Heliospectra AB Posts 171% Revenue Growth in Q1 2026, Pursues SEK 100M Greenhouse Pipeline

Key Takeaways

• Heliospectra AB reported Q1 2026 net sales of SEK 5,148 thousand, a 171% increase from SEK 1,901 thousand in Q1 2025, while order intake rose 99% year-over-year to SEK 6,233 thousand.
• The company is in active discussions for greenhouse projects totaling SEK 70–100 million across Canada, the Netherlands, and the Nordics, though no large contracts were signed during the quarter.
• Heliospectra secured a project valued at approximately MSEK 1.3 with The New Zealand Institute for Plant & Food Research during customer engagement trips to Australia and New Zealand.
• The company introduced its new MITRA VF four-channel LED solution for multi-layer climate rooms and is preparing to launch its helioSENSE Light Use Efficiency Threshold (LUEt) technology at GreenTech Amsterdam in June 2026.
• Cash equivalents fell to SEK 9,638 thousand at quarter-end from SEK 26,799 thousand at year-end 2025, with the board evaluating financing options while awaiting larger project closings.

Heliospectra AB Q1 2026 Revenue and Order Growth

Heliospectra AB reported net sales of SEK 5,148 thousand for Q1 2026, a 171 percent increase compared to SEK 1,901 thousand in the same period of 2025, according to the company’s quarterly report published April 26. Order intake also improved materially, rising to SEK 6,233 thousand from SEK 3,129 thousand in Q1 2025, representing year-over-year growth of 99 percent.

Despite the improved top-line metrics, the Gothenburg-based company posted an operating loss of SEK -8,450 thousand for the quarter, compared to SEK -9,009 thousand in Q1 2025. EBITDA came in at SEK -7,561 thousand versus SEK -8,119 thousand a year earlier. Personnel costs rose to SEK 4,477 thousand from SEK 3,814 thousand, primarily driven by the expansion of Heliospectra’s Netherlands operations, which added three employees following Q1 2025.

Large Greenhouse Pipeline Active Across Three Markets

During Q1, Heliospectra was involved in greenhouse project discussions in the range of SEK 70–100 million across Canada, the Netherlands, and the Nordics. While none of those projects were signed during the quarter, management noted the company is increasingly recognized as a preferred technology partner by growers based on the performance and efficacy of its LED solutions.

“The first quarter confirms that we are moving in the right direction. Our market presence is increasing, our offering continues to strengthen, and our pipeline of larger opportunities remains active,” said Bonny Heeren, CEO of Heliospectra AB.

The company participated in Indoor AgCon, Fruit Logistica, and HortiContact during Q1, supporting customer relationship development during the key quotation period for the 2026/2027 greenhouse lighting season.

Heliospectra AB Expands Reach in Australia and New Zealand

Customer engagement trips to Australia and New Zealand resulted in a secured contract with The New Zealand Institute for Plant & Food Research, valued at approximately MSEK 1.3. The visits also served as an opportunity to introduce the new MITRA VF solution — a four-channel LED lighting system for multi-layer reach-in and walk-in climate rooms.

With MITRA VF now added to the portfolio, Heliospectra has completed its offering across three cultivation environments: ELIXIA for controlled spectrum research, MITRA X for greenhouse compartments, and MITRA VF for multi-layer climate room applications. All three integrate with the helioCORE control platform.

New Products and Commercial Launch Plans

Heliospectra is also advancing its helioSENSE technology toward commercial launch. The solution uses fluorescence sensing to measure Light Use Efficiency Threshold (LUEt) directly in greenhouse environments, supporting growers in optimizing light levels without destructive measurement methods. Initial results in Phalaenopsis orchid cultivation have shown that the technology can help growers balance light intensity to protect plant health and reduce energy consumption. The company plans to formally introduce both MITRA VF and helioSENSE at GreenTech Amsterdam in June 2026.

Cash equivalents fell to SEK 9,638 thousand at the end of Q1 from SEK 26,799 thousand at year-end 2025, partly due to supplier payments and deferred tax obligations in Canada and the Netherlands. The board is evaluating complementary financing options and has extended payment terms with a key supplier from 30 to 60 days to improve near-term liquidity.