Bio-Gate (BIG1) H2 2025 earnings summary

Executive summary

• Revenue increased by 4.9% year-over-year to €7.4 million, driven by expanded production capacity and higher value creation, especially in the second half of the year.

• EBITDA loss improved by 31.3% to -€896k, and net loss narrowed by 28.2% to -€1.17 million compared to the previous year.

• Growth was led by strong performance in the veterinary segment, particularly in North America, offsetting declines in derma-cosmetics and wound care.

• Key strategic drivers include human medical technology, internationalization, and innovation in implant coatings and wound care products.

Financial highlights

• Revenue: €7.4 million (up 4.9% year-over-year); EBITDA: -€896k (improved from -€1.3 million); EBIT: -€1.13 million (improved from -€1.61 million); Net loss: -€1.17 million (improved from -€1.62 million).

• Earnings per share: -€0.12 (vs. -€0.18 prior year); equity ratio: 34.3% (down from 45.3%).

• Cash and cash equivalents increased to €705k (from €297k); operating cash flow improved to -€1.01 million (from -€1.22 million).

• Marked improvement in material cost ratio (39.5% vs. 43.6%) and higher personnel expenses due to increased headcount.

• Market capitalization rose to €8.2 million, supported by capital measures.

Outlook and guidance

• Management expects 2026 revenue to remain at 2025 levels within a +/-7% range, with further improvement in EBITDA and net result, assuming no major project delays.

• Medium- and long-term prospects remain promising, with a focus on profitable growth through increased productivity and value creation.