During Apr–Jun 2026, the Group’s revenue mix continued to shift, with stronger technology access fees and service fees offsetting the decline in traditional royalty revenue. This resulted in a modest 2% decrease in total revenue compared with Apr–Jun 2025. For Jan–Jun 2026, total revenue remained broadly unchanged compared with Jan–Jun 2025.
At the same time, the Group maintained a stable and disciplined cost base. Personnel costs were lower than in the corresponding periods of 2025, which included redundancy costs arising from the Group’s restructuring program. Other operating expenses also declined as the operational efficiency and cost-optimisation measures implemented during 2025 continued to deliver results in 2026.
Consequently, EBITDA increased by 40% for Apr–Jun 2026 and by 69% for Jan–Jun 2026, while profit for the period increased by 186% and 677%, respectively.
| (Thousands SEK) | Apr-Jun 26 | Apr-Jun 25 | % movement | Jan-Jun 26 | Jan-Jun 25 | % movement |
| Revenue | 46,359 | 47,082 | ▼ 2% | 84,953 | 84,827 | ▲ 0% |
| EBITDA | 14,517 | 10,346 | ▲ 40% | 26,405 | 15,669 | ▲ 69% |
| Operating income | 6,970 | 3,512 | ▲ 98% | 12,207 | 2,725 | ▲ 348% |
| Profit for the period | 7,275 | 2,543 | ▲ 186% | 12,405 | 1,597 | ▲ 677% |
| Total assets | 114,308 | 89,818 | ▲ 27% | 114,308 | 89,818 | ▲ 27% |
| Net assets | 58,055 | 43,058 | ▲ 35% | 58,055 | 43,058 | ▲ 35% |
| Profit per share, SEK | 0.02 | 0.01 | ▲ 100% | 0.04 | 0.01 | ▲ 300% |
| Total number of shares | 297,020,539 | 297,020,539 | - | 297,020,539 | 297,020,539 | - |
| Average number of shares | 297,020,539 | 296,905,288 | ▲ 0% | 297,020,539 | 291,776,597 | ▲ 2% |
SIGNIFICANT EVENTS DURING THE SECOND QUARTER OF 2026
SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
A WORD FROM THE CEO
Dear Shareholders,
The second quarter of 2026 provides further evidence that the strategic transition we set in motion during 2025, and discussed in our Q1 report, is taking hold. We are building a more scalable and resilient EMB Mission Bound, centred on technology access, platform services and long-term technology partnerships, while maintaining the operational discipline needed to convert that progress into sustainable profitability and cash generation.
For the second quarter, revenue amounted to SEK 46.4 million, 2% below the corresponding period last year. For the first half, revenue was broadly unchanged at SEK 85.0 million. Beneath that headline, however, the composition of revenue changed materially. Technology access fees increased by 149% and service fees by 93% in the first half, fully offsetting a 77% decline in royalty revenue. Two new customers were granted access to selected components of our proprietary technology and system architecture during the quarter, while new engagements and expanded scopes with existing customers supported continued growth in service fees.
This shift is central to our strategy. Royalties remain a complementary part of our business, but our priority is to deepen recurring, platform-led relationships that provide greater visibility, stronger customer integration and more attractive long-term economics. The first-half results show that EMB is increasingly being selected not simply as a content supplier, but as a technology partner able to support customers across platform architecture, integrations, infrastructure and operational tooling.
Our financial performance also continued to strengthen. EBITDA increased by 40% to SEK 14.5 million in the quarter and by 69% to SEK 26.4 million for the first half. Operating income nearly doubled to SEK 7.0 million in Q2 and increased to SEK 12.2 million for the first half. Profit for the quarter rose by 186% to SEK 7.3 million, while first-half profit increased to SEK 12.4 million, compared with SEK 1.6 million in the corresponding period last year.
These results reflect the benefits of the restructuring and efficiency measures implemented during 2025. Other operating expenses declined by 22% in the quarter and by 24% in the first half. At the same time, we continued to invest selectively in the people and capabilities required to support our growth, with underlying personnel costs increasing as headcount expanded. This balance, disciplined cost management alongside targeted investment in our core technology, is essential as we scale.
Cash generation and the balance sheet improved meaningfully. Operating cash flow reached SEK 20.8 million in the quarter and SEK 28.4 million for the first half, increases of 109% and 65%, respectively. The closing cash balance rose to SEK 20.2 million, while net assets increased by 35% year on year to SEK 58.1 million. This stronger financial position gives us greater capacity to execute our platform strategy with discipline.
Looking ahead, our priorities remain consistent with those set out in Q1: accelerate the commercialisation of our proprietary technology platform, expand technology access agreements, onboard new platform clients, deepen relationships with existing partners, and continue investing in scalable infrastructure and AI-enabled capabilities. We will also remain focused on broadening our customer base and maintaining rigorous cost and capital discipline.
The work undertaken in 2025 established the foundation. Q1 showed that the foundation was beginning to perform; Q2 demonstrates that the transition is gaining momentum. We remain focused on execution and confident that EMB Mission Bound is increasingly well positioned to grow sustainably as a technology-led partner within the evolving iGaming ecosystem.
On behalf of the Board and leadership team, I would like to thank our employees, partners and shareholders for their continued support.
Stockholm, August 21 2026
Chi Ho Li
CEO
FUTURE REPORTING DATES
Q3 2026 - Nov 20, 2026
Q4 2026 - Mar 19, 2027
AGM - May 7, 2027
Q1 2027 - May 21, 2027
All financial reports are published on the company's website, www.embplc.com.