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 6.7 percent compared with the same period in 2025, driven by new customer contracts.
• ARR (Annual Recurring Revenue) amounted to SEK 51.5 million at the end of the period, an increase of 8.1 percent compared with Q2 2025. ARR includes the impact of LATAM’s temporary pause of ClearPath for a period of 1–2 months.
• Net profit decreased by 1.9 percent compared with the same period in 2025, primarily due to investments in additional resources within sales, onboarding, and product development.
• Operating activities generated a positive cash flow of SEK 2.7 million. However, total cash flow for the period was negative due to the dividend payment of approximately SEK 5.6 million in May. Cashflow was also negatively affected by delayed customer payments, which are expected to be settled during the next quarter.

“Sales during the quarter were relatively strong despite a continued uncertain global market environment. At the same time, we see that decision-making processes among airlines and other industry stakeholders are taking longer than usual, which affects the pace of new commercial decisions. However, the underlying demand remains clear. The need for solutions that enhance airlines’ efficiency, precision and fuel savings is significant. AVTECH’s services address concrete operational and financial challenges for our customers.

During the quarter we have renewed the agreement with Southwest Airlines. The agreement includes customer-driven product enhancements that strengthen the Aventus service and improve the value of the offering, both for Southwest and for other customers. This demonstrates how close collaboration with leading airlines contributes to commercial stability while also driving our product development forward.

After the end of the period, LATAM temporarily paused its use of ClearPath for a limited period of 1–2 months. At the same time, ClearPath has demonstrated clear operational value in the customer’s operation, as confirmed by LATAM. LATAM has informed us that it intends to restart ClearPath on its short-haul fleet after the pause, and we are working closely with the customer ahead of the continued use of the service.

We have continued to build our pipeline of new customers that are expected to deploy our services for proof-of-value periods during the remainder of the year, with the objective that these will subsequently lead to commercial agreements. In parallel, we are awaiting decisions from a number of customers following completed test periods in which our services have demonstrated their value in operational use. Overall, we therefore assess that our commercial opportunities going forward are good, although the timing of individual customer decisions is difficult to influence.

Several important changes are now taking place in Europe and globally in relation to the future of air traffic management. In order for each flight to be operated with greater efficiency and lower environmental impact, a more data-driven interaction between airlines and air traffic management is required. In this context, AVTECH’s ability to calculate and share optimized flight profiles and routes in real time becomes central. It is also against this background that AVTECH has been selected to participate in three European SESAR consortia, where we represent the airspace user and the airlines’ perspective.

The increasing competition within in-flight optimization confirms that the market we address is beginning to grow in earnest. For AVTECH, this brings both increased opportunities and higher demands. Through increased product investments, we can broaden our offering and ensure that AVTECH remains relevant, competitive and well positioned in the years ahead,” says David Rytter, CEO.

The full report for the second quarter will be published as planned in the interim report on August 21, 2026.