FINANCIAL KEY FIGURES FOR THE QUARTER

* ARR = Net sales from the last month of the quarter × 12
** Rule of 40 = Sales growth % Y/Y + Operating margin % for the quarter

• Net sales increased by 12 percent compared with the same period in 2025, driven by new customer contracts. Revenue declined slightly compared with the previous quarter due to Latams re‑evaluation of Aventus.
• ARR (Annual Recurring Revenue) amounted to MSEK 49.4 at the end of the period, an increase of 4.6 percent compared with Q1 2025.
• Net profit increased by 2.7 percent compared with the same period in 2025. Earnings were impacted by increased investments in sales and technology during the quarter, as well as costs associated with the relocation to new office premises.
• Cashflow during the first quarter increased by 23 percent compared with the same period in 2025. Delayed customer payments from previous quarters have now largely been received, and the remaining overdue accounts receivable are expected to be settled after the end of the period.

“We enter 2026 on a strong foundation built during the record year of 2025 – with a larger base of connected aircraft, a high share of recurring revenue, and a portfolio that continues to broaden.

Uncertainty in the external environment increased during the quarter and is affecting airlines’ decision-making processes. At the same time, rising fuel prices are driving increased interest in solutions that improve fuel efficiency and operational precision, making our customer value increasingly clear – particularly in discussions around rollouts and upselling.

Net sales for the first quarter amounted to MSEK 11.7 (MSEK 10.5), corresponding to an increase of 12% compared with the same period in 2025. Net profit amounted to MSEK +3.8 (MSEK +3.7). Our revenue model is based on recurring revenue, and ARR amounted to MSEK 49.4 at the end of the period. Cashflow from operating activities was MSEK +3.2.

Quarterly revenue was impacted by negative currency effects and by Latam pausing the Aventus service for an in‑depth re‑evaluation, which resulted in slightly lower revenue during the period compared with our underlying run rate and the previous quarter. This pause should be seen as part of a customer‑driven evaluation process in which we work together with the customer to ensure the right conditions for continued operational value. This does not affect the more extensive delivery of ClearPath to Latam. At the same time, Wizz Air increased the number of aircraft using Aventus, which had a positive impact on revenue. Wizz Air is a clear validation of the operational value of the Aventus solution and of our ability to scale within existing customer contracts.

Our services create significant value in airline operations, but full system impact requires broader collaboration within the air traffic system. During the quarter, we continued our cooperation with a European air traffic control center, where ClearPath data is shared in real time. Early test indications point to more flights operating at optimal altitudes and reduced radio communication. In 2026, we plan to deepen this work through an expanded operational case study that strengthens customer value and may open new business opportunities.

We move forward into 2026 with the ambition to increase revenue while continuing to reinvest in faster deployments, product development, and commercial strength. With a larger installed base, a growing portfolio, and a continued strong pipeline, we are well positioned for the next stage. Our goal is to make 2026 another record year and to continue contributing to a more efficient, sustainable, and predictable flight operation.” said David Rytter, CEO.

The full report for the first quarter will be published as planned in the interim report on April 24, 2026.