Cyclezyme (CYCLE) Q3 2025 earnings summary

Executive summary

• Achieved significant milestones including the granting of a first European patent, validating the uniqueness of the enzymatic depolymerization process for polyester plastics.

• Secured funding with RISE Processum to scale up recycling technology, aiming for industrial demonstration and climate impact analysis.

• Completed a successful feasibility study with a leading European recycling partner, confirming the technology's industrial competitiveness.

• Installed new bioreactors, enabling larger-scale enzyme production and customer project support.

• Signed a license agreement for a bio-based specialty product in the personal care sector, expanding application areas.

Financial highlights

• Net sales for Q3 2025 were 0 KSEK (0), and for Jan–Sep 2025, 150 KSEK (0) year-over-year.

• Operating loss for Q3 2025 was -434 KSEK (-434), and for Jan–Sep 2025, -1,452 KSEK (-1,464) year-over-year.

• Net loss after tax for Jan–Sep 2025 was -1,485 KSEK (-1,510) year-over-year.

• Cash flow for Jan–Sep 2025 was 23 KSEK (-2,744) year-over-year; cash and cash equivalents at period end were 2,243 KSEK (3,059).

• Equity per share at period end was 2.51 SEK (2.22 at Dec 2024); equity ratio was 86.2% (81.8% at Dec 2024).

Outlook and guidance

• Liquidity is considered sufficient for the next 12 months, supported by the April 2025 share issue and potential additional funding from warrants.

• Ongoing industrial scale-up and commercialization efforts are expected to drive future growth.