Carbiotix (CRBX) Q4 2024 earnings summary

Executive summary

• Strategic focus shifted fully to NutraCycle service in 2024, establishing a platform for long-term growth.

• Number of customer projects doubled from 16 to 32 in Q4, including first project in Asia and several with major global food companies.

• Priority for 2025 is to secure the first licensing agreement and accelerate customer projects to pilot and licensing phases.

• Organization strengthened with key hires, including a new Chief Production Officer.

Financial highlights

• Q4 2024 net sales: 110,888 SEK (down from 298,388 SEK in Q4 2023).

• Q4 2024 result after financial items: -3,579,092 SEK (improved from -4,259,567 SEK in Q4 2023).

• Full-year 2024 net sales: 978,908 SEK (down from 1,465,518 SEK in 2023).

• Full-year 2024 result after financial items: -16,131,191 SEK (worse than -13,479,195 SEK in 2023).

• Cash and cash equivalents at year-end: 1,261,170 SEK (down from 2,659,384 SEK at end of 2023).

Outlook and guidance

• 2025 focus on signing first license agreement and advancing existing customers to pilot and licensing stages.

• Recent directed share issue of up to 3.92 MSEK to accelerate sales and marketing activities.

• Aim to establish Carbiotix as a key partner for companies seeking circular solutions.