MEMSCAP: H1 2026 RESULTS

H1 NET PROFIT UP 53%
TO €556K (8% OF REVENUE)

SHARP INCREASE IN NET PROFITABILITY
TO 8% OF REVENUE

H1 ADJUSTED EBITDA1 UP 29% TO €950K (14% OF REVENUE)

H1 REVENUE UP 13% TO EUR 6,939 THOUSAND

SOLID FINANCIAL POSITION – PAYMENT OF THE GROUP’S FIRST-EVER DIVIDEND

CONTINUED DEVELOPMENT OF STRATEGIC "ENGINE CONTROL" AND "FLUIDIC SYSTEMS" ACTIVITIES

SOLID OUTLOOK SUPPORTED BY A SUSTAINABLE AND PROFITABLE INDUSTRIAL BUSINESS MODEL

INVESTOR WEBINAR
TUESDAY, SEPTEMBER 1, 2026 – 10:00 AM (CEST) 

• Strong increase in net profitability to 8% of revenue, driven by a 53% increase in net profit to €556 thousand and strong growth in adjusted EBITDA1 (+29% to €950 thousand)

• Sustained revenue growth in a volatile foreign exchange environment

• Growth driven by strong momentum across all of the Group’s activities: aerospace, medical and optical communications

• Robust industrial profitability despite the appreciation of the Norwegian krone

• Payment of the Group’s first-ever dividend (€501 thousand), with shareholders’ equity increasing despite this distribution

• Solid financial position with €5,679 thousand of available liquidity as of June 30, 2026

• Development of the "Engine Control" and "Fluidic Systems" activities progressing according to schedule, supporting medium-term growth

• Investor webinar: Tuesday, September 1, 2026 at 10:00 AM (CEST)
  Registration link: https://app.livestorm.co/euroland-corporate/memscap-webinaire-actionnaires-resultats-semestriels-2026?s=701e1f86-2cf5-4796-83bc-64bc4f0a81d8

GRENOBLE, France--(BUSINESS WIRE)-- Regulatory News:

MEMSCAP (Euronext Paris: MEMS), leading provider of high-accuracy, high-stability pressure sensor solutions for the aerospace and medical markets using MEMS technology (Micro Electro Mechanical Systems), today announced its revenue and results for the first half of 2026 ended June 30, 2026.

Analysis of consolidated revenue

Consistent with its previous quarterly releases, MEMSCAP reported consolidated revenue from continuing operations of €6,939 thousand for the first half of 2026, compared with €6,144 thousand in the first half of 2025, an increase of 13%.

Over the first half of 2026, the distribution of consolidated revenue from continuing operations by market segment is as follows:

(Any apparent discrepancies in totals are due to rounding.)

The aerospace sector, the Group's largest market, generated revenue of €4,815 thousand in the first half of 2026, compared with €4,729 thousand in the first half of 2025, representing an increase of 2% despite an unfavourable foreign exchange environment. This performance reflects MEMSCAP's strong commercial positions in this particularly dynamic strategic market. The aerospace sector accounted for 69% of the Group's consolidated revenue for the first half of 2026 (first half of 2025: 77%).

The medical business continued the positive momentum observed since the beginning of the year. Revenue reached €1,026 thousand in the first half of 2026, compared with €658 thousand in the first half of 2025, representing an increase of 56%. This growth reflects the return to a high level of activity in the Group's core Invasive Blood Pressure (IBP) monitoring markets. The medical segment represented 15% of the Group's consolidated revenue in the first half of 2026 (first half of 2025: 11%).

The optical communications business, which designs and markets Variable Optical Attenuators (VOAs) under a fabless business model, generated revenue of €1,051 thousand in the first half of 2026, compared with €717 thousand in the first half of 2025, representing an increase of 47%. This growth was driven by sustained demand from data infrastructure, data center and High-Performance Computing (HPC) markets. However, second-quarter deliveries were impacted by industrial transition and qualification activities associated with the implementation of a new manufacturing process. This segment accounted for 15% of the Group's consolidated revenue in the first half of 2026 (first half of 2025: 12%).

Royalties from the dermocosmetics business amounted to €47 thousand in the first half of 2026, compared with €40 thousand in the first half of 2025, representing approximately 1% of the Group's consolidated revenue.

Analysis of consolidated income statement

MEMSCAP’s consolidated earnings for the first half of 2026 are given within the following table:

(Financial data were subject to a limited review by the Group’s statutory auditors. The publication of the interim condensed consolidated financial statements for the six-month period ended June 30, 2026 was authorized by the Board of Directors on August 31, 2026. Any apparent discrepancies in totals are due to rounding.)
* Net of research & development grants.

For the first half of 2026, the gross margin rate was 39.4% of consolidated revenue, compared with 41.8% in the first half of 2025. Despite higher sales volumes during the period, the gross margin rate was adversely impacted by significant unfavourable foreign exchange effects resulting from the appreciation of the Norwegian krone and the depreciation of the U.S. dollar compared with the corresponding period of the previous year. Gross margin therefore amounted to €2,736 thousand in the first half of 2026, compared with €2,567 thousand in the first half of 2025.

Operating expenses, net of research and development grants, amounted to €2,225 thousand in the first half of 2026, compared with €2,033 thousand in the first half of 2025. This increase mainly reflects higher research and development expenses, together with the strengthening of certain support functions.

The Group's average workforce, expressed in full-time equivalents (FTEs), amounted to 51.9 employees in the first half of 2026, compared with 56.3 in the first half of 2025.

As a result, operating income from continuing operations amounted to €511 thousand (7% of consolidated revenue) in the first half of 2026, compared with operating income of €534 thousand (9% of consolidated revenue) in the first half of 2025.

Financial income amounted to €45 thousand in the first half of 2026, compared with a financial loss of €165 thousand in the first half of 2025. This improvement mainly reflects changes in transaction foreign exchange gains during the period.

The income tax expense recognized in the first half of 2025 resulted from changes in deferred tax assets and had no impact on the Group's cash flow. In the first half of 2026, changes in deferred tax assets remained immaterial.

On a consolidated basis, the Group reported net income of €556 thousand in the first half of 2026, representing 8% of consolidated revenue, compared with net income of €363 thousand (6% of consolidated revenue) in the first half of 2025.

Evolution of the Group’s cash / Consolidated shareholders’ equity

Adjusted EBITDA1 from continuing operations amounted to €950 thousand in the first half of 2026 (14% of consolidated revenue), compared with €738 thousand (12% of consolidated revenue) in the first half of 2025.

As of June 30, 2026, the Group's available liquidity amounted to €5,679 thousand (December 31, 2025: €6,037 thousand), including cash and cash equivalents as well as financial investments recognized under non-current financial assets.

As of June 30, 2026, MEMSCAP Group's shareholders' equity increased to €19,401 thousand (December 31, 2025: €19,039 thousand). This change includes the payment of a €501 thousand dividend during the first half of 2026.

The payment, during the first half of 2026, of the first dividend in the Group’s history reflects MEMSCAP’s commitment to sharing value creation with its shareholders on a sustainable basis, made possible by the strength of its business model, the visibility the Group enjoys across its key markets and the maintenance of a solid financial position. This dividend policy is being pursued in a prudent and disciplined manner, with priority given to maintaining a level of liquidity consistent with the Group’s operating and growth requirements, the funding of its investments and the continued development of its projects.

1 Adjusted EBITDA corresponds to operating profit including net foreign exchange gains/losses related to the Group’s ordinary operations, adjusted for depreciation, amortisation and current operating provisions, and for the expense arising from the application of IFRS 2 “Share-based Payment”.

Perspectives

The first-half 2026 results confirm MEMSCAP's profitable growth momentum. They notably reinforce:

- the strength of the aerospace business, the cornerstone of the Group's business model, supported by the continued development of its avionics and engine control activities;
- the continued positive momentum of the medical business, driven by sustained demand in the Group's core Invasive Blood Pressure (IBP) monitoring markets;
- continued strong demand in the optical communications market, despite the impact of industrial transition activities on second-quarter delivery volumes.

In an environment that remains marked by macroeconomic uncertainty and persistent currency volatility, the Group continues to deliver sustained growth across its activities while improving its net profitability. In particular, the continued development of the “Engine Control” and “Fluidic Systems” activities supports MEMSCAP’s growth ambitions for the years ahead and represents a driver of diversification and value creation over the medium term.

Investor webinar - Tuesday, September 1, 2026, at 10:00 AM (CEST)
Registration link: https://app.livestorm.co/euroland-corporate/memscap-webinaire-actionnaires-resultats-semestriels-2026?s=701e1f86-2cf5-4796-83bc-64bc4f0a81d8
You may submit your questions in advance at: https://memscap.com/en/visio/

Q3 2026 earnings: October 27, 2026

About MEMSCAP

MEMSCAP is a leading provider of MEMS-based pressure sensors, best-in-class in terms of precision and stability (very low drift) for two market segments: aerospace and medical.
MEMSCAP also provides variable optical attenuators (VOA) for the optical communications market.

For more information, visit our website at: www.memscap.com

MEMSCAP is listed on Euronext Paris (Euronext Paris - Memscap - ISIN code: FR0010298620 - Ticker symbol: MEMS)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Interim condensed consolidated financial statements at 30 June 2026

CONSOLIDATED STATEMENT OF INCOME

Interim condensed consolidated financial statements at 30 June 2026

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Interim condensed consolidated financial statements at 30 June 2026

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Interim condensed consolidated financial statements at 30 June 2026

CONSOLIDATED CASH FLOW STATEMENT

Interim condensed consolidated financial statements at 30 June 2026

View source version on businesswire.com: https://www.businesswire.com/news/home/20260831967564/en/

Yann Cousinet
Chief Financial Officer
Ph.: +33 (0) 4 76 92 85 00
[email protected]

Source: MEMSCAP

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