Nanologica (NICA) Q1 2025 earnings summary

Executive summary

• Achieved record quarterly net sales of SEK 10.8 million in Q1 2025, mainly from silica media NLAB SagaⓇ, driven by strong demand from pharmaceutical manufacturers, especially in China.

• Operating loss narrowed to SEK 9.2 million from SEK 15.3 million year-over-year, reflecting higher sales and strict cost control.

• Loss after tax improved to SEK 10.2 million from SEK 16.7 million year-over-year; EPS was SEK -0.12 compared to SEK -0.46.

• Cash and cash equivalents increased to SEK 28.3 million at quarter-end, with an additional SEK 7 million received shortly after the period.

• Production process improvements and increased output expected to support further sales growth in 2025.

Financial highlights

• Net sales rose 114% year-over-year to SEK 10.8 million, with preparative chromatography accounting for SEK 10.1 million.

• Operating loss reduced to SEK 9.2 million from SEK 15.3 million year-over-year, aided by a SEK 2.4 million reversal of previous inventory impairment.

• Cash flow from operating activities was SEK -19.2 million, compared to SEK -8.7 million year-over-year.

• Equity increased to SEK 63.9 million from SEK 11.1 million year-over-year; equity/asset ratio improved to 51% from 10%.

• Inventories decreased to SEK 28.6 million from SEK 32.7 million at year-end, mainly due to deliveries against orders.

Outlook and guidance

• Management expects continued strong sales growth in 2025, with sales likely to fluctuate between quarters.

• Anticipates significant sales growth in the second half of 2025, supported by increased production capacity and strong global demand for GLP-1 and insulin purification products.

• Launch of new product NLAB® Idun planned for the second half of 2025 following successful customer evaluations.