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Hofseth BioCare (HBC) investor relations material
Hofseth BioCare Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 marked a period of operational progress and transition, with record production volumes at the Midsund plant and continued investments in process improvements and capacity expansion.
Despite challenging market conditions, the company maintained solid execution, improved gross margins, and advanced its R&D pipeline, supporting a long-term plan for sustainable profitability.
Financial highlights
Total operating revenue for Q3 2025 was NOK 54.9 million, down from NOK 67.9 million in Q3 2024, reflecting lower sales volumes and weaker commodity prices.
Gross margin improved to 35% from 28% year-over-year, driven by a shift toward higher-value specialty ingredients.
EBITDA was negative NOK 21.1 million (Q3 2024: -NOK 21.0 million); Operational EBITDA* improved slightly to -NOK 12.9 million (Q3 2024: -NOK 13.9 million).
Net financial items were positive NOK 2.3 million, compared to negative NOK 4.5 million in Q3 2024.
Profit before tax was negative NOK 28.3 million, an improvement from negative NOK 35.0 million in Q3 2024.
Cash flow from operations was positive NOK 1.3 million, compared to negative NOK 13.0 million in Q3 2024.
Cash and cash equivalents at quarter-end were NOK 65.5 million, with total liquidity (including credit facilities) at NOK 67.0 million.
Outlook and guidance
The medium-term outlook remains strong, with October already showing a noticeable pick-up in revenues.
The company expects normalization of commodity prices and continued growth in high-margin markets to benefit future quarters.
Upcoming tradeshows and customer feedback are anticipated to support conversion of scientific credibility and production scale into sustainable profitability.
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