Inify Laboratories (INIFY) Q2 2025 earnings summary

Executive summary

• Achieved 54% sales growth in Q2 2025 and 83% in H1 2025 year-over-year, driven by increased customer base and volumes in Sweden.

• First UK patient case diagnosed and lease signed for a new UK laboratory, marking international expansion.

• Maintained dominant market share in Stockholm and expanded services to Region Västmanland, with ongoing discussions for further regional growth.

• UK subsidiary accepted onto Health Trust Europe framework, facilitating NHS procurement.

Financial highlights

• Q2 2025 net sales reached SEK 5,603 thousand, up from SEK 3,614 thousand in Q2 2024.

• EBITDA for Q2 2025 was SEK -16,634 thousand, compared to SEK -12,914 thousand in Q2 2024.

• Net result for Q2 2025 was SEK -17,177 thousand, versus SEK -13,582 thousand in Q2 2024.

• Equity ratio improved to 92.1% at June 30, 2025, from 85.4% a year earlier.

• Cash and bank balances at period end were SEK 129.7 million, up from SEK 46.1 million at June 30, 2024.

Outlook and guidance

• Anticipates further evaluation agreements in the UK in H2 2025 and expects the new UK laboratory to be operational in Q1 2026.

• Confident in continued growth in Sweden and successful expansion into gastrointestinal diagnostics.

• Ongoing investment in system development and organizational growth to support future scalability.