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Camurus (CAMX) investor relations material
Camurus Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved record Q2 2025 revenues of SEK 676 million, up 52% year-over-year, and profit before tax of SEK 307 million, up 195% year-over-year.
Cash position strengthened to SEK 3.3 billion at quarter-end, a 30% increase year-over-year, supporting expansion and R&D investments.
Entered a strategic license agreement with Eli Lilly for long-acting incretins, with up to USD 870 million in milestones and royalties.
EU approval of Oczyesa (CAM2029) for acromegaly and positive results from key clinical studies, including polycystic liver disease.
Buvidal and Brixadi drove growth, with market share gains and expansion into new regions.
Financial highlights
Q2 2025 revenues: SEK 676 million (+52% year-over-year); H1 2025: SEK 1,234 million (+48%).
Profit before tax for Q2: SEK 307 million (+195%); margin at 45.4%.
Earnings per share after dilution for Q2: SEK 4.08; profit after tax: SEK 245 million.
Gross margin for Q2: 93.9%, up 106 bps year-over-year.
Cash flow from operating activities in Q2: SEK 376 million; cash position at quarter-end: SEK 3.35 billion.
Outlook and guidance
2025 guidance maintained: total revenues SEK 2.7–3.0 billion (+45–61% vs. 2024), profit before tax SEK 0.9–1.2 billion (+63–117%).
Growth expected in H2, with Buvidal and Brixadi benefiting from improved funding and market access.
Continued investments in R&D and US operations, including SEK 0.35 billion for global CAM2029 launch.
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