Katalysen Ventures (KAV) Q3 2025 earnings summary

Executive summary

• Achieved strategic milestones, including successful financing activities and portfolio expansion through the Venture Targeter model.

• Strengthened partnerships and launched new revenue-generating agreements, notably with Valega Chain Analytics.

• Core portfolio companies showed positive development, with QuTEM expanding in the U.S. and Invite People signing a major global client.

• Improved financial results, with a 25% better period result year-over-year, driven by efficiency and revenue growth.

• Enhanced investor relations with a new IR website and recurring events to engage stakeholders.

Financial highlights

• Net sales for Q3 2025 were SEK 0.4 million, up from SEK 0.0 million in Q3 2024.

• Group result for the period improved to -SEK 1.6 million from -SEK 2.2 million year-over-year.

• Estimated portfolio value increased by 4% to SEK 141 million compared to the previous period.

• Cash and cash equivalents at quarter-end were SEK 1.1 million, up from SEK 0.1 million a year earlier.

• Rights issue and directed share issue raised a total of SEK 8.5 million gross.

Outlook and guidance

• Several mature portfolio companies are positioned for potential exits in Q1 2026.

• Continued focus on new Venture Targeter transactions to broaden the portfolio and strengthen the medium-term pipeline.

• Expectation of ongoing growth in recurring revenue and further portfolio value creation.