Eevia Health (EEVIA) Q1 2025 earnings summary

Executive summary

• Net sales in Q1 2025 rose 78% sequentially to KEUR 467, but declined 30% year-over-year due to prior periodization effects; underlying sales trend is positive over six quarters.

• Strategic pivot to high-strength, proprietary extracts is gaining traction, with new long-term sales partnerships and increased interest from major global brands.

• Cost-cutting and organizational restructuring continued, with reduced personnel and operating expenses.

Financial highlights

• Gross profit in Q1 2025 was KEUR 276, up 87% from Q4 2024, but down 26% from Q1 2024; gross margin improved to 59% from 37% sequentially.

• EBITDA was KEUR -166 in Q1 2025, compared to KEUR -103 in Q1 2024; Q4 2024 EBITDA was positive due to one-time items.

• Net result after tax was KEUR -499 in Q1 2025, versus KEUR -387 in Q1 2024 and KEUR 119 in Q4 2024.

• Cash flow from operations was negative KEUR -434, compared to KEUR 4 in Q4 2024 and KEUR -253 in Q1 2024.

• Earnings per share for Q1 2025 was EUR -0.004, with shareholders' equity per share at EUR 0.02.

Outlook and guidance

• Management expects strong revenue growth in H2 2025 and 2026, targeting quarterly revenue of KEUR 900 and annual revenue of MEUR 3.6 for profitability.

• Short-term focus is on maintaining gross margin near 60%, further cost reductions, and leveraging new sales contracts.

• Achieving growth depends on successful private placement, national funding, and inventory reduction to free up cash.