The drone technology company Xer Tech sharply increased revenue during the first quarter while losses widened after costs related to the reverse acquisition. Revenue rose to SEK 5.6 million (0.2). Operating profit amounted to SEK -25.3 million (-8.7), while net profit was SEK -26.2 million (-6.7). Earnings per share amounted to SEK -0.92 (-67). Cash and cash equivalents at the end of the period amounted to SEK 42.1 million (1.0). During January, the company completed a reverse acquisition of Xer Tech AB and simultaneously changed its name from Renewable Ventures Nordic to Xer Tech Holding. According to the company, the sharp increase in revenue is mainly linked to the delivery of a drone system during the quarter. CEO Erik Herlyn says that demand for advanced drone systems is increasing in both commercial markets and the defense sector. The company highlights a growing project and sales pipeline and says that larger defense orders are expected to materialize during 2026. Xer Tech, SEK millionQ1 2026Q1 2025Revenue5.60.2Operating profit-25.3-8.7Net profit-26.2-6.7Earnings per share, kronor-0.92-67Cash and cash equivalents42.11.0