INVISIO

INVISIO has released its Q3 2026 report this morning. Revenue is growing strongly and order intake is solid after the US market returned following a couple of quarters marked by the partial government shutdown and reorganization of the US Department of Defense. Earnings, however, disappoint, as EBIT lands clearly below analysts' expectations, even though revenue is in line with consensus.

Following INVISIO's Q2 2026 interim report, we have updated our investment case on the company. Our updated investment case covers the key investment reasons, risks, and valuation perspective relative to peers across Nordic/EU defense equipment, international defense communications, and audio/hearing protection.