Neola Medical (NEOLA) Q4 2025 earnings summary

Executive summary

• Entered clinical phase in 2025, launching the first clinical pilot study on preterm infants in Sweden and preparing for U.S. pivotal trials.

• Expanded leadership team, including a Director of Disposable Product Development, and strengthened the patent portfolio with seven new grants in 2025.

• Established collaborations with leading U.S. hospitals and key opinion leaders to support clinical adoption.

Financial highlights

• Completed a directed share issue of approximately SEK 20 million in H1 2025, attracting institutional investors.

• Full-year 2025 operating result was SEK -11,093k, with Q4 operating result at SEK -2,520k.

• Cash and cash equivalents at year-end were SEK 16,123k.

• Costs for 2025 were slightly lower than the previous year due to reduced need for external consultants.

• Result per share for 2025 was -0.14 SEK.

Outlook and guidance

• U.S. remains the primary target market, with commercialization strategy focused on top 10 children's hospitals.

• European market (Nordics, Ireland, France) is the next priority, with CE mark application in preparation.

• Clinical pilot study in Sweden expected to complete enrollment in Q1 2026, with full data analysis to follow.

• Burn rate expected to increase as clinical validation accelerates and commercial structure preparations continue.

• No dividend proposed for 2025.