BiBBInstruments (BIBB) Q4 2025 earnings summary

Executive summary

• 2025 marked a pivotal year, transitioning from clinical validation to commercial launch of EndoDrill® GI in the US with TaeWoong Medical USA, establishing first paying reference hospitals and scaling production for broader expansion in 2026.

• Early sales signals included initial orders from UC Davis Health and further orders from TaeWoong, totaling approximately 401 KSEK in annual sales, with clinical presence and scientific support strengthened through studies and congress presentations.

• The company secured additional patents in the US, China, and Japan, and achieved CE marking for the entire EndoDrill® family and FDA approval for EndoDrill® GI, reinforcing regulatory and commercial readiness.

• Financially, a rights issue in January raised about 27.6 MSEK, and option exercises added further capital, enabling the US launch, production scale-up, and product portfolio development.

• Focus for 2026 is on supporting a broader US launch, establishing a European distribution partnership, and expanding the EndoDrill® platform, particularly for lung cancer diagnostics.

Financial highlights

• Q4 2025 net sales reached 253 KSEK (0 KSEK in Q4 2024); full-year net sales were 401 KSEK (0 KSEK in 2024).

• Q4 result after financial items was -5,071 KSEK (-3,756 KSEK in Q4 2024); full-year result after financial items was -14,610 KSEK (-12,708 KSEK in 2024).

• Earnings per share for Q4 was -0.12 SEK (-0.13 SEK in Q4 2024); for the year, -0.37 SEK (-0.45 SEK in 2024).

• Cash and cash equivalents at year-end were 6,166 KSEK (3,377 KSEK in 2024); equity ratio was 93.6% (84.1% in 2024).

• Total assets at year-end were 40,203 KSEK (33,728 KSEK in 2024).

Outlook and guidance

• No sales forecasts are provided at this early commercialization stage, but the direction is clear with significant sales potential for EndoDrill® GI.

• 2026 will focus on broadening the US launch, entering the European market, and launching EndoDrill® EBUS for lung cancer, with clinical product release and FDA 510(k) submission planned.

• A rights issue of approximately 60 MSEK is planned for early 2026 to fund continued commercialization and product development.