Realfiction Holding AB announces its Q2 Interim Report for April - June 2026 and provides update on financing, DPT commercialization and Strategic Review
Realfiction Holding AB (“Realfiction” or the “Company”) announces that the Q2 Interim Report for April – June 2026 is now available. The full report is attached as a separate document and can also be downloaded from the Company’s website (www.realfiction.com/investor-financial-reports). A printed copy can be ordered via investor@realfiction.com. Below is a brief summary of the Q2 Interim Report, including an update on the Company’s financing, DPT commercialization and Strategic Review.
Going concern, financing and financial runway
As previously communicated, the Company's liquidity position has remained challenging. In order to fund operations until completion of the intended Rights Issue, on 20 August 2026, the Company raised a bridge loan of MSEK 2 from Tellus Equity AB, conditional on the Company proceeding simultaneously with a rights issue.
On the same date, the Company announced its intention to carry out a Rights Issue of units of up to approximately MSEK 36 before transaction-related costs. The Rights Issue is secured through a bottom underwriting commitment of MSEK 21.6, corresponding to approximately 60 percent of the intended issue.
Completion of the Rights Issue is conditional upon the Extraordinary General Meeting approving the proposed amendment to the Articles of Association required to enable the necessary increase in share capital.
In connection with completion of the Rights Issue, MSEK 4 of the Company's outstanding loan to Fenja Capital and the bridge loan from Tellus Equity AB will be repaid. The intended financing from the rights issue is designed to provide Realfiction with the financial platform required to complete the physical validation of the nematic approach, continue our commercial activities and Strategic Review and pursue the next stage of DPT commercialization. Subject to successful physical validation, we intend to develop a trade-fair-ready 7-inch DPT Evaluation Platform based on the nematic architecture.
Based on the minimum guaranteed gross proceeds of MSEK 21.6, the Company’s current cost base and cash flow forecasts, and assuming approval of the Incentive Programs, Management estimates that the financing will provide sufficient liquidity to support operations until approximately June 2027. This estimate excludes any potential proceeds from the exercise of TO3 warrants and any potential revenues or other funding from third-party participation in the development or evaluation of the DPT Evaluation Platform.
The Company’s ability to continue as a going concern is dependent on the successful completion of the Rights Issue. Until the Rights Issue has been completed, there remains a material uncertainty that may cast significant doubt upon the Company’s ability to continue as a going concern.
Q2 2026 important key figures:
• 24% decrease in net revenue in Q2 2026 compared to Q2 2025
• Operating result improved by TSEK 1,315 to TSEK -5,274 in Q2 2026 from TSEK -6,589 in Q2 2025.
• Solvency ratio of 60.5% at 30 June 2026 compared to 67.0% at 31 December 2025
• Operating cash flow improved by TSEK 888 to TSEK -3,320 in Q2 2026 from TSEK -4,208 in Q2 2025.
During and after the period, Realfiction experienced the following development in its business:
Directional Pixel TechnologyTM (“DPT”): Realfiction continues to advance the commercialization and industrialization of DPT. The Company has demonstrated the fundamental functionality of DPT through multiple working demonstrators, and the current focus is increasingly on establishing a sufficiently scalable and commercially viable path towards industrialization.
During the period, the Company continued its work on its patent-pending SLM approach based on nematic liquid crystal technology. The approach is designed to leverage existing LCD manufacturing infrastructure and potentially reduce industrialization complexity and time-to-market. The underlying design has been theoretically evaluated by external LCD specialists, and physical validation represents the most important near-term technical milestone. Subject to successful physical validation, the Company intends to develop a trade-fair-ready 7-inch DPT Evaluation Platform based on the nematic architecture. The Evaluation Platform is intended to provide improved resolution and a compact form factor based on technology designed for scalable manufacturing, making it suitable for demonstrations at trade fairs and for industry participants to purchase for internal evaluation of DPT and its potential applications. Further development of larger commercially representative DPT platforms is only expected to be undertaken with additional customer funding and in cooperation with industry partners, if and when such opportunities arise.
Commercial discussions continue with global technology and display companies regarding potential DPT applications, technical evaluations and development collaborations. As previously communicated, this includes a leading global consumer electronics company that has ordered two DPT demonstrators for internal evaluation.
Strategic Review: The Strategic Review announced in February 2026 continues with Grant Thornton Corporate Finance as financial advisor. The process is evaluating a range of strategic alternatives, including industrial partnerships, strategic collaborations and licensing structures. The Company continues to pursue these opportunities actively, while recognizing that such processes take time and that there can be no certainty regarding their outcome.
Cost reductions and Incentive Programs: As part of the efforts to preserve cash and extend the Company’s financial runway, the Board has proposed a significant reduction in future Board remuneration, while members of management have agreed to reduce their future salaries. These reductions are subject to shareholder approval of the proposed Incentive Programs, under which the participants would receive equity-based remuneration in the form of options in lieu of the reduced cash remuneration and salaries. Subject to shareholder approval, these measures are expected to generate cash savings of approximately MSEK 3.6 over the next 24 months. The Incentive Programs are also intended to align the long-term interests of the Board and management with those of shareholders.
CEO Clas Dyrholm comments: “We have made significant technological progress, but we have not yet succeeded in turning that progress into the commercial outcome that both we and our shareholders have been working towards. We should be clear about that. At the same time, we believe the fundamental DPT technology has demonstrated capabilities that remain highly relevant to where the global display industry is heading. Our immediate priorities are therefore to successfully complete the Rights Issue, physically validate the nematic approach and continue the industrial and strategic dialogues already underway. There are still significant technical, commercial and financial risks, but we remain fully committed to creating the best possible outcome for Realfiction and its shareholders.”
We highlight the following key figures from the Q2 Interim Report:
Q2 2026 (1 April – 30 June 2026)
• Revenue: TSEK 856 (Q2 2025: TSEK 1,132)
• Gross profit: TSEK 662 (Q2 2025: TSEK 740)
• Gross profit margin: 77.3% (Q2 2025: 65.4%)
• Operating result: TSEK -5,274 (Q2 2025: TSEK -6,589)
• Result after financial items: TSEK -6,377 (Q2 2025: TSEK -7,662)
• Earnings per share: SEK -0.27 (Q2 2025: -0.38)
• Cash flow from operating activities: TSEK -3,320 (Q2 2025: TSEK -4,208)
• Equity: TSEK 36,740 (30 June 2025: TSEK 33,822)
H1 2026 (1 January – 30 June 2026)
• Revenue: TSEK 1,667 (H1 2025: TSEK 2,006)
• Gross profit: TSEK 1,154 (H1 2025: TSEK 1,231)
• Gross profit margin: 69.2% (H1 2025: 61.4%)
• Operating result: TSEK -10,621 (H1 2025: TSEK -13,926)
• Result after financial items: TSEK -12,888 (H1 2025: TSEK -16,071)
• Earnings per share: SEK -0.54 (H1 2025: -0.81)
• Cash flow from operating activities: TSEK -7,534 (H1 2025: TSEK -11,101)
• Equity: TSEK 36,740 (30 June 2025: TSEK 33,822)
For more information about Realfiction Holding AB, please contact:
Clas Dyrholm, founder and CEO
Telephone: +45 25 22 32 81
Email: clas@realfiction.com
www.realfiction.com
Certified Adviser
Mangold Fondkommission AB is the company's Certified Adviser and can be contacted via ca@mangold.se or +46 8 503 015 50.
This information is information that Realfiction 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 2026-08-27 07:30 CEST.
About Realfiction Holding AB
Founded in Denmark in 2008, Realfiction is a provider of cutting-edge 3D display technologies designed for tomorrow’s needs, featuring technological breakthroughs with its Directional Pixel Technology for LCD, OLED and microLED. These technologies support a wide range of use cases, including enhancing driving safety, medical imaging, immersive gaming and entertainment, digital signage, as well as applications in architecture, engineering, and design. The Company offers a comprehensive intellectual property portfolio tailored for OEMs and Tier-1 partners involved in developing and marketing displays for markets and industries requiring high-resolution multistereoscopic displays. All technologies are ready for licensing, and Realfiction is actively pursuing commercial licensing agreements and partnerships to pave the way to mass production. Realfiction's IP portfolio comprises 15 patent families and registered trademarks, including patent applications filed in multiple countries. Realfiction Holding AB’s shares are publicly traded on Nasdaq Stockholm First North under the symbol “REALFI”, with the share’s ISIN code being SE0009920994.