Audientes (AUDNTS) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue reached TDKK 80, up from TDKK 15 in Q1 2024, but still below commercial targets as the company builds momentum in key markets.

• Strategic focus on commercialization, e-commerce, and expanding global market presence, especially in Europe, China, India, Japan, and MENA.

• Transitioning from a product-focused to a software platform, licensing, and OEM business model, with first licensee in China and ongoing OEM dialogues in Japan and Europe.

• Capitalization efforts included DKK 2.2 million raised via share issuance, loan, and debt conversion; further funding initiatives underway.

• Management remains confident in reestablishing equity and achieving long-term growth through upcoming financing and commercial scaling.

Financial highlights

• Q1 2025 revenue from product sales was approximately DKK 80,000, up from DKK 15,000 in Q1 2024, but below expectations due to revenue recognition practices.

• EBITDA was more negative year-over-year, attributed to increased investments in marketing and investor relations.

• Net loss for Q1 2025 was TDKK -3,011, compared to TDKK -2,601 in Q1 2024.

• Cash and cash equivalents at quarter-end were TDKK 4, with an equity ratio of 6.1%.

• Free cash flow for Q1 2025 was TDKK -465, an improvement from TDKK -605 in Q1 2024.

Outlook and guidance

• Targeting cash flow breakeven in the second half of 2026, supported by a planned DKK 15 million corporate bond issuance in June 2025.

• Plans to invest bond proceeds into marketing and sales to accelerate commercialization.

• Focus on accelerating e-commerce, expanding licensing/OEM models, and scaling in Europe, Japan, and Asia.

• Expects negative EBITDA for 2025, with a goal of achieving positive monthly EBITDA by late 2026.

• Anticipates additional working capital needs in late 2026, ideally through non-dilutive financing.