The Group April – June 2026 (KSEK)
- Net sales 1 239 (1 679) -26%
- Operating result -13 978 (-10 060)
- Result for the period -13 234 (-11 172)
- Earnings per share before and after dilution -0.74* (-0.85)
The Group January – June 2026 (KSEK)
- Net sales 2 387 (2 954) -19%
- Operating result -25 279 (-22 133)
- Result for the period -22 474 (-27 311)
- Earnings per share before and after dilution -1.28* (-1.84)
* Earnings per share after tax, calculated on the result for the period and the average number of shares for the period January - June 2026, 18 782 486 shares.
Summary of the second quarter
- Net sales for Q2 2026 amounted to 1.2 MSEK, compared to 1.7 MSEK in Q2 2025.
- Net sales for the quarter were down by 26% affected by non-recurring revenue of approximately 0.6 MSEK received in Q2 2025 for a customer specific product development. On a like-for-like basis, underlying recurring sales increased by 15% compared to the same period last year.
- Result for the quarter was –13.2 MSEK, compared to –11.2 MSEK in Q2 2025.
- Costs and results for the period were negatively impacted by legal costs covering the legal disputes and the Nasdaq disciplinary matter of approx. 1.5 MSEK, as well as the fine from Nasdaq Stockholm’s Disciplinary Committee of approx. 1.3 MSEK and positively impacted by currency fluctuations of approx. 0.8 MSEK.
- On May 8th, Johanna Forseke assumed the role as CEO of Greater Than.
Summary after the period
- Greater Than and ABAX AS entered into a settlement agreement on July 30, resolving all outstanding disputes between the two companies. Under the terms of the settlement, ABAX paid Greater Than a total amount of SEK 64 million, which will increase Greater Than’s operating result of approximately SEK 40 million during the third quarter of 2026.
CEO Statement
Moving forward with undivided focus on commercial execution
Having been part of Greater Than’s journey for more than seven years, most recently as Chief Business Officer and Deputy CEO, I was thrilled to assume the position of CEO in May, 2026. Leveraging my experience of working closely alongside our customers and partners, my priority for the company will remain directed on commercial execution.
In my new role, conversations with shareholders have been very valuable, and driving revenue has clearly been the focus. While results are not there yet, I am confident that progress made during this quarter is building the foundation for future revenue generation as the company is now shifting focus from product development to commercial execution.
Revenue model – a combination of direct sales and partnership agreements
Greater Than operates through two main channels: Direct Enterprise and Global Partnerships. The first channel involves selling our AI model on a software-as-a-service (SaaS) basis directly to companies such as insurance firms and mobility providers who benefit from our technology on a “plug-and-play” basis. Through the Direct Enterprise channel, we control the process end-to-end, and the sales cycles are shorter.
The second channel is Global Partnerships. In this channel we supply our AI model, while our partners manage commercial distribution through their own networks. Given the scale of these organizations, both sales cycles and time to revenue generation are longer because activations involve local network onboarding, structured piloting and ramp-up plans. It is important to note that the pace of the sales process and the exact terms are controlled by our external partners. Once active, these partnerships unlock broader distribution that direct sales alone could not match.
Progress during the quarter
During the quarter, we made progress in both channels. In Direct Enterprise, we worked closely with our existing customers to help them scale, while also onboarding two new clients.
In Global Partnerships, adoption of the Fédération Internationale de l’Automobile’s (FIA’s) Driver Safety Index (DSI) continued to expand. The number of FIA Member Clubs implementing the model across their operations, or promoting the solution locally, doubled from the start of 2026, amounting to a total of 18 Clubs just after the end of the quarter. The FIA is making progress in its external sales cycle and has initiated contracting with sales conversion.
In our partnership with Honda, following the contract signing in Q1, the focus in Q2 has been on activating pilots and reviewing feedback to make the product commercially ready for Honda to commence sales.
Q2 results impacted by one-off items
Net sales for Q2 2026 amounted to SEK 1.2 million compared to SEK 1.7 million in Q2 2025. The decrease of 26% was affected by non-recurring revenue of approximately 0.6 MSEK received in the previous year for a customer specific product development. On a like-for-like basis, underlying recurring sales increased by 15% versus Q2 2025.
The net result for this quarter was negatively impacted by the fine issued by Nasdaq in April, associated costs, as well as litigation costs connected to the protection of Greater Than’s intellectual property (IP), a combined total of SEK 2.8 million.
I am pleased that these matters are now behind us. On July 30th, we reached a final settlement agreement with ABAX AS, resolving all outstanding disputes and confirming that our IP is preserved. Under the terms of the settlement, ABAX AS paid Greater Than a total amount of SEK 64 million, generating a positive impact
on our operating result of approximately SEK 40 million, impacting Q3 2026.
The market backdrop
Our AI is built not just for where mobility is today, but for where it’s heading. For a long time, road safety has been approached reactively, responding to crashes after they happen, rather than seeing them coming. This is the shift we exist to drive: using AI to predict risk before it becomes a crash. Because the cost of staying
reactive – financially, socially, and environmentally – is too high.
Greater Than’s AI is globally unique, and I’m proud that its scientific methodology and predictive capabilities were independently validated by an AI expert during the quarter. This development strengthens our position in the market and is an important milestone. I’m excited about what else we, and the wider industry, can do with these insights to make mobility safer and more sustainable.
Looking ahead
To capitalize on our progress in the coming quarters, a new leadership structure is now in place to speed up decision-making and support day-to-day commercial
operations. We’re also reviewing our product suite and client portfolio to ensure that we are directing our resources to Global Partnerships and core clients within Direct Enterprise.
In conclusion, I am pleased that we have now reached a position where we’re able to concentrate on revenue generation. I’m proud to be leading Greater Than as we move into this next chapter with undivided focus on our commercial execution.
Johanna Forseke
Chief Executive Officer
Press contact Greater Than
PR@greaterthan.eu
+46 855 593 200
www.greaterthan.eu
About Greater Than
Greater Than is a global leader in AI-driven risk intelligence for road safety and sustainability. Its unique technology is trained using real-life driving data to predict crash probability and climate impact.
By using AI pattern profiling to measure the driver influence on risk, Greater Than delivers predictive scores that are globally comparable. Fleets, mobility providers, insurers and other organizations involved in road transportation use these insights for risk management, cost control, pricing, and ESG compliance.
Greater Than (GREAT: ST) is listed on Nasdaq First North Growth Market. FNCA Sweden AB is the Certified Adviser. Learn more at www.greaterthan.eu.
This information is information that Greater Than is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-08-20 07:44 CEST.