Bioextrax (BIOEX) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 were SEK 223k, down from SEK 275k year-over-year; operating loss improved to SEK -3,747k from SEK -5,513k.

• For Jan–Sep 2024, net sales were SEK 393k (1,246k), operating loss SEK -13,451k (-15,278k), and EPS -0.42 SEK (-0.60 SEK).

• Cash flow for Jan–Sep was SEK -4,375k, with cash and cash equivalents at SEK 9,024k as of September 30, 2024.

• Major licensing and development agreements signed with global chemical and confectionery companies; new capital raised via rights issues.

Financial highlights

• Q3 2024 net sales: SEK 223k (275k); Jan–Sep: SEK 393k (1,246k).

• Q3 operating loss: SEK -3,747k (-5,513k); Jan–Sep: SEK -13,451k (-15,278k).

• Q3 EPS: -0.11 SEK (-0.21); Jan–Sep EPS: -0.42 SEK (-0.60).

• Cash flow Jan–Sep: SEK -4,375k (-9,007k); cash at period end: SEK 9,024k (18,525k).

• Equity per share: 0.46 SEK (0.92); equity ratio: 88.2% (94.6%).

Outlook and guidance

• Ongoing commercialization efforts with Chematur and a top-3 global chemical company; multiple customer tests underway with potential for new licensing deals.

• Management expects current liquidity, post-rights issue, to fund operations for the next 12 months.