NanoEcho (NANECH) Q4 2025 earnings summary

Executive summary

• Focused on advancing clinical validation and commercialization of a novel diagnostic system for rectal cancer, aiming to improve patient outcomes and reduce unnecessary surgeries.

• Achieved first commercial sale to Lund University, marking initial revenue and a key reference for future expansion.

• Completed key clinical milestones, including a successful dose confirmation study and system adaptations for clinical use.

• Secured all regulatory and ethical approvals for the upcoming Proof of Concept (PoC) study.

• Maintained strict cost control and extended financial runway through efficiency measures and capital raises.

Financial highlights

• Q4 2025 net sales: 0 TSEK (0 TSEK Q4 2024); full year: 488 TSEK (0 TSEK 2024), reflecting first system sale.

• Net loss after tax: -3,803 TSEK in Q4 (-3,509 TSEK Q4 2024); full year: -15,654 TSEK (-15,146 TSEK 2024).

• Cash flow from operations: -2,643 TSEK in Q4 (-1,587 TSEK Q4 2024); full year: -16,163 TSEK (-14,602 TSEK 2024).

• Cash and cash equivalents at year-end: 2,127 TSEK (14,651 TSEK prior year).

• Equity ratio at year-end: 80% (56% prior year).

Outlook and guidance

• PoC study initiated in early 2026, with results to inform future registration studies and market approval.

• Ongoing efforts to secure additional funding via a rights issue and EIC Accelerator grant application.

• Targeting market approval submission by 2029, contingent on successful clinical milestones and financing.