Cardeon (CARDEO) Q4 2024 earnings summary

Executive summary

• Net sales for Q4 2024 increased to 1,763 KSEK from 1,046 KSEK year-over-year; full-year net sales rose to 5,580 KSEK from 3,578 KSEK.

• Operating loss for Q4 improved to -5,265 KSEK from -15,652 KSEK; full-year operating loss narrowed to -24,804 KSEK from -47,038 KSEK.

• Net result for Q4 was -7,472 KSEK (vs. -48,389 KSEK); full-year net result was -29,946 KSEK (vs. -78,648 KSEK).

• Portfolio companies achieved key milestones, including product launches, clinical study agreements, and strategic acquisitions.

Financial highlights

• Cash flow for Q4 was -1,158 KSEK (vs. -2,097 KSEK); full-year cash flow was -682 KSEK (vs. -1,038 KSEK).

• Cash and cash equivalents at year-end were 213 KSEK (vs. 895 KSEK).

• Equity ratio remained strong at 91% (unchanged year-over-year).

• Earnings per share for Q4 were -0.01 SEK (vs. -0.20 SEK); full-year EPS was -0.04 SEK (vs. -0.31 SEK).

• Market value of the listed portfolio declined by 35.5% for the year; Q4 decline was 3%.

Outlook and guidance

• Focus remains on early-stage investments in medtech and life science with high innovation and market potential.

• Commercialization of key portfolio products expected in coming years, notably Prolight's Psyros system in 2026.

• Dividend policy introduced for listed holdings; 51% of TEQCool shares distributed to shareholders.