Audientes (AUDNTS) Q2 2025 earnings summary

Executive summary

• Focused on self-fitting hearing solutions and advanced hearables, targeting affordable, high-quality products for moderate to profound hearing loss and underserved populations.

• Scaling product sales and software licensing globally, with commercial progress and new partnerships in China, India, MENA, Japan, and Europe.

• Strategic partnerships and new orders in India, Middle East, and Asia set the stage for revenue growth in H2 2025.

• Negative EBITDA and net loss in Q2/H1 2025, with cash position and equity under pressure.

• Delays in Q2 sales shifted revenue recognition to Q3, impacting cash flow and liquidity.

Financial highlights

• Q2 2025 revenue was TDKK 4 (H1: TDKK 84), with expected sales inflows delayed to H2; a significant $800,000 (DKK 0.8 million) order will be recognized in Q3.

• Q2 2025 EBITDA was negative TDKK -1,520 (H1: TDKK -3,127); net loss TDKK -3,282 in Q2 (H1: TDKK -6,293).

• Equity at end Q2 2025 was negative DKK 1.2 million, with an equity ratio of -18.6%.

• Cash and cash equivalents at June 30, 2025, were TDKK 7.

• $214,000 in other operating income recognized from prior grant funding, allocated monthly to R&D costs.

Outlook and guidance

• Management expects H2 2025 to be a turning point, with new orders in India and MENA, and e-commerce expansion in Europe and Japan.

• Revenue inflection expected in H2 2025 as delayed Q2 sales materialize in Q3.

• Targeting month-by-month cash flow positivity in H2 2026 and break-even by 2026, contingent on successful funding and commercialization.

• Additional working capital likely required in late 2026, with preference for non-dilutive funding.

• Ongoing focus on leveraging partnerships and expanding licensing and e-commerce business.