XMReality AB (publ) XMR
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Updated: 20 Sep 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.
Mixed financial signals with positive EBITDA but continued revenue decline and low cash position justify the review signal.
Market sentiment
Neutral ↑
Trend: Improving
The market shows weak positive interest around cost control and new agreements but attention remains low.
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
- 5 Sep 2026 — Report shows continued cost control with positive EBITDA despite weak revenue, driven by the Microsoft Dynamics integration launch.
The full analysis is open. Follow the company free for the full change history — and email next time the picture changes.
Show all changes (2) — follow the company freeAbout 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 (Q3)
12 Nov 2026
Catalysts
12 Nov 2026
Q3 report
Medium
Bull case
Cost control and Microsoft integration can create scalable growth if customer churn is reversed.
Bear case
Shrinking ARR and revenue risk keeping valuation low until growth returns.
Why this signal
Mixed financial signals with positive EBITDA but continued revenue decline and low cash position justify the review signal.
Recent news
- No company-specific press releases or new contracts have been published. An academic study from Linköping University in collaboration with the company confirms technical feasibility for real-time translation in browser-based video calls.
Key figures
Revenue
Q2 2026
SEK 3.1M
Revenue TTM
TTM
SEK 16.9M
EBITDA
Q2 2026
SEK 0.9M
Net income
Q2 2026
SEK -0.8M
Cash
Q2 2026
SEK 1.1M
Gross margin
Q2 2026
99.0%
Exchange
NGM
Type
Technology
Sector
AR-based remote guidance software
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.