Enorama Pharma (ERMA) Q3 2024 earnings summary

Executive summary

• Net sales for January–September 2024 reached 13,127 KSEK, up from 1,186 KSEK year-over-year, driven by pouch sales in the US via Premier Manufacturing.

• Operating loss for the nine months improved to -20,842 KSEK from -30,960 KSEK year-over-year.

• Strategic production shift from TJP Labs to Habit Factory improved quality and flexibility, supporting future growth.

• The company is exploring divestment of its nicotine gum business and has entered new distribution and supply agreements.

Financial highlights

• Q3 net sales increased 32.27% sequentially to 7,481 KSEK from 5,656 KSEK in Q2 2024.

• Q3 operating loss was -4,476 KSEK, an improvement from -6,340 KSEK in Q2.

• Net loss per share for Q3 was -0.12 SEK; for the nine months, -0.36 SEK, compared to -0.83 SEK year-over-year.

• Cash flow for the nine months was 3,210 KSEK, with cash and equivalents at 9,617 KSEK as of September 30, 2024.

• Equity as of September 30, 2024, was 33,716 KSEK, up from 19,691 KSEK a year earlier.

Outlook and guidance

• With production stabilized at Habit Factory, the company expects to meet US market demand and drive growth from year-end.

• Focus remains on expanding the NIC-S brand in the US and leveraging new partnerships.