Announcement no. 24/2026

Interim Report Q1 2026

Sveinn Sölvason, President and CEO, comments:

"Sales in the first quarter of 2026 reached USD 232 million, representing reported growth of 15% and organic growth of 4%. We delivered strong performance in Prosthetics & Neuro Orthotics, driven by continued momentum and solid volume growth across regions and categories.

Bracing & Supports delivered moderate growth, while Patient Care experienced a softer quarter, largely driven by timing effects in Europe. We are seeing more favorable trends in the U.S. Patient Care business and remain well on track with our strategic initiatives to support growth in the coming quarters across our global Patient Care business.

EBITDA margin was 17%, reflecting the impact of external factors such as FX and tariffs. We continue to execute with discipline and remain focused on delivering margin expansion as growth accelerates.

We reiterate our full-year guidance of 5-8% organic sales growth and an EBITDA margin of 20-22%."

Highlights Q1 2026

• Sales amounted to USD 232 million with 15% reported growth and organic growth was 4%, on par with Q1 2025.
• Prosthetics & Neuro Orthotics sales grew by 9% organic, Bracing & Supports (B&S) sales grew by 1% organic, while Patient Care was down 1%.
• Gross profit margin was 62%, compared to 63% in Q1 2025. The lower Gross profit margin was positively impacted by strong sales in P&NO but offset by items such as FX and US tariffs. 
• EBITDA was USD 40 million, and EBITDA margin was 17% of sales, compared to 18% in Q1 2025. The EBITDA margin is down between quarters mainly due to FX headwinds and tariffs.
• Net profit was USD 15 million and grew by 21% compared to Q1 2025 with a net profit margin of 6%. The increase was driven by growing operating results and favorable impact from net financial expenses.
• Free cash flow amounted to USD 4 million or 2% of sales, compared to 4% of sales in Q1 2025. Free cash flow benefitted from lower CAPEX but negatively impacted from changes in net working capital. The free cash flow is seasonally low in Q1.
• NIBD/EBITDA before special items was 2.4x at the end of Q1 2026, which is within our target range of 2-3x EBITDA. The share buyback program is ongoing and during Q1 2026, Embla Medical bought back 556,103 shares at a market value of approximately USD 2.6 million.

Other highlights

• On March 13, 2026, Embla Medical announced the completion the capital reduction of ISK 2,441,257 nominal value registered with the Icelandic Register of Enterprise. Following the share cancellation Embla Medical's share capital is ISK 428,000,000 nominal value.

2026 Outlook

• Organic sales growth guidance is unchanged at 5-8%.
• EBITDA margin before special items guidance is unchanged at 20-22%

*Potential impact from US trade tariffs continues to be an uncertain element to quantify given the frequent changes in the global tariff environment. Consequently, we deem it too speculative to quantify and guide an exact impact from potential tariffs on Embla Medical's financial results, but some absorption of tariffs is assumed in the guidance

Q1 2026 Report

The Interim Report for Q1 2026 is available on following link: Q1 2026 Report

Conference call details

Embla Medical will host a conference call on April 28, 2026, at 9:00 CET / 7:00 GMT / 3:00 ET.

To actively participate in the telephone conference, please use the dial-in details provided below:

DK: +45 78 76 84 90

UK: +44 20 3769 6819

US: +1 646 787 0157

Participant access code: 274982

The webcast will be available through following link: Embla Medical Q1 2026 webcast

Investor presentation

Our updated Q1 2026 investor road show presentation can be downloaded on following link:  Embla Medical Roadshow presentation Q1 2026

Further information

Klaus Sindahl, Head of Investor Relations, KSindahl@emblamedical.com, +45 5363 0134

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About Embla Medical

Embla Medical (Nasdaq Copenhagen: EMBLA) is a leading global provider of innovative mobility solutions that help people live a Life Without Limitations®. Embla Medical is home to several leading brands renowned for positively impacting people's health and well-being. They include Össur, a leading global provider of prosthetics and bracing solutions; Fior & Gentz, an innovative developer of neuro orthotics; College Park, a provider of lower limb prosthetics; and ForMotion, a global network of Orthotic and Prosthetic (O&P) patient care facilities. Embla Medical is committed to sustainable business practices, is a signatory to the UN Global Compact and UN Women's Empowerment Principles and contributes to the UN Sustainable Development Goals. The company's climate targets have been verified by the Science Based Targets initiative. Embla Medical operates globally and has around 4,500 employees. www.emblamedical.com