Cyclezyme (CYCLE) Q2 2025 earnings summary

Executive summary

• Achieved first paid optimization phase in a feasibility study with a leading European recycling player, marking a step toward commercialization.

• Received official notice that the first European patent will be granted for its unique microwave-accelerated enzymatic PET recycling technology.

• Demonstrated ability to break down PET microplastics, opening new applications in water and soil purification.

• Continued strong interest from industry for recycling complex plastic streams, with ongoing collaborative projects progressing as planned.

Financial highlights

• Net sales for Q2 2025 were 0 KSEK (0), and for Jan–Jun 2025, 150 KSEK (0).

• Operating loss for Q2 2025 was -671 KSEK (-620), and for Jan–Jun 2025, -1,018 KSEK (-1,030).

• Net result per share for Q2 2025 was -0.28 SEK (-0.30), and for Jan–Jun 2025, -0.46 SEK (-0.50).

• Cash flow for Jan–Jun 2025 was 1,084 KSEK (-1,773), with cash and cash equivalents at 3,304 KSEK as of June 30, 2025.

• Equity per share at June 30, 2025, was 2.69 SEK (2.22 at Dec 31, 2024), with an equity ratio of 84.8% (81.8%).

Outlook and guidance

• Sufficient liquidity secured for at least the next 12 months following the April 2025 share issue and potential additional capital from warrants.

• Focus for autumn 2025 is on deepening customer dialogues, conducting more real-material tests, and identifying new application areas.

• Preparing for future licensing both in Europe and internationally.