IN BRIEF
Mips, whose safety solutions are built into the helmets of many brands, published its third-quarter 2026 report on 21 October. Its net sales rose by 59 %, to 215 million Swedish kronor, compared with 135 million a year earlier. Organic growth came to 24 %. In cycling, Mips posted its twelfth consecutive quarter of growth.
| Net sales, July-September 2026 | SEK 215 M (135 M a year earlier), +59 % |
| Organic growth in the quarter | 24 % |
| Net sales over nine months | SEK 598 M (386 M), +55 %, of which 31 % organic |
| Operating profit for the quarter | SEK 60 M (44 M); SEK 97 M adjusted (57 M) |
| Adjusted operating margin | 45,2 % (42,1 %) |
| Sports category (including cycling) | +37 %, of which 22 % organic |
The Mips group, which brings together the Mips and Koroyd brands, designs safety solutions that brands around the world integrate into their helmets and other protective gear. Its third-quarter report, covering July to September, shows a company in strong growth.
Mips sales up 59 %
Net sales reached 215 million Swedish kronor for the quarter, compared with 135 million a year earlier, an increase of 59 %. Organic growth was 24 %. The report states that Koroyd, acquired in December 2025, contributed 30 % of the quarter’s growth, and that currency effects had a positive impact of six per cent on sales. From January to September, the report shows sales up 55 %, to 598 million kronor, of which 31 % was organic growth.
Profitability followed. Operating profit for the quarter amounted to 60 million kronor, compared with 44 million. Adjusted for items affecting comparability, it reached 97 million, for an adjusted margin of 45.2 %, compared with 42.1 % a year earlier. The report also covers a patent dispute: on 2 July, Mips and its customer Revelyst settled the litigation with BrainGuard Technologies, and Mips will pay $3.25 million.
Cycling posts a twelfth quarter of growth
The Sports category, which includes cycling, grew by 37 % in the quarter, of which 22 % was organic growth. Mips states that the bike sub-category continued to perform well and marked its twelfth consecutive quarter of growth, following the post-pandemic slowdown in the industry. The company does not give a separate figure for cycling growth.
The other categories grew even faster in reported terms: +396 % for safety (of which 34 % organic) and +116 % for motorcycling (of which 46 % organic). By region, Europe posted 23 % organic growth, against a comparison quarter that had grown by more than 70 % a year earlier. Mips reports 32 % organic growth in North America. Mips also notes encouraging data in Germany, where bike sales rose by more than 10 % early in the year.
“I am eagerly looking forward to the end of 2026 and to continuing our growth journey in 2027,” concludes Max Strandwitz, President and CEO of Mips.
