Cyclezyme (CYCLE) Q3 2026 earnings summary

Executive summary

• Q3 marked expansion of enzymatic recycling capacity and entry into biomimetic melanin through an acquired patent and newly established subsidiary.

• Rising customer inquiries and international business discussions are prompting larger-scale testing, while commercialization remains in development.

Financial highlights

• Q3 revenue was SEK 110K vs. zero; total operating income was SEK 1,003K vs. SEK 460K, including grants and capitalized development costs.

• Q3 operating loss was SEK 684K vs. SEK 434K; net loss was SEK 691K vs. SEK 444K and EPS was SEK -0.25 vs. SEK -0.18.

• 9M revenue was SEK 110K vs. SEK 150K; operating loss was SEK 2,244K vs. SEK 1,452K and net loss was SEK 2,267K vs. SEK 1,485K.

• 9M total income rose to SEK 2,518K from SEK 1,471K, mainly reflecting capitalized development and patent costs plus SEK 540K in grants.

Outlook and guidance

• Management assessed July’s share issue as sufficient to fund planned operations for at least the next 12 months.

• Priorities include scale-up tests, deeper industrial collaborations and technical validation to advance enzymatic recycling toward commercialization.

• Melanin received paid feasibility-study orders after quarter-end; several international partnership discussions across personal care and biotech applications remain at different stages.

• Management sees opportunities to advance enzymatic-technology discussions toward potential international collaborations and commercial deals over the next six months.