Kinnevik AB (KINVBN) Q3 2026 Earnings Report
MX:KINVBN Q3 2026 EPS Results
- Actual EPS
- MXN 1.46
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- MXN 4.96
MX:KINVBN Q3 2026 Revenue Results
- Actual Revenue
- MXN 0
- Expected Revenue
- ―
- Beat/Miss
- ―
- YoY Revenue Growth
- -100.00%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/15/2026
- Time
- Before Open
- Conference Call
- Thursday, October 15, 2026
Kinnevik AB's next earnings date is estimated for February 4, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was broadly positive: Kinnevik reported a 1% increase in NAV, a 19% quarterly total shareholder return, strong portfolio revenue growth, major financing rounds at Enveda and Tandem, improving margins and substantial liquidity. These positives were tempered by Climate Tech write-downs, lower portfolio profitability than listed peers, valuation pressure at several companies, reimbursement challenges at Oviva, Cityblock dilution and uncertainty around the timing of new investments.
Management said it will build a more focused portfolio of fewer, larger profitable holdings in later growth stages, allocate capital to growth companies with a clear path to profitability, and bring management cost down to SEK 200 million per year by 2027, while maintaining financial flexibility and not putting a timetable on new investments or exits; Spring Health is guided to over $1 billion of revenue on a run rate at maintained profitability, Perk is approaching $400 million in annualized revenue after growing 48% in 2025, and Cityblock’s annualized revenue will now reach some USD 2.2 billion while serving almost 200,000 patients in the U.S.
- Net Asset Value and Shareholder Return IncreasedNet asset value reached SEK 29.8 billion at quarter-end, equivalent to SEK 108 per share and up 1% from Q2. Kinnevik B delivered total shareholder return of 19% in the quarter.
- Strong Liquidity PositionKinnevik invested SEK 165 million and divested SEK 183 million during the quarter, ending with a net cash position of SEK 7.4 billion.
- Private Portfolio Value IncreasedThe private portfolio increased 1% during the quarter to SEK 22.5 billion. Health & Bio added SEK 400 million, mainly from Enveda's financing round, while emerging companies added SEK 300 million, driven by Tandem Health.
- Revenue Growth Outpaced Listed PeersOver the last 12 months, Kinnevik's Health & Bio and software companies grew revenues by over 30%, including acquisitions, which management described as 2x to 3x as fast as the broader listed peer groups.
- Portfolio Margin ImprovementCombined EBITDA margins increased by 7 percentage points so far this year, while management said the portfolio companies continued to deliver growth and improved margins during the quarter.
- Enveda Financing and Clinical ProgressEnveda, representing 9% of the portfolio, raised USD 311 million and is advancing 3 clinical programs for eczema, obesity and irritable bowel syndrome. Kinnevik invested $5 million and now owns 11% of the company, which is valued at USD 1.8 billion. The additional capital will be used to scale Enveda's AI-enabled platform for identifying new chemistry for drug development.
- Tandem Health Funding and InvestmentKinnevik invested SEK 12 million in Swedish health tech company Tandem, which raised $100 million during the quarter. Tandem's AI medical assistant is integrated with 130 medical records in 14 European countries. Kinnevik invested its pro rata share on a fully diluted basis.
- Cityblock Scale and AcquisitionCityblock acquired Homeward Health in an all-stock transaction. Management said the acquisition is expected to bring growth, strategic benefits and synergies, with annualized revenue reaching some USD 2.2 billion and nearly 200,000 patients served in the U.S.
- Spring Health Continued GrowthSpring Health continued to grow strongly. Pro forma for the Alma acquisition, it has forward revenues of around $1 billion at maintained profitability, and management said the company is scaling and continuing to perform well.
- Perk Approaching $400 Million in Annualized RevenuePerk is approaching $400 million in annualized revenue after growing 48% in 2025, roughly double the level reported at the time of its January 2025 funding round.
- Growth Across Multiple Portfolio CompaniesMews and Oviva continued to grow at high rates with a focus on profitability. Betterment, Cityblock and Instabee also continued to grow, while Instabee's growth and cash flow lifted its value.
- Currency TailwindWith approximately three-quarters of the private portfolio in U.S. dollars and one-quarter in euros, the weaker krona added 3% to portfolio value during the quarter.
- Strategic Focus on Fewer Profitable HoldingsManagement plans to build a more focused portfolio concentrated in fewer, larger profitable holdings in later growth stages where Kinnevik can be the best owner. The company said it is also working to concentrate the current portfolio and optimize value in exit processes without rushing.
- Management Cost Reduction TargetKinnevik plans to bring management costs down to SEK 200 million per year by 2027 and said it will apply financial discipline to capital allocation and management costs.
- Strong Balance Sheet and Investment CapacityManagement emphasized that Kinnevik has a strong balance sheet and that maintaining financial flexibility is strategic during the portfolio transformation. The company is building a pipeline for future capital deployment.
- Focused Team and Faster Decision-MakingKinnevik has a focused team of fewer than 25 people with clear roles and responsibilities. Management said the concentrated team enables faster decision-making.
MX:KINVBN Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 04, 2027 | 2026 (Q4) | ―- | -11.22 | ― | ― |
| Oct 15, 2026 | 2026 (Q3) | ―1.46 | 4.96 | -70.58% (-3.50) | |
| Jul 07, 2026 | 2026 (Q2) | ―11.50 | 4.19 | 174.29% (+7.31) | |
| Apr 16, 2026 | 2026 (Q1) | ―-53.36 | -20.33 | -162.52% (-33.04) | |
| Feb 03, 2026 | 2025 (Q4) | ―-11.22 | 12.01 | -193.42% (-23.24) | |
| Oct 16, 2025 | 2025 (Q3) | ―4.96 | -12.57 | 139.45% (+17.54) | |
| Jul 08, 2025 | 2025 (Q2) | ―4.19 | -1.27 | 429.93% (+5.46) | |
| Apr 24, 2025 | 2025 (Q1) | ―-20.33 | -1.27 | -1500.00% (-19.06) | |
| Feb 04, 2025 | 2024 (Q4) | ―12.01 | -17.3 | 169.46% (+29.31) | |
| Oct 16, 2024 | 2024 (Q3) | ―-12.57 | -21.94 | 42.68% (+9.36) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
