Hexagon Purus Q3 2026 slides: losses narrow on cost cuts, revenue falls

Hexagon Purus (OSE:HPUR) disclosed its Q3 2026 financial results on October 20, reporting a sharp decline in revenue alongside a narrowing of operating losses despite ongoing restructuring efforts. The company's stock dipped by 2.48% to $5.50 in pre-market trading, trading near the lower end of its 52-week range. Revenue for the quarter fell to NOK 150 million, marking a 40% decrease from NOK 252 million in the same quarter last year.

However, the company managed to cut its operating expenses by 50% compared to FY 2024, primarily driven by significant reductions in payroll costs, and improved EBITDA to negative NOK 83 million from negative NOK 116 million the prior year. Revenue was primarily impacted by lower activity in hydrogen infrastructure and transit bus applications, though a 176% increase in battery mobility revenue helped offset the decline.