Newbury Pharmaceuticals (NEWBRY) Q4 2025 earnings summary

Executive summary

• Q4 turnover was significantly impacted by lower-than-expected tender wins, delayed product launches, and high competition, resulting in a sharp revenue decline year-over-year.

• Full-year net revenue decreased to 31,573 tkr from 36,829 tkr, with EBITDA falling to -16,299 tkr from -12,340 tkr.

• Nordic sales grew year-over-year, but international sales dropped sharply, affecting overall performance.

• Product portfolio expanded, with 30 licensed products and 29 with marketing authorization at year-end.

Financial highlights

• Q4 net revenue was 5,915 tkr, down from 21,123 tkr in Q4 last year.

• Full-year EBITDA was -16,299 tkr, compared to -12,340 tkr the previous year.

• Operating result (EBIT) for the year was -21,966 tkr, down from -14,078 tkr.

• Cash position at year-end was 14,562 tkr, slightly lower than last year.

• Equity at year-end was 42,754 tkr, with equity per share at 1.41 kr.

Outlook and guidance

• Q1 2025/2026 is expected to see record Nordic sales, but international business will remain weak until regulatory issues are resolved in 2026.

• The product portfolio is projected to reach over 30 launched products by December 2026, supporting future sales growth.

• Negative operating cash flow is expected to persist due to ongoing expansion.