Demant Raises 2026 Outlook as Its Hearing Aid Sales Surge 17% in Q3

Demant—parent company of Oticon, Bernafon, HearingLife, and some of the hearing industry’s most prominent diagnostic equipment brands—raised its full-year financial outlook after preliminary third-quarter results showed a 17% organic increase in hearing aid revenue from external customers, measured by sales value rather than units sold. The company attributed the growth to the strong launch of Oticon Reveal in August, particularly in the US commercial market, and continued momentum from Oticon Zeal.

Group revenue reached DKK 6.624 billion (about US$994 million)—up 21% as reported. Organic revenue growth accelerated from 9% in Q2 to 11% in Q3, while hearing aid revenue growth from external customers climbed from 10% to 17%. Note that these increases reflect sales value rather than units sold. Hearing Care generated 6% organic growth, while Diagnostics grew 4%.

Oticon Zeal, the company’s wireless rechargeable in-ear hearing aid launched in January, had already helped strengthen Demant’s performance before Reveal’s introduction. In its first-half report, the company credited Zeal with supporting hearing aid market-share gains and a more favorable sales mix that lifted average selling prices. External hearing aid sales grew 10% organically in Q2, with Demant reporting share gains in both the US commercial and VA markets.

The growth also follows efforts to rebuild Demant’s US managed care business after market-share losses in 2024. By August 2025, the company had expanded its product offerings through parts of United’s managed care business, although management cautioned that this would not fully restore its previous position. In its Q1 2026 report, Demant reported much stronger managed care growth (from a low comparison base), even as the broader market contracted.

US market presents a mixed picture

The U.S. hearing aid market appears to have experienced significant volatility in 2026. Demant’s gains earlier this year came against relatively subdued US sales. In its first-half report, the company estimated that US commercial hearing aid unit sales were flat in Q2, following 3% growth in Q1. VA unit sales increased an estimated 1% in Q2.

Stronger outlook

The announcement marks Demant’s second increase to its full-year outlook this year. In August, the company raised its organic growth forecast from 3-6% to 6-7%; it now expects 7-8%. Similarly, its operating profit forecast before special items has risen from an initial DKK 4.1-4.5 billion (about US$615-675 million) to DKK 4.7-5.0 billion (≈ US$705-750 million). These successive upgrades reflect stronger-than-expected performance supported by Oticon Zeal and Reveal.

For Demant itself, full-year organic growth guidance rises to 7-8%, from 6-7%. Expected operating profit before special items increases to DKK 4.7–5.0 billion (approximately US$705–750 million), from DKK 4.4-4.8 billion (≈US$660–720 million).

The company also reports that it has resumed share buybacks, targeting at least DKK 3 billion (≈US$450 million) through 2027. Its full Q3 update is scheduled for November 3.