Smartoptics Group ASA (SMOP) - Q1 2026 Financial Results

07 May 2026 06:00 CEST

Oslo, Norway - May 7, 2026 - Smartoptics Group ASA (Smartoptics, OSE: SMOP)
today reported record revenues of USD 22.9 million in the first quarter of 2026,
an increase of 59.6 percent compared to the same period last year. Growth was
strong in the Americas and EMEA, as well as across all business areas, supported
by sustained high customer demand and increasing activity related to AI-driven
network expansion and data center interconnect.

"We entered 2026 with strong momentum, and Q1 clearly demonstrates both the
demand in our markets and the attractiveness of our product offering. We are
seeing accelerating investments in optical networking, alongside continued
growth across all regions," said Magnus Grenfeldt, CEO of Smartoptics, and
continued:

"A clear highlight of the quarter was the continued progress in our large
-account strategy. We secured additional orders from major customers in both the
Americas and EMEA, including regional operators, neo-scalers focused on AI
workloads, and government customers expanding their network capacity."

Gross margin in Q1 2026 improved to 48.2% (47.3%). EBITDA amounted to USD 2.7
million (11.7% margin). Excluding non-recurring costs of USD 0.5 million related
to production relocation, the underlying EBITDA margin was 13.7%. EBIT more than
tripled year-over-year to USD 1.8 million (7.9% margin).

Regionally, the Americas delivered a record USD 13.9 million in revenue (+77.8%
YoY). EMEA grew 46.5% to USD 7.8 million, with increasing traction among large
accounts. APAC remained project-driven at USD 1.2 million.

Smartoptics continues to invest in scalability and platform development. The
production relocation supports higher volumes, while ongoing investments in
software and AI capabilities are aligned with the company's roadmap.

The global optical transport market is expected to grow from approximately USD
16.5 billion in 2025 to USD 24.7 billion by 2030. Smartoptics' open and software
-driven approach positions the company to capture a disproportionate share of
this growth.

The report and presentation for the first quarter 2026 are enclosed.

-ENDS-

Quarterly presentation

The company will host a presentation of the results by CEO Magnus Grenfeldt and
CFO Stefan Karlsson today at 08:00 CEST at Hotel Continental in Oslo. The
presentation will also be webcast.

Date: Thursday, May 7, 2026

Time: 08:00 CEST

Venue: Hotel Continental, Oslo

Language: English

Link:  https://qcnl.tv/p/cPHPnEg_HCxvoRNUg9FiZQ

For more information please contact:
Magnus Grenfeldt
CEO
Smartoptics
+46 73-366 88 77
E-mail: magnus.grenfeldt@smartoptics.com

About Smartoptics
Smartoptics provides innovative optical networking solutions and devices for the
new era of open networking. Our customer base includes thousands of enterprises,
governments, cloud providers, Internet exchanges as well as cable and telecom
operators. We have an open networking approach in everything we do which allows
our customers to break unwanted vendor lock-in, remain flexible and minimize
costs. Our solutions are used in metro and regional network applications that
increasingly rely on data center services and specifications. Smartoptics is a
Scandinavian company founded in 2006. We partner with leading technology and
network solution providers such as Brocade, Cisco and Dell and have a global
reach through more than 100 business partners.
For additional information about Smartoptics, please visit
https://smartoptics.com/

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Per Burman, Chief Marketing Officer of
Smartoptics, at the time and date set out above.

More information:
Access the news on Oslo Bors NewsWeb site

672594_Smartoptics_Q1_2026_Financial_Presentation.pdf
672594_Q1_2026_SMOP_Stock_Exchange_PR.pdf
672594_Smartoptics_Q1_2026_report.pdf