compared to the same quarter previous year. France, established as a direct market in 2025, and Germany, in early 2026, contributed to the strong performance. In France, broader distribution and stronger engagement with healthcare professionals were key contributors to the positive development. Many additional markets alongside our direct markets in EMEA had strong results primarily in Romania, Czech Republic, Spain, and South Africa.

Sales in APAC increased by 6% excluding currency effects (declined by 7% including currency effects). Australia, Japan, and Vietnam delivered strong results, whereas sales in China declined mainly due to order variability. In Australia, the BioGaia Gastrus product line was a key contributor to the positive sales development along with BioGaia Protectis drops. In Japan, sales increased through own e-commerce channels and improved collaboration with leading local wholesalers.

AMERICAS delivered a strong performance during the quarter, with a sales increase of 12% excluding currency effects (declined by 5% including currency effects).

Both Canada and USA demonstrated robust growth in sales of our adult products BioGaia Prodentis and BioGaia Gastrus Pure Action and USA had strong double-digit growth of BioGaia Protectis drops. In Latin America, we had a relatively flat development in terms of organic growth. Mexico had double digit growth, while Chile and Peru declined in sales due to order phasing.

Direct market expansion in Germany and Austria
As part of our long-term strategy to strengthen our presence in key markets, we established direct distribution in Germany and Austria during the quarter. These markets offer strong growth potential, driven by high consumer awareness and increasing demand for probiotics. Following the establishment, Germany is already showing promising performance.

Strengthening our scientific foundation
We had a significant scientific achievement in the quarter with a 10-year follow-up study of our core strain L. reuteri Protectis® being published. This study showed that early-life supplementation of our BioGaia Protectis drops is associated with a markedly lower prevalence of functional abdominal pain (FAP) in childhood.             

Another recent study confirms the effectiveness of our LongevityGuard®, a proprietary and patented moisture-control technology specially designed to protect our probiotic's viability inside the product. The data show that controlling moisture significantly improves stability, ultimately extending shelf life of our products. Without this protection, viability declines rapidly and the bacteria die. For a probiotic to be effective, the bacteria must be alive in the product. LongevityGuard® is exclusive to BioGaia, underscoring our leadership position in science-driven probiotic innovation.

Forward looking
We remain focused on driving sustainable growth by leveraging our strong scientific foundation, expanding our presence in key markets, and increasing brand visibility. With a clear strategic direction, we are well positioned to capture future opportunities to drive sales and profitability and further increase shareholder value.
 

Theresa Agnew
President and CEO, BioGaia
May 7, 2026
 

You find the complete report with tables in the attached PDF or on https://www.biogaiagroup.com/investors/reports-and-presentations/financial-reports.

Teleconference:
Investors, analysts, and the media are invited to take part in a teleconference on the interim management statement to be held today, 7 May 2026, at 09:30 a.m. CEST with CEO Theresa Agnew and CFO Alexander Kotsinas. More information about the teleconference is available here: https://www.biogaiagroup.com/investors/reports-and-presentations/financial-calendar.
 

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Contacts:
Alexander Kotsinas, CFO
Email: alexander.kotsinas@biogaia.com
Phone: +46 735 00 11 11

Mikaela Idermark Stern, Corporate Communications
Email: mikaela.idermark.stern@biogaia.com
Phone: +46 730 95 61 50

About BioGaia
BioGaia is a Swedish world-leading probiotic company that has been at the forefront of microbiome research for over 35 years. BioGaia develops, markets, and sells probiotic products with documented health benefits. The products are sold through distribution partners or through its own subsidiaries in more than 100 markets. The parent company, BioGaia AB, is listed on Nasdaq Stockholm, in the Mid Cap segment. biogaiagroup.com

This disclosure contains information that BioGaia is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person set out above, at 08:00 a.m. CEST on May 7, 2026.