Inify Laboratories (INIFY) Q1 2025 earnings summary

Executive summary

• Revenue grew 130% year-over-year in Q1 2025, reaching SEK 5.1 million, driven by increased customer base and sample volumes.

• Expansion efforts advanced in the UK, with key personnel recruited and laboratory construction set to begin in May 2025.

• SEK 150 million raised via share issue in February 2025, strengthening cash position to SEK 151.1 million at quarter-end.

• Market share in Sweden increased, notably through a strategic agreement with Region Västmanland for prostate cancer diagnostics.

Financial highlights

• Net sales for Q1 2025 were SEK 5,122 thousand, up from SEK 2,229 thousand in Q1 2024.

• EBITDA for Q1 2025 was SEK -14,494 thousand, compared to SEK -11,337 thousand in Q1 2024.

• Net result for Q1 2025 was SEK -15,384 thousand, versus SEK -11,907 thousand in Q1 2024.

• Cash and bank balances at March 31, 2025 totaled SEK 151.1 million, up from SEK 59.2 million a year earlier.

• Equity at period end was SEK 159.7 million, with an equity ratio of 93.7%.

Outlook and guidance

• Continued growth expected in Sweden and internationally, with UK laboratory to open by end of 2025.

• Ongoing development of gastrointestinal diagnostics, with first samples anticipated after summer 2025.

• Management anticipates further improvement in financial results as sample volumes increase.