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Kempower (HLSE:KEMPOWR) Stock Faces Revenue Slowdown Question As Q2 Loss Tests Bullish Narratives

Simply Wall St · 1d ago

Kempower Oyj (HLSE:KEMPOWR) has just reported Q2 2026 revenue of €69.5 million with a basic EPS loss of €0.03, alongside trailing twelve month revenue of €281.4 million and a trailing EPS loss of €0.16 that keeps the company firmly in loss making territory. Over recent quarters the company has seen revenue range from €43.5 million in Q1 2025 to €73.7 million in Q3 2025, while quarterly basic EPS has moved between a loss of €0.11 in Q1 2025 and a smaller loss of €0.00 in Q3 2025. This sets up the latest result as another checkpoint on whether higher volumes are starting to improve margins.

See our full analysis for Kempower Oyj.

With the headline numbers on the table, the next step is to see how these results line up with the prevailing growth and profitability narratives around Kempower Oyj and where those stories might need a rethink.

See what the community is saying about Kempower Oyj

HLSE:KEMPOWR Revenue & Expenses Breakdown as at Jul 2026
HLSE:KEMPOWR Revenue & Expenses Breakdown as at Jul 2026

Losses Narrow on Trailing Basis

  • On a trailing twelve month view, Kempower Oyj reports revenue of €281.4 million with a net loss of €8.9 million, compared with a quarterly Q2 2026 loss of €1.6 million on revenue of €69.5 million.
  • Consensus narrative points to expectations of revenue growing around 16.1% per year and earnings rising 57.86% per year, and this recent run rate of €281.4 million in trailing revenue against a relatively modest trailing loss means the growth story is being measured against a business that is already handling meaningful volumes.
    • Analysts referring to profit margins improving from a current starting point around a loss of €8.9 million are effectively watching whether quarterly losses like the €1.6 million in Q2 2026 tighten in a way that lines up with those earnings forecasts.
    • Where consensus assumes improved profitability over time, the fact that quarterly net losses have moved between €6.2 million in Q1 2025 and €0.2 million in Q3 2025 shows that Kempower Oyj’s path has been uneven, which keeps the focus on whether the current loss levels stabilize or fluctuate further.

Revenue Growth Outpaces Market

  • Forecasts indicate Kempower Oyj’s revenue could grow at 16.1% per year compared with 4.7% per year for the wider Finnish market, highlighting how Q2 2026 revenue of €69.5 million and trailing twelve month revenue of €281.4 million sit within a higher growth profile than the broader market.
  • Bulls argue that drivers like expanding fast charging infrastructure and growth in electric vehicle fleets support that higher 16.1% revenue growth and 57.86% earnings growth forecast, and the current revenue base of €281.4 million provides a concrete starting point to test those views.
    • Supportive elements for the bullish view include the idea that build out of charging networks and growth in North American orders could help turn a trailing loss of €8.9 million into the positive earnings shown in forecasts, if those volumes keep flowing through the income statement.
    • On the other hand, risks that bulls acknowledge, such as pricing pressure and potential delays in funded projects, would show up quickly in figures like quarterly revenue, which has already ranged between €43.5 million and €73.7 million over the past six quarters, reminding investors that the growth path may not be smooth.
On top of these growth figures, some investors want to understand how the optimistic case ties Q2 performance to longer term targets and assumptions, and that is where the dedicated bullish narrative can add useful colour to the raw numbers 🐂 Kempower Oyj Bull Case.

Valuation Signals Pull Both Ways

  • The stock trades at €10.15 against a DCF fair value of about €14.01 and around 2x trailing P/S, compared with a 1.4x P/S for the European Electrical industry and 0.9x for peers, so Kempower Oyj screens as cheaper than the DCF fair value but more expensive on P/S multiples.
  • Bears highlight that Kempower Oyj is still loss making on a trailing basis, with a €8.9 million trailing twelve month loss and quarterly losses including €1.6 million in Q2 2026, and argue that paying around 2x sales for a company with this loss profile leaves little room for disappointment even if revenue growth stays ahead of the Finnish market.
    • This concern is reinforced by the history of losses widening over the past five years that is referenced in the analysis, which means the recent loss figures are being judged against a track record where profitability has not yet converted despite growing revenue.
    • At the same time, the gap between the €10.15 share price and the €14.01 DCF fair value provides a counterpoint to the bearish view, since it suggests that if forecasts for 16.1% revenue growth and 57.86% earnings growth are met, today’s richer P/S ratio could still be compatible with a lower modeled valuation than the one implied by sales multiples alone.
Skeptical investors who focus on the current losses and richer P/S multiple often want a deeper breakdown of the cautious case before making any judgment, so reviewing a more bearish narrative around Kempower Oyj can help frame how those risks connect back to the latest earnings maths 🐻 Kempower Oyj Bear Case

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Kempower Oyj on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

If this mix of optimism and concern around Kempower Oyj feels familiar, consider promptly reviewing the key risks and rewards for yourself through the 2 key rewards and 1 important warning sign.

See What Else Is Out There

Kempower Oyj is still loss making with a €8.9 million trailing loss and trades on richer sales multiples, so some investors may see limited margin for error.

If you are uneasy about paying a premium for a company that is not yet profitable, you may wish to shift your focus toward sturdier options in the solid balance sheet and fundamentals stocks screener (420 results).

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.