Cyclezyme (CYCLE) Q1 2025 earnings summary

Executive summary

• Achieved net sales of 150 KSEK in Q1 2025, driven by a paid feasibility study for PET recycling enzyme technology.

• Entered strategic collaborations with RISE and a major European recycling company to scale up enzyme production and optimize PET recycling processes.

• Successfully completed a directed share issue of 3 MSEK, with potential for an additional 1.8 MSEK via warrants, securing financial stability for up to 24 months.

• Positive test results in new application areas, including polyester-based construction materials, expanding market potential.

• Patent-pending enzyme technology demonstrated threefold efficiency over current alternatives and enables cost-effective, large-scale production.

Financial highlights

• Net sales reached 150 KSEK in Q1 2025, compared to 0 KSEK in Q1 2024.

• Operating loss improved to -347 KSEK from -410 KSEK year-over-year.

• Net loss after tax was -359 KSEK, compared to -425 KSEK in Q1 2024.

• Cash flow for the period was -855 KSEK, an improvement from -1,030 KSEK in Q1 2024.

• Cash and cash equivalents at March 31, 2025, were 1,365 KSEK, down from 2,220 KSEK at year-end 2024.

Outlook and guidance

• EU regulations require at least 25% recycled content in PET bottles from 2025, driving demand for enzymatic recycling solutions.

• Cyclezyme is positioned to benefit from regulatory tailwinds and growing market interest in sustainable plastic recycling.

• The company expects continued development of partnerships and commercial contacts, with a focus on scaling and licensing its enzyme platform.