Inify Laboratories (INIFY) Q4 2025 earnings summary

Executive summary

• Net sales increased by 33% in Q4 2025 year-over-year, reaching SEK 6.3 million, and by 62% for the full year to SEK 22.2 million, driven by growing customer base and higher sample volumes.

• Expansion into gastrointestinal diagnostics in Sweden and ongoing establishment of a new laboratory in the UK, with operations expected to start in early 2026.

• Over 5,000 patient cases diagnosed since the Swedish lab opened in June 2023, with all cases delivered within five working days.

• Fully guaranteed NOK 100 million share issue initiated to support UK expansion and provide financial stability.

Financial highlights

• Q4 2025 net sales: SEK 6.3 million (Q4 2024: SEK 4.8 million); full year 2025: SEK 22.2 million (2024: SEK 13.7 million).

• EBITDA for Q4 2025: SEK -19.9 million (Q4 2024: SEK -13.1 million); full year 2025: SEK -64.8 million (2024: SEK -48.4 million).

• Net result for Q4 2025: SEK -20.7 million (Q4 2024: SEK -14.2 million); full year 2025: SEK -67.9 million (2024: SEK -51.6 million).

• Cash at period end: SEK 57.5 million (2024: SEK 22.7 million); equity ratio: 76.4% (2024: 77.9%).

Outlook and guidance

• Anticipates gradual growth in gastrointestinal diagnostics sample volumes and sales in Sweden.

• UK laboratory installation and regulatory approval expected to complete in early 2026, with initial focus on prostate cancer diagnostics.

• Ongoing market activities and customer dialogues in both Sweden and the UK, with optimism for further growth.