Episurf Medical (EPIS) Q2 2025 earnings summary

Executive summary

• Adjusted EBIT for Q2 2025 improved by 33% to SEK -14.4m, a SEK 7.0m gain compared to Q2 2024, driven by restructuring and cost-saving measures.

• U.S. customer base more than doubled and order intake in the U.S. grew by 46% in H1 2025, reflecting strategic focus on this market.

• European distribution strengthened via partnership with Joint Operations, though transition led to temporary lower activity.

• Restructuring provision of SEK 3.1m booked in Q2; annual cost savings target of SEK 20.0m communicated.

Financial highlights

• Q2 2025 net sales were SEK 2.9m (Q2 2024: SEK 3.2m); H1 2025 net sales SEK 6.8m (H1 2024: SEK 6.2m).

• Loss for Q2 2025 was SEK -17.7m (Q2 2024: SEK -21.4m); H1 2025 loss SEK -34.3m (H1 2024: SEK -42.0m).

• EPS for Q2 2025 was SEK -0.03 (Q2 2024: SEK -0.07); H1 2025 EPS SEK -0.05 (H1 2024: SEK -0.13).

• Cash and cash equivalents at period end were SEK 15.8m (Q2 2024: SEK 86.7m).

• Equity ratio at 72.5% (Q2 2024: 88.1%).

Outlook and guidance

• Further cost savings planned, aiming to reduce cost base and improve financial position.

• Focus on U.S. market expansion and completion of FDA process for Episealer® MTP implant.

• Rights issue of up to SEK 29.4m announced to fund FDA process and commercialization efforts.