FlexQube reported record financial performance for the third quarter of 2026, supported by increased deliveries of its robotic material handling solutions and tugger train systems. Net sales for the period from July 1 to September 30 rose 1,080.9% to SEK 205.8 million, compared with SEK 17.4 million in the corresponding quarter of the previous year. Adjusted for exchange rate fluctuations, sales increased 1,137.2%.
Order intake grew 82.5% to SEK 73.2 million from SEK 40.1 million, representing a 90.7% increase after adjusting for currency movements. EBITDA reached SEK 54.7 million, compared with a loss of SEK 8.3 million a year earlier, while operating profit (EBIT) stood at SEK 52.6 million against a loss of SEK 10.6 million. Profit before tax was SEK 48.7 million, compared with a loss of SEK 11.1 million. Earnings per share amounted to SEK 2.8, against a loss of SEK 0.8.
Cash flow totalled SEK 7.2 million, including positive operating cash flow of SEK 9.1 million. Cash and cash equivalents stood at SEK 47.1 million at the end of the quarter, compared with SEK 12.9 million a year earlier. The company’s robotic platform was the principal contributor to quarterly sales growth. Robot sales amounted to SEK 127 million, accounting for more than 60% of total revenue. Mechanical carts and tugger train systems contributed SEK 62.2 million, with most tugger train systems integrated with the robotic platform. Service sales reached SEK 7.9 million.
FlexQube received additional follow-on orders worth approximately SEK 33 million from a major US-based e-commerce and logistics customer during the quarter. The orders included Navigator autonomous mobile robots (AMRs) and tugger train systems, with deliveries primarily scheduled for 2026. The company also secured an order worth approximately SEK 3.7 million for mechanical material handling carts from a new customer in the US commercial vehicle industry.
The company strengthened its intellectual property portfolio with the grant of its fifth US patent for the Navigator AMR, covering an interface solution between the robot and motorised load carriers. For the nine months ended September 30, 2026, order intake increased 311.8% to SEK 367.4 million, while net sales rose 357.7% to SEK 316.4 million. Adjusted for exchange rate movements, the respective increases were 331.7% and 379.7%. EBITDA reached SEK 47.7 million against a loss of SEK 20.8 million, and EBIT stood at SEK 42.1 million compared with a loss of SEK 27.4 million. Profit before tax was SEK 36 million, while earnings per share amounted to SEK 2.1.
In his comments on the results, the CEO described the quarter as a milestone following several years of product development, pilot projects and investment in the company’s automation platform. A substantial share of major projects ordered during the first half of the year translated into deliveries during the quarter. FlexQube is also expanding its installation, commissioning and customer-support capabilities.
At its major US e-commerce and logistics customer, the company is progressing with multiple applications of the Navigator platform. A follow-on order worth approximately SEK 11 million was received in September for a project involving automated collection, transportation and delivery of existing customer carts using Navigator AMRs and customised load carriers. An expanded pilot phase was scheduled for delivery by the end of October. Testing is also underway on another project, with further orders dependent on customer evaluations and commercial decisions.
FlexQube received two aftermarket follow-on orders worth approximately SEK 22 million in July for spare parts and service at two customer sites. The company is working to develop recurring revenue through service, support and software as its installed base grows. A successful pilot project in Poland is also creating opportunities for further applications and potential expansion to additional customer sites.
The company reported that rapid growth has increased working capital requirements, particularly through inventories and accounts receivable. It is focusing on delivery planning, customer payments and financing solutions to manage these requirements. The CEO also highlighted the need to broaden the customer base, given the concentration of major project deliveries among a key e-commerce customer.
FlexQube has a project pipeline covering further phases with existing customers and new opportunities in the United States, Mexico and Europe. The company is also strengthening its US organisation to support local business development for its robotic platform.
Following the quarter, Tobias Byfeldt and Daniel Pettersson were proposed as new Board members ahead of an Extraordinary General Meeting. Per Augustsson was proposed to step down from the Board to focus on operational activities, particularly the development and sales of AMR solutions.
FlexQube is a technology company headquartered in Gothenburg, Sweden, with subsidiaries in the United States, Mexico, Germany and England. It develops customised mechanical and robotic material handling solutions based on a patented modular concept, including self-driving robotic carts. The company serves more than 1,300 customers in 40 countries, primarily across North America and Europe. Its customers operate in manufacturing, distribution and warehousing, including automotive, electric vehicle manufacturing, online retail, heavy-duty trucks, industrial automation and retail logistics.
