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Biotage (BIOT) investor relations material
Biotage Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q1 2025 revenue was 385 MSEK, down 19.9% year-over-year, mainly due to bioprocessing volatility and no plasma revenue, while non-plasma and small molecule segments grew 3% each.
Gross margin was stable at 62.9%, with sequential improvement; adjusted EBITDA was 50 MSEK, down 60% from Q1 2024.
Operating profit (EBIT) was -12 MSEK, down from 67 MSEK; profit for the period was 4 MSEK, EPS 0.05 SEK.
37 new customers were added in early drug discovery, strengthening the sales pipeline.
Demand for peptide systems exceeded supply, limiting core business revenue growth to flat.
Financial highlights
Net sales fell to 385 MSEK from 480 MSEK year-over-year; organic growth was -20.4%.
Adjusted EBITDA margin dropped to 13.0% from 26.2% in Q1 2024.
Gross margin was 62.9%, nearly flat year-over-year, and improved 1.1 points sequentially.
Adjusted cash flow from operations was 76 MSEK, down year-over-year but above adjusted EBITDA.
Net cash position at quarter-end was 182 MSEK, stable versus December 2024.
Outlook and guidance
Management expects continued short-term revenue volatility in 2025 but remains confident in mid- to long-term growth.
Full synergy benefits from Astrea business and cost base adjustments expected from Q2 onwards.
Two key product launches planned: Plasmid preparation in Q2 and PFAS in Q3.
Focus remains on working capital optimization, cost control, and expanding the customer base.
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