DexTech Medical (DEX) Q4 24/25 earnings summary

Executive summary

• No net sales were recorded for the year or quarter; operations focused on R&D and clinical trials.

• Operating loss for the year was SEK -5.3 million, slightly improved from SEK -5.5 million year-over-year.

• Cash and cash equivalents at year-end were SEK 14.7 million, down from SEK 19.0 million.

• The ongoing myeloma Phase 1 study showed 67% of patients achieved stable disease, with no significant side effects.

• European patent granted for GMP manufacture of OsteoDex, supporting future market exclusivity.

Financial highlights

• Net sales: SEK 0.0 million for both the quarter and full year, unchanged year-over-year.

• Operating profit: SEK -1.6 million for Q4, SEK -5.3 million for the year, both slightly improved from prior periods.

• Earnings per share: SEK -0.08 for Q4, SEK -0.26 for the year, marginally lower than last year.

• Cash flow for the year: SEK -4.3 million, improved from SEK -6.2 million prior year.

• Equity at year-end: SEK 24.8 million, equity/assets ratio 99%.

Outlook and guidance

• Operations are financed until Q4 2026 due to reduced costs and previous rights issue.

• The ongoing myeloma Phase 1 study is expected to complete in Q4 2025.

• License revenues are targeted to finance operations beyond 2026.

• Continued focus on out-licensing drug candidates after phase II studies.