Impala Nordic comments on Seamless Distribution Systems AB (publ) (“Seamless” or the “Company”) report for the second quarter of 2026.

Seamless delivered another strong quarter, with net sales of SEK 42.0 million and EBITDA of SEK 20.6 million, corresponding to an EBITDA margin of 49.1%. Profit before tax amounted to SEK 9.9 million, taking the first-half result to SEK 20.1 million and marking the strongest half-year since the Company’s listing. Recurring revenue increased to SEK 28.0 million and now exceeds the operating cost base, providing a solid foundation for continued profitability. Order intake was more subdued than in Q1, although management attributes this primarily to longer decision processes in the existing pipeline. The Company maintains its full-year guidance of SEK 45–55 million in profit before tax, placing increased importance on order conversion during the second half. Focus ahead is therefore on continued revenue growth, pipeline execution and maintaining the current cost discipline.

As part of the Q2 coverage, Impala Nordic also interviewed CEO Martin Schedin. The interview is available on page 4 of the report.

Click here to read the comment and the interview

For additional information, please contact:

Ylber Rexhepi, VD Impala Nordic
ylber@impalanordic.se
+46 (0) 76-034 55 03

About Impala Nordic

Impala Nordic provides equity research, coverage, and comprehensive investor relations (IR) services. The portfolio includes listed small-cap companies, where Impala Nordic acts as a communicative bridge between the companies and investors.

The material produced by Impala Nordic is independent but sponsored. This means that Impala Nordic has received payment from the client to produce the analysis and coverage. The client has not been able to influence Impala Nordic’s opinions expressed in the material.

Bifogade filer

SDS Q2 Rapportkommentar