Q2 net revenue rose 15.2%, or 12.7% in constant currency.
Gross margin improved 140 basis points to 33.9%.
Q2 adjusted EBITDA was USD 0.4 million.
Free cash flow was negative USD 0.6 million.
Full-year capex guidance was held at USD 20 million-USD 30 million.
FY2026 outlook raised on stronger revenue expectations
Oatly raised fiscal 2026 constant-currency revenue growth guidance to 8%-10% from 3%-5%.
The adjusted EBITDA outlook was left unchanged at USD 25 million-USD 35 million, with the company targeting the low end despite cost pressure related to the Middle East conflict.
Foreign exchange is now expected to lift reported net sales by 200-250 basis points, up from a prior assumption of 100-200 basis points.
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