Carbiotix (CRBX) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 were SEK 0, down from SEK 600,167 in Q1 2024, reflecting a strategic shift and phase-out of LinkGut customers.

• Net loss after financial items was SEK -3,927,147, a slight improvement from SEK -3,992,633 year-over-year.

• Signed first Letter of Intent for a NutraCycle license agreement with a leading Nordic plant-based dairy producer.

• Added 15 new customer projects, totaling 47 active projects, including first in South America.

• Two directed share issues raised up to SEK 3.92M in January and SEK 4.64M in April (post-period), strengthening liquidity.

Financial highlights

• Operating loss for Q1 2025 was SEK -3,927,260, compared to SEK -3,855,681 in Q1 2024.

• Cash and cash equivalents at March 31, 2025, were SEK 922,555, down from SEK 7,285,192 a year earlier.

• Equity ratio improved to 92% from 90% year-over-year.

• Cash flow from operating activities was SEK -3,734,322, compared to SEK -4,108,581 in Q1 2024.

• Number of shares at period end: 4,178,033 (27,034,019 in Q1 2024, reflecting share consolidation or other capital changes).

Outlook and guidance

• Management expects increased revenues for the remainder of 2025 as the company transitions customer projects to paying license agreements.

• Focus remains on accelerating growth in customer projects and converting them into profitable license deals.