XMReality AB (publ) XMR

NGM | Technology | AR-based remote guidance software
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Updated: 13 Nov 2026 Base analysis: 19 Jul 2026

The news check keeps the assessment current.

General analysis — not personal advice.

NEUTRAL Partly clear

Existing positions may be maintained pending the Q2 report.

Positive news on product development and customer agreements supports the review stance ahead of the next report.

Market sentiment Neutral ↑
Trend: Improving

The market shows interest in the product launch and the new agreement that strengthens existing customer relationships.

Risk assessment High
Dilution: High Low cash and history of equity issues
Jurisdiction: Low Operations in Sweden and EU
Execution: High Repeated customer losses and weak revenue growth
Cash flow: 6 mo

NEUTRAL is the call. Neutral is the market mood. High risk means a lot can go wrong.

Latest change
  • 13 Nov 2026 — The report shows improved revenue and positive EBITDA driven by new agreements and AI-agent launch.

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About the company

XMReality develops and sells AR-based remote guidance and video support solutions for on-site technicians. The company operates a subscription-based model with very high gross margins. Operations are in a growth phase but the company remains financially weak.

Sector: AR-based remote guidance software
Type: Tech
Next report (Annual)
11 Feb 2027
Bull case

Product improvements and upselling to existing customers can drive growth through the Microsoft ecosystem.

Bear case

Continued weak revenue growth and liquidity risks limit upside until ARR increases.

Why this signal

Positive news on product development and customer agreements supports the review stance ahead of the next report.

Recent news
  • The Q3 report was published on 12 November 2026 showing ARR of 12 332 TSEK, EBITDA of 1 409 TSEK and equity ratio of 47.8 %. New contracts with Power Integrations and Dina Nord plus the launch of an AI agent for Microsoft Copilot were noted.

Key figures

Revenue
Jan-Sep 2026
SEK 9.5M
Revenue TTM
TTM
SEK 12.6M
EBITDA
Q3 2026
SEK 1.4K
Net income
Q2 2026
SEK -0.8M
Cash
Q2 2026
SEK 1.1M
Gross margin
Q3 2026
99.0%
Shares outstanding
latest
1,220,487,576
EPS
Q2 2026
SEK 0.00
Exchange
NGM
Type
Technology
Sector
AR-based remote guidance software
XMReality AB (publ) XMR
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