Mips AB (publ) MIPS

Stockholm | Technology | Helmet safety technology
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Updated: 15 Sep 2026 Base analysis: 6 Apr 2026

The news check keeps the assessment current.

General analysis — not personal advice.

BUY Clear

Add in tranches rather than chasing strength; prioritize buying on pullbacks or if upcoming Q3 commentary suggests margins can be sustained despite the settlement cost.

Q2 confirms scalability and strong demand while the largest legal overhang risk has been reduced through the settlement.

Market sentiment Positive ↑
Trend: Improving

Sentiment has strengthened to very positive after a clear Q2 beat and reduced legal uncertainty following the settlement; short-term there is some concern over the one-off effect in Q3 and volatility after the share price surge.

Risk assessment Low
Dilution: Low Profitable, cash-flow positive, low leverage
Jurisdiction: Medium US tariffs and China-linked supply chain exposure
Execution: Medium Koroyd integration and cost control are key

BUY is the call. Positive is the market mood. Low risk means less can go wrong.

Latest change
  • 1 Aug 2026 — The report beat expectations driven by strong organic growth and margin expansion following customer inventory adjustments.

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About the company

Mips AB develops and licenses rotational impact protection technology (Mips BPS) integrated into helmets across sports, motorcycle and professional safety. The company is profitable with a scalable ingredient-brand model, but faces margin pressure, FX and trade/tariff uncertainty. The Koroyd acquisition broadens the technology portfolio and could support growth through 2026.

Sector: Helmet safety technology
Type: Tech
Next report (Q3)
21 Oct 2026
Catalysts
●
21 Oct 2026
Q3 report 2026 High
◐
Oct 2026
Full-year trend update Medium
Bull case

Q2 shows high organic growth and margin expansion that strengthens the growth case.

Bear case

One-off cost from the settlement and risk of margin pressure may affect the Q3 result.

Why this signal

Q2 confirms scalability and strong demand while the largest legal overhang risk has been reduced through the settlement.

Recent news
  • The share has traded sideways between approximately 368 and 392 SEK during the first half of September. Mips was highlighted in media as one of the few companies with unanimous buy recommendations from all covering analysts.

Key figures

Revenue
Q2 2026
SEK 232M
Net income
Q2 2026
SEK 95.0M
Gross margin
Q2 2026
74.1%
Shares outstanding
2026-08-31
RAW 26.5M
EPS
Q2 2026
SEK 3.59
Exchange
Stockholm
Type
Technology
Sector
Helmet safety technology
Mips AB (publ) MIPS
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Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.