Xer Tech Holding AB Interim Report January – March 2026
Stockholm, [June 5, 2026] –
Group Financial Overview for the Period January – March 2026
- Cash and cash equivalents as of 31 March 2026 amounted to SEK 42.1 (1.0) million.
- Net revenue for the period amounted to SEK 5.6 (SEK 0.2) million
- Operating costs amounted to SEK −32.0 (SEK −9.8) million.
- Net result for the period amounted to SEK -26.2 (-6.7) million. Earnings per share amounted to SEK -0.92 (SEK −67).
Significant Events During the Period
In January the Company completed a reverse acquisition of Xer Tech AB and changed its name from Renewable Ventures Nordic AB to Xer Tech Holding AB.
Significant Events After the Balance Sheet Date
The company held its Annual General Meeting on May 27 in Stockholm. During the Annual General Meeting, new board members Patrik Högberg, Håkan Behmer and Pär Gunnarsson were elected and Svein Kjellesvik left the board.
Dear Shareholders,
This quarter marks a significant milestone for Xer Tech Holding AB (“Xer”) following the successful completion of the reverse acquisition of Xer Tech AB and its operational subsidiary in Switzerland. As a result, the financial performance of the drone business is now reflected in Xer’s consolidated financial statements for the first time. Previous year comparisons are made with the subsidiary in Switzerland.
The revenue of M SEK 5.6 during Q1 is a sharp increase compared to the previous year (M SEK 0.2) and is mainly associated with the delivery of one drone system. It demonstrates, that commercial clients appreciate the operational and financial value of a fully equipped Xer drone and is a proof of the budgeted revenue per drone.
A solid cash position of M SEK 42.1 is a result of the recent financing and provides sufficient funds well into 2027 even if no revenues were made at current spendings.
Within just five years, Xer has developed a complex drone system that is operational within commercial and defences across five continents and is increasingly recognized for its performance, flexibility, and low logistical footprint.
This is an exciting time when demand for advanced drone technologies is accelerating across both commercial and defense markets. Global geopolitical developments have significantly increased the need for unmanned systems capable of intelligence gathering, surveillance, infrastructure protection, and specialized mission support. A solid list of leads and orders suggest substantial success going forward.
Commercial Progress
On the commercial side, our X8 PRO platform has been successfully deployed for applications including powerline inspection and methane gas detection. Customers such as ST Engineering, ConocoPhillips, Talentis Protect, Ebird, USI, and Delmar Aerospace have demonstrated the platform’s capabilities under demanding real-world conditions. The X8 PRO has now reached a high level of technological maturity. Most notably, recent enhancements have more than doubled payload capacity, creating a significantly more robust and scalable platform with substantial operational margins for customers even if multiple payloads are used. As a result, our focus is increasingly shifting from product development toward commercial expansion and sales execution. A notable achievement during Q1 2026 was the delivery of a complete drone system equipped with three high-end sensors to Copperbelt Energy in Zambia.
The system is already conducting fully autonomous beyond-visual-line-of-sight inspections of more than 50 kilometres of power lines per mission, supported by satellite-based command and control capabilities. Commercial system sales per solution currently range between SEK 1.8 million and SEK 5 million, depending on mission configuration and payload requirements. In addition, we continue to experience growing demand for engineering services, training, flight approval support, mission planning, payload integration, software integration, and operational consulting, all of which have proven to be valuable paid pre-sales activities.
Expanding Presence in Defense
During 2025, Xer expanded into the defense sector with a focus on airborne signal intelligence and mine detection solutions. The compact logistical footprint of the X8 platform has made it particularly attractive for maritime operations, which are becoming an increasingly important strategic focus for Xer. Therefore, several marines of NATO countries have asked Xer to participate in comprehensive ship-born missions during a NATO exercise in September 2026. Xer has selected four marines to act as sponsors for Xer.
Defense procurement cycles are typically longer and more complex than those in commercial markets. Against this backdrop, we view it as a significant achievement that within just 12 months of entering the sector, Xer secured contracts for two drone systems with a European army and a system integrator supporting operations in Ukraine.
To accelerate future growth, Xer has adopted a partnership-driven strategy focused on medium and large defense integrators. These collaborations are designed to improve access to Ministries of Defence, strengthen customer confidence, and create opportunities for larger procurement programs.
During the last 12 months, Xer has established collaborations through agreements, pilot programs, engineering projects, and system sales with several leading defense, aerospace, and mine-clearance organizations, including:
- Major German, global operating electronic warfare integrator – Order of a complete airborne system for evaluation and testing that will be utilized in a conflict scenario
- One of Spain’s leading maritime defense integrators – Ongoing planning for a 12-system mine-hunter program following successful shipbased testing campaigns in the Atlantic and Mediterranean.
- A leading German RF technology provider – Integration of the customer’s advanced payload into Xer’s airborne platform under an active leasing arrangement.
- A Swiss aerospace company specializing in advanced high-speed flight technologies – Sensor integration and flight-testing support.
- A Swiss mine-detection and excavation company – Joint operations to locate and excavate unexploded ordnance on a former military testing site in the Persian Gulf.
- One of Germany’s leading military equipment manufacturers – Collaboration relating to airborne electronic warfare and infrastructure protection systems.
These collaborations are aimed at integrating Xer’s airborne capabilities into broader defense architectures and operational systems. While we are expecting some of these initiatives to remain as a one-off or put on hold, others have the potential and may develop into substantial long-term procurement programs involving 5–30 systems with contract values of approximately SEK 5 million per system.
A key driver of this growth is the increasing demand for airborne signal intelligence capabilities for both land-based and maritime applications. Xer’s long-endurance multirotor systems, capable of operating for more than 2.5 hours, combined with rapidly advancing sensor technologies, position Xer competitively against traditional solutions that are often significantly more expensive and operationally complex.
Management expects larger defense order opportunities to materialize during 2026, supporting continued growth in the years ahead.
Product Development
Alongside commercial expansion, we continue to advance development of the X12 platform. Designed to carry payloads of 20 kilograms for three hours under demanding weather conditions, the X12 aims to deliver helicopter-class capabilities at a fraction of the cost, with a significantly smaller logistical footprint and simplified operational requirements.
Development activities are progressing according to plan. Engine system testing is currently underway alongside flight performance validation of the fully electric platform. Integration of the propulsion and airframe technologies is expected by the end of 2027, after which the platform is expected to become available for customer orders.
Strengthening the Organization
Xer was further strengthened during the quarter through the appointment of three new board members whose combined expertise in strategy, finance, taxation, business development, and security-related industries will support Xer’s next phase of growth.
In addition, on April 1 we welcomed a new Chief Commercial Officer. During the past three years, he has contributed to defense system sales valued at approximately SEK 2.5 billion for a major European defense contractor. He has already helped generate several significant opportunities that management intends to convert into sales over the coming years. We expect to be able to provide additional information after August 1.
Looking Ahead
The market environment for advanced unmanned systems continues to strengthen, particularly within defense, critical infrastructure protection, and airborne intelligence applications. With a proven technology platform, growing commercial adoption, expanding defense partnerships, and a growing project and sales pipeline, Xer is well positioned to capitalize on these opportunities.
As we move forward, our priorities remain clear: scaling sales, deepening strategic defense partnerships, advancing platform capabilities, and strengthening operational capacity to meet growing market demand.
To support our long-term growth strategy, shareholders approved the authorization for a capital increase at the Annual General Meeting. This provides the Company with the flexibility to pursue strategic acquisition opportunities as they arise. While our primary focus remains on opportunities within the drone and aerospace sectors, we are also evaluating complementary businesses beyond our core industry where we see the potential to create significant shareholder value and strengthen our strategic position.
We would like to thank our shareholders, partners, customers, and employees for their continued trust and support during this transformative phase of Xer’s development.
Sincerely,
Erik Herlyn
Chief Executive Officer
Xer Tech Holding AB
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This disclosure contains information that Xer Tech Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 05-06-2026 08:30 CET.
For further information, please contact:
Erik Herlyn, CEO Xer Tech Holding AB
investors@xer-tech.com
About Xer Technologies
Xer Technologies develops long-endurance hybrid-electric unmanned aircraft systems for defence and commercial missions. Through Xer Tactical Solutions, the company delivers airborne SIGINT, counter-UAV, mine and UXO detection, and maritime surveillance capability on a STANAG-compliant, open-architecture platform designed and manufactured in Europe. Xer Tech Holding AB is listed on the Spotlight Market Stock Exchange (ticker: XER) in Sweden. Learn more at www.xer-tech.com.
