Hengelo, the Netherlands, 26 August 2026, 07:00 CET
HENGELO, THE NETHERLANDS – NX Filtration N.V. (Euronext Amsterdam: NXFIL), the global provider of breakthrough hollow fiber nanofiltration membrane technology for pure and affordable water with strong sustainability benefits, today reports its condensed interim consolidated financial statements for the six months ended 30 June 2026.
Half year 2026 highlights
o Total revenues1 of €7.8 million, representing 19% growth compared to the first half year of 2025. Record order intake (+61% year-on-year), and 5 times larger order book than a year ago
o Gross margin of 59%, remaining strong and reflecting our leading technology position and disciplined commercial focus
o Streamlined commercial approach with strong focus on high-value product-market combinations, and a clearly defined path to breakthrough milestones in each of our regions o Major milestone in Europe with the largest order in NX Filtration’s history for a municipal drinking water treatment plant in Sweden
o Continued strong progress in our OEM funnel (totaling 193 OEMs) through new additions, conversion of commercial opportunities into projects and repeat orders, supporting future growth
o Further progress on our path towards EBITDA break-even: maintained operating expenses at last year’s level, while simultaneously growing the business
o Cash position of €18.4 million at the end of H1 2026. Being fully invested in our new factory, we are well positioned to execute our strategy and fund our growth ambitions
Floris Jan Cuypers, CEO of NX Filtration, states:
“The first half of 2026 marked an important step forward in the commercial development of NX Filtration. We achieved strong growth in order intake, resulting in a record order book that provides a solid foundation for future growth. A major milestone was securing the largest order in our history for a municipal drinking water treatment plant in Sweden. This order demonstrates the effectiveness of our focused regional commercial strategy, where we concentrate our efforts
1 Total revenues (defined as Gross income in the Semi-Annual Report) includes revenues from sale of goods in the Clean Municipal Water and Sustainable Industrial Water business lines and other income on region-specific high-potential applications to accelerate market adoption and commercial success.
As we continue to build our commercial momentum, we remain disciplined in aligning our cost base with the timing of our growth, maintaining a clear and controlled path towards EBITDA break-even operations. Together, these achievements reinforce our confidence in delivering sustainable long-term growth.”
Progress against our objectives
As communicated at our Capital Markets Day in April 2025, we focus our efforts on (1) growing revenues with on average 50% per year, (2) sustaining strong gross margin levels, and (3) realizing EBITDA break-even operations.
1. Growing revenues with on average 50% per year
During the first half of 2026, we further strengthened our strategic OEM relationships and continued to increase the quality of our commercial pipeline. Our commercial progress is increasingly reflected in the conversion of OEM relationships into commercial projects and repeat business, while our Hollow Fiber Nanofiltration (HFNF) funnel continued to expand to 193 OEM partners at 30 June 2026, compared to 175 at 30 June 2025 and 180 at year-end 2025. During the period, we advanced various OEMs towards commercial deployment. This included securing first HFNF orders with Applied Membranes in North America and a repeat project with SV Eau in France, demonstrating continued conversion of our commercial pipeline into revenue generating opportunities. We remain focused on further commercializing our OEM base through new projects, repeat orders, module replacements and the expansion of existing customer applications.
Alongside our HFNF activities, we continued to expand our Ultrafiltration (UF) and Microfiltration (MF) businesses. These product lines benefit from shorter sales cycles and attractive replacement markets, while also strengthening relationships with OEM partners and creating additional cross-selling opportunities for our HFNF technology. Together, our portfolio positions NX Filtration as a full-spectrum hollow fiber membrane technology partner, enabling customers to address a broad range of water treatment challenges through a single technology partner.
The global demand for sustainable water treatment solutions continues to grow, driven by increasing water scarcity, stricter environmental regulations, growing concern around micropollutants and PFAS, and the need for more energy-efficient treatment technologies. These long-term market drivers continue to support the attractive growth opportunities for NX Filtration.
2. Sustaining strong gross margin levels
Gross margin remained strong at 59%, reflecting the continued value of our differentiated membrane technology and disciplined pricing approach.
We continue to invest selectively in research and development to further strengthen our competitive product portfolio across HFNF, UF and MF. In H1 2026, NX Filtration capitalized €1.0 million of development costs which demonstrates the company’s continued efforts to invest in innovations for the future.
NX Filtration focuses its commercial efforts on carefully selected product-market-combinations (PMCs), where our proprietary membrane technology provides a clear competitive advantage and creates the highest value for customers. By targeting (1) drinking water from surface water (e.g. our recently won chemical free drinking water project in Sweden, and various peat river water treatment projects in Indonesia), (2) wastewater reuse (e.g. indirect potable water reuse projects in Mexico), (3) industrial micropollutant removal (e.g. wastewater polishing for a large potato-based products manufacturer in France), and (4) beverage clarification (for various global beer and softdrinks producers), we concentrate our resources on applications with the greatest commercial potential. This focused approach enables us to deepen customer relationships, accelerate OEM adoption and build a scalable, high-quality order pipeline.
3. Realizing EBITDA break-even operations
Alongside our commercial progress, we continued to proactively align our cost base with the timing of realizing our growth ambitions. Following the completion of our factory, and associated operational improvements, we remain focused on increasing operational leverage while maintaining the capabilities required to support future growth.
Normalized EBITDA improved to €6.7 million negative (H1 2025: €7.2 million negative), reflecting the combination of revenue growth, sustained gross margins and disciplined cost management.
Capital expenditures remained at a significantly lower level following the completion of our new production facility (€1.2 million versus €4.4 million in H1 2025). Being fully invested in our new factory, we are well positioned to execute our strategy and fund our growth ambitions.
Total FTE amounted to 156 at 30 June 2026 (31 December 2025: 158). We continue to proactively align our cost levels to the timing of realizing our growth, therewith controlling our path towards break-even operations.
Priorities and outlook for the second half of 2026
Looking ahead, NX Filtration is well positioned to continue building on the commercial momentum achieved during the first half of 2026. Over recent years, we have established strong foundations for our next phase of growth, including our differentiated portfolio of nanofiltration, ultrafiltration and microfiltration products, expanded production capacity, strengthened ESG proposition, global commercial organization and an increasingly robust pipeline of high-quality opportunities.
During the second half of the year, we will remain focused on further developing strategic OEM partnerships, converting our growing commercial pipeline into orders and expanding business with existing customers through repeat sales. At the same time, we continue to sharpen our commercial execution by concentrating our efforts on our carefully selected product-market combinations where our technologies deliver real value for customers and where we see the strongest opportunities for profitable growth.
In parallel, we remain disciplined in aligning our cost base with the timing of realizing our growth ambitions, maintaining a clear and controlled path towards EBITDA break-even while preserving the capabilities needed to support future expansion. With a cash position of €18.4 million at 30 June 2026, we are well positioned to execute our strategy and fund our growth ambitions.
We reiterate our medium-term financial objectives of delivering average annual revenue growth of approximately 50%, sustaining strong gross margin levels and achieving EBITDA break-even as the business continues to scale. Supported by the strong commercial progress made during the first half of 2026, including record order intake and a record order book, we look to the second half of the year and beyond with great confidence.
The half year 2026 report is available on the Investor Relations section of the website www.nxfiltration.com.
Analyst call / webcast
NX Filtration will host an analyst call and webcast at 9:30 CEST on 26 August 2025 to comment on the H1 2026 results. Please see www.nxfiltration.com/investors for details to participate.
Financial calendar
FY 2026 results: 9 February 2027
About NX Filtration
NX Filtration is a provider of membrane technology for producing pure and affordable water to improve quality of life. Its hollow fiber nanofiltration (HFNF) technology removes micropollutants (including pharmaceuticals, medicines, PFAS and insecticides), color and selective salts, but also bacteria, viruses and nanoplastics, from water whilst offering strong sustainability benefits. For further information on NX Filtration please visit www.nxfiltration.com
