Episurf Medical (EPIS) Q3 2025 earnings summary

Executive summary

• Achieved strong US growth in gross order intake (up 60%) and customer base (up 111%) year-over-year in Q3 2025.

• Significant improvement in financial results, with Q3 loss reduced to SEK -10.4m from SEK -15.9m year-over-year.

• Continued focus on achieving FDA clearance for the Episealer® MTP toe implant, with a clear regulatory plan in place.

• European business fully transitioned to a distributor model, with ongoing efforts to improve sales through partners.

Financial highlights

• Q3 2025 gross order intake: SEK 4.0m (up from SEK 3.7m in Q3 2024); net sales: SEK 3.2m (down from SEK 3.4m).

• Loss for Q3 2025: SEK -10.4m (improved from SEK -15.9m); EPS: SEK -0.01 (from SEK -0.02).

• First nine months 2025: gross order intake SEK 11.4m (up from SEK 9.9m); net sales SEK 10.0m (up from SEK 9.6m).

• Loss for first nine months: SEK -44.7m (improved from SEK -57.9m); EPS: SEK -0.06 (from SEK -0.14).

• Cash and cash equivalents at period end: SEK 21.7m (down from SEK 66.8m year-over-year).

Outlook and guidance

• Targeting FDA clearance for Episealer® MTP before year-end, though US government shutdowns may impact timeline.

• Continued focus on US market expansion and cost-saving initiatives.

• Board assesses good conditions to secure future financing, but additional funding is required within 12 months.