Nosa Plugs posted strong Q3 growth and positive EBITDA, but shares face pressure after the company withdrew its 2026 financial targets due to Nozoil regulatory delays and sluggish Smell training performance.
Q3 revenue grew 180% to SEK 10.2 million with positive EBITDA of SEK 1.79 million (17% margin), but the company withdrew its 2026 targets of SEK 50 million revenue and a 15% EBITDA margin and gave no new full-year guidance. The guidance withdrawal, driven by the delayed Nozoil technical file, postponed Middle East deliveries and weaker Smell training sales, is a clear negative surprise likely to weigh on the share despite the strong quarter.
Because the company withdrew its 2026 targets of SEK 50 million in revenue and a 15% EBITDA margin, citing delays to the Nozoil technical file, postponed Middle East deliveries and weaker-than-planned Smell training sales, and did not provide new full-year guidance.
Approval of the Nozoil technical file before year-end would allow launches outside Europe and gross margin improvements, and 2027/2028 targets of 25% sales growth and an 18% EBITDA margin remain in place.
Nosa Plugs reported a strong third quarter with revenue rising 180% to SEK 10.2 million and positive EBITDA of SEK 1.79 million. Despite this operational progress, the company withdrew its 2026 financial targets of SEK 50 million in revenue and a 15% EBITDA margin, citing regulatory delays for its Nozoil technical file and weaker-than-expected Smell training sales. No new full-year guidance was provided.
Because the company withdrew its 2026 targets of SEK 50 million in revenue and a 15% EBITDA margin, citing delays to the Nozoil technical file, postponed Middle East deliveries and weaker-than-planned Smell training sales, and did not provide new full-year guidance.
Approval of the Nozoil technical file before year-end would allow launches outside Europe and gross margin improvements, and 2027/2028 targets of 25% sales growth and an 18% EBITDA margin remain in place.