STOCKHOLM -- NOTE reported record second-quarter revenue of approximately $123 million, up 20% year over year, driven by acquisitions and continued strength in its security and defence and Industrial businesses.

Operating profit totaled approximately $9 million, while adjusted operating profit reached $11 million, resulting in an adjusted operating margin of 9%. For the first six months of 2026, revenue increased 8% to approximately $224 million.

During the quarter, Note opened a new manufacturing facility in Torsby, Sweden, doubling production capacity at the site, and continued integrating acquisitions STI and Kasdon, further expanding its position in the security and defense market. The company said its order backlog for 2026 was 11% higher than a year earlier on a like-for-like basis and expects organic growth to strengthen in the second half despite continued component supply constraints.

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