Insplorion (INSP) Q3 2025 earnings summary

Executive summary

• Net sales for Q3 2025 increased to SEK 926k from SEK 490k year-over-year, reflecting commercial progress in hydrogen sensors and research instruments.

• Loss after financial items narrowed to SEK -3,133k from SEK -3,459k year-over-year, aided by lower operational costs as hydrogen product development nears completion.

• Strategic review initiated following management changes and a more cautious market environment; focus remains on marine and hydrogen applications.

Financial highlights

• Net sales for the quarter: SEK 926k (Q3 2024: SEK 490k); nine months: SEK 1,580k (2024: SEK 1,601k).

• Profit after financial items: SEK -3,133k (Q3 2024: SEK -3,459k); nine months: SEK -12,586k (2024: SEK -12,994k).

• Earnings per share: SEK -0.04 (Q3 2024: SEK -0.15); nine months: SEK -0.21 (2024: SEK -0.57).

• Cash flow from operating and investing activities: SEK -3,990k (Q3 2024: SEK -4,884k); cash and cash equivalents at period end: SEK 7,271k (2024: SEK 1,221k).

Outlook and guidance

• Market for hydrogen projects is maturing, with global project growth slowing to 10% in 2025 from 50% in prior years.

• Focus on application areas with concrete demand, especially marine segment; ongoing ATEX certification expected to enable large-scale production.