Nanologica (NICA) Q2 2025 earnings summary

Executive summary

• Net sales for Q2 2025 were SEK 2.3 million, up slightly year-over-year, with H1 sales at SEK 13.1 million, a significant increase from H1 2024.

• Operating loss for Q2 was SEK -10.8 million, with a net loss before tax of SEK -12.3 million; both metrics worsened compared to Q2 2024.

• Cash and cash equivalents at June 30, 2025, were SEK 26.4 million, up from SEK 15.1 million a year earlier.

• First US order for NLAB Saga® and a major order from a new Chinese customer were secured, both for production-scale evaluation.

• Production improvements and commissioning of new equipment are expected to increase product volumes in H2 2025.

Financial highlights

• Net sales for Q2 2025: SEK 2,335 thousand (Q2 2024: SEK 2,174 thousand); H1 2025: SEK 13,087 thousand (H1 2024: SEK 7,211 thousand).

• Operating loss Q2 2025: SEK -10,763 thousand (Q2 2024: SEK -9,832 thousand); H1 2025: SEK -20,004 thousand (H1 2024: SEK -25,163 thousand).

• Loss before tax Q2 2025: SEK -12,312 thousand (Q2 2024: SEK -11,126 thousand); H1 2025: SEK -22,483 thousand (H1 2024: SEK -27,860 thousand).

• Earnings per share Q2 2025: SEK -0.14 (Q2 2024: SEK -0.25); H1 2025: SEK -0.28 (H1 2024: SEK -0.67).

• Equity per share at period end: SEK 0.58 (Q2 2024: SEK 0.33); equity/asset ratio: 46% (Q2 2024: 14%).

Outlook and guidance

• Production improvements are expected to yield higher product volumes and sales in H2 2025.

• Commercialization of NLAB Saga® is anticipated to accelerate as large-scale production stabilizes.

• The company expects continued sales growth in the coming years as product availability increases.