)

Formycon (FYB) investor relations material
Formycon H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved key operational and regulatory milestones in H1 2025, including product launches, approvals in multiple regions, and a phase three waiver for a biosimilar, accelerating development and reducing costs.
Transitioned into a commercial company with two products on major global markets, focusing on pipeline execution, commercial growth, and maximizing asset value.
Strategic focus on biosimilars, innovation, and geographic diversification to drive sustainable profitability by 2026.
Issued a €70 million bond, significantly oversubscribed, strengthening liquidity for future growth.
Faced challenging US biosimilar market with slower-than-expected penetration and deeper price discounts, impacting revenue.
Financial highlights
H1 2025 revenue was €9.0 million, down from €26.9 million in H1 2024, mainly due to lower milestone, royalty, and deferred revenue, as well as US market challenges.
EBITDA for H1 2025 was €-17.9 million, compared to €-16.9 million in H1 2024; adjusted EBITDA was €-19.2 million (H1 2024: €-2.1 million), reflecting negative equity income from Bioeq AG.
Operational cost of sales for H1 2025 was €22.4 million, down from €25.0 million in H1 2024.
Cash and cash equivalents stood at €27.3 million as of June 30, 2025, excluding bond proceeds.
Equity ratio at 55.0% as of June 30, 2025.
Outlook and guidance
Full-year 2025 revenue expected between €55.0 million and €65.0 million, with most sales contributions anticipated in Q4.
EBITDA and adjusted EBITDA for 2025 forecasted between €-20.0 million and €-10.0 million.
Major revenue drivers in H2: upfront payments from licensing deals and increased royalties from key products.
Positive EBITDA targeted for 2026 or 2027, driven by product launches and pipeline progress.
Working capital guidance raised to €55.0–65.0 million, supported by bond proceeds.
Next Formycon earnings date

The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
)
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage