Bioextrax (BIOEX) Q1 2025 earnings summary

Executive summary

• Net sales reached 79 tkr in Q1 2025, up from 0 tkr in Q1 2024, reflecting initial commercialization of technology.

• Operating loss improved to -3,989 tkr from -4,890 tkr year-over-year, with lower personnel and external costs.

• Strategic focus on market expansion and customer engagement, with several key customer projects advancing.

• Signed MoU with a leading European engineering firm for global, non-exclusive sales of feather protein technology.

• Extended Letter of Intent with a top-3 global chemical company, targeting long-term agreement for PHA in personal care.

Financial highlights

• Net sales: 79 tkr (0 tkr Q1 2024); other operating income: 62 tkr (203 tkr Q1 2024).

• Operating expenses: 4,130 tkr (5,093 tkr Q1 2024); personnel costs: 2,432 tkr (2,996 tkr Q1 2024).

• Operating result: -3,989 tkr (-4,890 tkr Q1 2024); net result: -3,987 tkr (-4,872 tkr Q1 2024).

• Cash flow for the period: -5,132 tkr (-5,727 tkr Q1 2024); cash at period end: 12,135 tkr (7,672 tkr Q1 2024).

• Equity per share: 0.56 SEK (0.54 SEK Q1 2024); equity ratio: 92.69% (96.07% Q1 2024).

Outlook and guidance

• Board assesses liquidity as sufficient for the next 12 months following a fully subscribed rights issue of ~14.5 MSEK.

• Continued commercialization efforts with new and existing partners expected to drive revenue growth.