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Edge12 Dec 2025
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Biotage (BIOT) investor relations material
Biotage has been delisted
Biotage Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2025 earnings summary23 Apr, 2025
Executive summary
Q1 2025 revenue was SEK 385 million, down 19.9% year-over-year, mainly due to bioprocessing volatility and zero plasma revenue, while non-plasma and small molecules revenue grew 3% each; China returned to growth with a 16% increase.
Gross margin was stable at 62.9% (up 1.1 points sequentially), with bioprocessing gross margin at 73.5% and core business gross margin at 61.7%, both improving sequentially.
Adjusted EBITDA was SEK 50 million, down 60% year-over-year, with an adjusted EBITDA margin of 13.0%.
37 new customers were added in early-phase drug discovery, with over 220 new customers added in the past two years.
Demand for peptide systems exceeded manufacturing capacity, resulting in a SEK 20 million backlog.
Financial highlights
Net sales were SEK 385 million, down from SEK 480 million year-over-year; organic growth was -20.4%.
Adjusted OPEX was SEK 224 million, down from SEK 227 million in Q1 2024.
Operating profit (EBIT) was SEK -12 million, down from SEK 67 million; operating margin at -3.1%.
Adjusted cash flow from operations was SEK 76 million, down 56% year-over-year.
Ended the quarter with gross cash of SEK 434 million and net cash of SEK 182 million.
Outlook and guidance
Management expects continued short-term volatility in 2025 but remains confident in mid- to long-term growth.
Cost base right-sizing and integration actions are expected to benefit results from Q2 onwards.
Two key product launches planned: Plasmid preparation in Q2 and PFAS in Q3.
Strategic focus on expanding customer base and accelerating market reach for peptide systems.
Assess Bioprocessing cost streamlining impact.
Explain analytical testing slowdown drivers.
How does peptide supply impact revenue growth?
What are the alternative paths for peptide capacity?
How will new customers reduce Bioprocessing volatility?
Bioprocessing: Resins/Columns revenue by customer stage?
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Frequently asked questions
Biotage AB provides separation technologies in the areas of organic and analytical chemistry, biomolecules, and industrial scale up applications. Its products include flash chromatography for purifying compounds or isolating natural products; microwave reactors for synthesis processes; Piranha and Polar Solvents for acid, base or mixtures, preparing samples for analysis or extraction; and TurboVap evaporators for removing solvents from sample preparations, extractions or syntheses. Biotage AB was founded in 1969 and is headquartered in Uppsala, Sweden.
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