The massive order intake acceleration (2.2x QoQ) and raised guidance signal strong near-term revenue visibility. Monitor Q4 order intake and the conversion of the €96.8M backlog into revenue. The €25M+ HDI order and Sprint cost programs support margin guidance. Dilution from note conversions is manageable at ~1.9% of shares outstanding.
Price Chart
Executive Summary
SCHMID Group reported Q3 2026 preliminary revenue of €24.0M and order intake of €67.8M, more than doubling Q2's €30.7M. Management raised full-year order intake guidance from €125-150M to >€150M and confirmed revenue guidance of >€100M with 6-9% Adjusted EBITDA margin. A separate €25M+ equipment order for HDI capacity in Malaysia was announced, with >€7M already booked in Q3. Additionally, $4M of 2028 convertible notes were converted into 1.17M shares, leaving $5M outstanding.
Key Facts
- Q3 2026 preliminary revenue of €24.0 million
- Q3 2026 order intake of €67.8 million (more than double Q2's €30.7 million)
- Order backlog grew to €96.8 million as of September 30, 2026, from €54.8 million at June 30, 2026
- Full-year 2026 order intake guidance raised from €125-150 million to more than €150 million
- Revenue guidance of >€100 million and Adjusted EBITDA margin of 6-9% confirmed
- Equipment order of more than €25 million for HDI capacity expansion in Malaysia announced
- $4 million of 7.00% Senior Convertible Notes due 2028 converted into 1,167,712 ordinary shares in September 2026
- 62,805,666 ordinary shares outstanding as of October 21, 2026 (excluding 5,000,000 unvested earn-out shares)
Financial Impact
Q3 revenue €24M; order intake €67.8M; order backlog €96.8M; new €25M+ equipment order; FY guidance raised to >€150M order intake; $4M notes converted into 1.17M shares
Risk Factors
- Preliminary/unaudited Q3 figures may be revised
- Order backlog conversion to revenue may be delayed or cancelled
- Negative equity position and high leverage per prior 20-F remain structural risks
- Dilution from remaining $5M convertible notes and 5M earn-out shares
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001213900-26-111170 |
| Document: ea030922901ex99-1.htm | 0001213900-26-111170 |
| Document: ea030922901ex99-2.htm | 0001213900-26-111170 |
| Document: 0001213900-26-111170-index-headers.html | 0001213900-26-111170 |
| Document: 0001213900-26-111170-index.html | 0001213900-26-111170 |
| Document: 0001213900-26-111170.txt | 0001213900-26-111170 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d ago | 6-K | $3.11 | awaiting T+5 | — | $2.94 (−5.47%) |
Oct 1, 2026 26d ago | EFFECT | $4.45 $3.97 | ▼ −10.69% | ▼ −11.99% | $2.94 (−33.86%) |
Oct 1, 2026 26d ago | EFFECT | $4.45 $3.97 | ▲ +10.69% | ▲ +11.99% | $2.94 (+33.86%) |
Oct 1, 2026 26d ago | EFFECT | $4.45 $3.97 | ▼ −10.69% | ▼ −11.99% | $2.94 (−33.86%) |
Oct 1, 2026 26d ago | EFFECT | $4.45 $3.97 | ▼ −10.69% | ▼ −11.99% | $2.94 (−33.86%) |
Sep 8, 2026 7w ago | Insider Cluster | $3.35 $3.20 | ▼ −4.48% | ▼ −3.36% | $2.94 (−12.24%) |
Aug 25, 2026 9w ago | 6-K | $3.42 $3.11 | ▼ −9.06% | ▼ −8.53% | $2.94 (−14.04%) |
Aug 25, 2026 9w ago | Press Release | $3.42 $3.11 | ▲ +9.06% | ▲ +8.53% | $2.94 (+14.04%) |
Jul 24, 2026 13w ago | EFFECT | $4.12 $4.04 | ▲ +1.82% | ▲ +2.20% | $2.94 (+28.55%) |
Jul 14, 2026 14w ago | 6-K | $4.34 $4.38 | ▲ +0.92% | ▲ +1.90% | $2.94 (−32.26%) |
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