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Revenio Group Corporation: Half-Year Report January 1 – June 30, 2026

REG1VRegulatoriskt pressmeddelande2026-09-08 08:00
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Revenio Group Corporation | Stock Exchange Release | September 08, 2026 at 09:00:00 EEST

Q2/2026: Business developed steadily – building the new Revenio is progressing according to plan

This release is a summary of Revenio’s Interim Report January-March 2026. The complete report is attached to this release as a PDF file and is also available on the company website at www.reveniogroup.fi/en/

The figures in parentheses refer to the corresponding period in the previous year unless otherwise stated.

Revenio acquired the entire share capital of the Visionix International Group (“Visionix”) from its parent company, LT International SAS. The debt-free, cash-free value of the transaction (enterprise value) was EUR 290 million. The consideration paid to the sellers was EUR 250 million, of which EUR 55.7 million was paid in the form of 2,485,797 new shares in Revenio.
Visionix has been consolidated into Revenio as of June 2026.

April-June 2026

  • Net sales totaled EUR 39.3 (26.5) million, up by 48.1%. Visionix has been included in the Group figures since the beginning of June.
  • The currency-adjusted increase of net sales in April-June was 50.7%
  • Operating profit was EUR 2.4 (6.1) million, or 6.1% of net sales, down by 60.9%. Operating profit was affected by non-recurring expenses arising from the acquisition, totalling approximately EUR 3.4 million.
  • The adjusted operating profit was EUR 5.8 (6.6) million, or 14.6% of net sales, down by 12.3%
  • EBITDA was EUR 4.3 (7.2) million, or 10.9% of net sales, down by 40.9%
  • Cash flow from operating activities totaled EUR -2.4 (6.7) million
  • Earnings per share came to EUR 0.020 (0.116)
  • Visionix integration has progressed in a planned manner following the completion of the transaction. The integration work has focused on ensuring business continuity and securing customer relationships, as well as building a common organisation, operating models and culture.
  • Revenio will host a Capital Markets Day on 15 September 2026, during which Revenio’s updated strategy will be presented

January-June 2026

  • Net sales totaled EUR 66.6 (52.6) million, up by 26.6%
  • The currency-adjusted growth of net sales was 28.8%
  • Operating profit was EUR 4.8 (12.7) million, or 7.2% of net sales, down by 62.4%. Operating profit was affected by non-recurring expenses arising from the acquisition, totalling approximately EUR 6.9 million.
  • The adjusted operating profit was EUR 11.7 (13.2) million, or 17.5% of net sales, down by 11.6%
  • EBITDA was EUR 7.8 (15.0) million, or 11.7% of net sales, down by 48.1%
  • Cash flow from operating activities totaled EUR -5.8 (11.4) million
  • Earnings per share came to EUR 0.112 (0.273)
  • The Annual General Meeting was held on May 12, 2026. The AGM decided no dividend for the financial year 2025 will be paid.

Key figures

MEUR4-6/20264-6/2025Change-%1-6/20261-6/2025Change-%
Net sales39.326.548.166.652.626.6
Gross margin25.419.331.844.138.215.4
Gross margin - %64.772.6-11.066.272.6-8.8
EBITDA4.37.2-40.97.815.0-48.1
EBITDA - %10.927.3-60.111.728.4-59.0
EBITA3.36.5-49.36.113.6-54.9
EBITA-%8.424.6-65.79.225.8-64.4
Adjusted EBITA6.77.0-4.513.014.0-7.5
Adjusted EBITA-%17.026.4-35.519.526.7-26.9
Operating profit, EBIT2.46.1-60.94.812.7-62.4
Operating profit-%, EBIT6.123.0-73.67.224.2-70.3
Adjusted operating profit, EBIT5.86.6-12.311.713.2-11.6
Adjusted operating profit-%, EBIT14.624.7-40.817.525.1-30.2
Return on investment-%, ROI1.24.3-72.12.59.5-73.7
Return on equity-%, ROE0.52.9-82.82.36.9-66.7
Earnings per share0.0200.116
0.1120.273




30.6.202630.6.2025Change,
%-point
Equity ratio-%


31.277.2-46.0
Gearing-%


159.2-1.3160.5
Net debt/Adjusted EBITDA *


5.3-0.04

* Adjusted EBITDA in column 30.6.2026 is based on 2025 pro forma numbers and in column 30.6.2025 for historical rolling 12-month values.

Financial guidance for 2026
Revenio’s new financial guidance:

Revenio Group’s exchange rate-adjusted net sales are estimated to be between EUR 190 million and EUR 205 million and EBITA, excluding non-recurring items is estimated to remain at a satisfactory level.

The lower end of the range assumes continued softness in market demand and slower customer activity. The upper end assumes an improvement in market conditions combined with successful execution of commercial initiatives.

Revenio’s previous financial guidance:
Due to the transaction announced on April 13, 2026, Revenio withdrew its previous financial guidance for the year 2026.

President and CEO Jouni Toijala
The second quarter of the year marked the beginning of a new phase for Revenio and the start of building the combined company. The completion of the Visionix acquisition at the end of May brought together two highly complementary companies and gave us an even stronger position in the global eye care market. As a result of the transaction, our product portfolio expanded significantly, our customer base became more diversified, and our global presence strengthened. At the same time, our total addressable market increased approximately 2.5- fold to more than EUR 2.5 billion, opening up new growth opportunities for us well into the future.

During the first months together, we have progressed as planned with the integration. We have focused in particular on ensuring business continuity and securing customer relationships, as well as on building a shared organization, operating models and culture. Our strengthened Board of Directors, Leadership Team and operational organization have already begun their work, and the early feedback received from employees has demonstrated strong commitment to building the new Revenio. Although the integration work is still ongoing, we have progressed well and partly ahead of the original schedule. The progress made so far reinforces our view of the strategic potential of the acquisition and the long-term value creation opportunities it offers.

As a combined company, we are able to serve optical retail, optometry and ophthalmology with a broader portfolio of diagnostics, imaging and workflow solutions across the eye care pathway. The feedback we have received from our customers on our stronger offering has been very positive. Revenio’s and Visionix’s highly complementary technologies, expertise and commercial capabilities, together with the limited overlap between the businesses, provide us with an excellent foundation for leveraging the growth opportunities created by the combination and for building long-term value. The experiences from the first months together have strengthened our view that together we can create more value than as separate companies. Leveraging our strengths and realizing the targeted synergies expected to uplift EBITDA by more than EUR 20 million will provide a strong foundation for the next phase of growth for the new Revenio. Approximately one quarter of these synergies has already been secured to date.

I am very pleased that we have maintained a strong focus on our customers and day-to-day business while advancing the most significant transaction in Revenio’s history. Despite the significant changes brought about by a major acquisition, quarterly fluctuations and geopolitical uncertainties, our business remained stable. Our revenue for the second quarter was 39.3 (26.5) million euros, an increase of 48.1%. Visionix has been included in Revenio’s consolidated figures since the beginning of June. During the quarter, net sales development in the old Revenio business was flat. Geopolitical and economic uncertainties had an impact on our market environment, especially in the Middle East and Asia.

After the review period, iCare entered into a strategic partnership with the U.S.-based EyeCheq and made a minority investment in the company to promote the accessibility of vision screening and the adoption of automated and AI-based screening solutions in the United States. In addition, the iCare DRSplus fundus camera is included in iHealthScreen’s FDA-approved AI-based solution in the United States, enabling automated screening for diabetic retinopathy particularly in primary healthcare.

Profitability in the second quarter was at the level we expected. The combined profitability level was affected, as expected, by Visionix’s lower profitability profile, and adjusted operating profit was 14.6% of net sales. Unadjusted profitability was affected by acquisition-related non-recurring expenses totaling approximately 3.4 million euros. As a result of the acquisition, our leverage has increased as expected, and the EUR 80 million rights issue to be carried out in the autumn will strengthen our financial position.

Our focus is now firmly on the next phases. We will continue the integration with determination and focus in particular on realizing the identified synergies as quickly as possible, developing the shared product portfolio and R&D roadmap, and harmonizing operating practices and processes. At our Capital Markets Day later in September, we will present our new strategy and provide more detail on our long-term targets and on how we intend to leverage the growth opportunities offered by our expanded product portfolio, global presence and commercial capabilities.

Our operating environment continues to involve geopolitical and economic uncertainty, and we are closely monitoring their impacts on our markets and customers. At the same time, we look ahead with confidence. We have a strong foundation, complementary expertise and technologies, and a shared determination to strengthen Revenio’s position as a global leader in eye care. I want to thank all our employees for their excellent work and strong commitment during this significant phase of change, as well as our customers, partners and shareholders for their continued trust. We are only at the beginning of building the new Revenio, but the first months together have reinforced my confidence in what we can achieve together.

Financial reporting in 2026
The interim report Q3/2026 will be published on Thursday, November 12, 2026.

Audiocast and teleconference
Revenio will hold a live audiocast and teleconference call for analysts, investors, and media in English at 3.00 p.m. (EEST) on September 8, 2026. CEO Jouni Toijala and CFO Jukka Kainulainen will present the Half-year report.

The audiocast can be watched live at: revenio.events.inderes.com/q2-2026

To ask questions, please join the teleconference by registering using the following link: events.inderes.com/revenio/q2-2026/dial-in

Phone numbers and the conference ID to access the conference will be provided after registration. To ask a question, please press #5 on your telephone keypad to enter the queue.

A recording of the audiocast will be published on www.reveniogroup.fi/en after the event.

For further information, please contact
CEO Jouni Toijala: +358 50 484 0085
jouni.toijala@revenio.fi

CFO Jukka Kainulainen, tel. +358 40 533 6887
jukka.kainulainen@revenio.fi

Distribution
Nasdaq Helsinki Oy
Financial Supervisory Authority (FIN-FSA)
Principal media
www.reveniogroup.fi/en

Revenio Group in brief
Revenio is a leading turnkey solutions provider in the global eye care market. The group offers fast, user-friendly, and reliable tools for diagnosing a wide variety of eye diseases. Revenio’s solutions include e.g. tonometers, fundus imaging devices, optical coherence tomography (OCT), perimeters, multimodal devices, refraction systems, and software solutions under iCare and Visionix.

In May 2026, Revenio joined forces with Visionix, creating the most innovative, creative and comprehensive entity serving eye care professionals across optometry, optical retail and ophthalmology. In 2025, the Group’s net sales totaled EUR 109.7 million, with an operating profit of EUR 25.4 million. Revenio Group Corporation is listed on Nasdaq Helsinki with the trading code REG1V.

Attachments


Revenio Group Corporation Half Year Report Q2 2026