Biovica International (BIOVIC) Q4 25/26 earnings summary

Executive summary

• Achieved strong growth in Q4 and full year, with net sales up 107% in Q4 and 55% for the year compared to prior periods.

• Expanded clinical evidence for DiviTum TKa, especially in metastatic breast cancer and immunotherapy settings.

• Transitioned to a new CEO, Theis Kipling, effective May 2026, with a focus on commercial efficiency and financial discipline.

• Initiated a strategic shift to prioritize US and Pharma Services markets, terminating EU distribution contracts.

Financial highlights

• Q4 net sales: SEK 4,815k (up 107% YoY); full year net sales: SEK 13,380k (up 55% YoY).

• Q4 operating loss: SEK -18,043k; full year operating loss: SEK -70,119k (improved from -85,839k YoY).

• Cash and cash equivalents at year-end: SEK 70,412k (up from SEK 24,415k YoY).

• Cash flow from operating activities: SEK -62,807k for the year (improved from -85,367k YoY).

• Equity ratio improved to 80% from 67% YoY.

Outlook and guidance

• Focus on accelerating adoption of DiviTum TKa, expanding US market presence, and deepening Pharma Services partnerships.

• Emphasis on financial discipline, cost control, and resource allocation to high-value opportunities.

• Board assesses sufficient liquidity for at least the next 12 months based on current forecasts.