BiBBInstruments (BIBB) Q4 2024 earnings summary

Executive summary

• Achieved key milestones in 2024, including CE-marking for all EndoDrill® variants and successful clinical evaluations at 8 university hospitals in Europe and the US.

• First commercial order for EndoDrill® GI received from UC Davis Health in the US in January 2025, marking the start of the commercial phase.

• Patent portfolio strengthened with approvals in India, Japan, China, and Europe, supporting global expansion.

• EndoDrill® GI and EBUS demonstrated 100% diagnostic accuracy in both Swedish and US clinical studies.

Financial highlights

• Net sales for 2024 were 0 KSEK, unchanged from 2023; no product revenue recognized yet.

• Operating loss for 2024 was -12,805 KSEK, compared to -11,160 KSEK in 2023.

• Result after financial items for 2024 was -12,708 KSEK, versus -10,969 KSEK in 2023.

• Cash and cash equivalents at year-end were 3,377 KSEK, down from 8,764 KSEK at the end of 2023.

• Equity at year-end was 28,379 KSEK, compared to 31,218 KSEK a year earlier.

Outlook and guidance

• 2025 focus on scaling production, signing distribution agreements, and launching EndoDrill® GI in new markets.

• Plans to start production and clinical pilot study for EndoDrill® EBUS, with US market launch targeted for 2026.

• Proceeds from recent rights issue and upcoming options program to fund commercial rollout and repay bridge loan.