Enzymatica (ENZY) Q1 2025 earnings summary

Executive summary

• Net sales increased 30.3% year-over-year to SEK 12.3 million in Q1 2025, driven by strong growth in Sweden and the UK.

• Operating loss narrowed slightly to SEK -18.0 million from SEK -18.4 million in Q1 2024.

• Cash position improved significantly, with net cash at SEK 64.7 million versus SEK -1.1 million a year ago.

• ColdZyme's clinical efficacy was validated by two independent studies, showing a 94% reduction in viral load and milder symptoms.

• Management is focused on international expansion and new partnerships, leveraging recent clinical results and MDR certification.

Financial highlights

• Net sales: SEK 12.3 million, up from SEK 9.4 million year-over-year.

• Gross margin stable at 69% (same as Q1 2024).

• Operating loss: SEK -18.0 million, slightly improved from SEK -18.4 million.

• Earnings per share: SEK -0.07, improved from SEK -0.11.

• Cash flow from operating activities: SEK -8.5 million, compared to SEK -7.3 million last year.

Outlook and guidance

• Management expects continued growth, supported by strong clinical evidence and new market opportunities.

• Financial target of achieving EBIT of at least SEK 170 million extended to end of 2027.

• Ongoing discussions with partners in China, Japan, and North America for further expansion.