Newbury Pharmaceuticals (NEWBRY) Q4 25/26 earnings summary

Executive summary

• FY 2025/26 net revenue rose to SEK 42.7m from SEK 31.6m; EBITDA remained negative at SEK -18.3m versus SEK -16.3m.

• Q4 revenue increased to SEK 13.6m from SEK 5.9m, while quarterly EBITDA improved to SEK -5.1m from SEK -5.9m.

• Continued portfolio expansion and planned launches supported growth, but lower margins, negative operating cash flow and funding needs remain key challenges.

Financial highlights

• FY net revenue was SEK 42.685m versus SEK 31.573m; Q4 revenue was SEK 13.578m versus SEK 5.915m.

• FY EBIT was SEK -20.660m versus SEK -21.966m; result before tax was SEK -22.919m versus SEK -23.603m.

• FY EBITDA was SEK -18.309m versus SEK -16.299m; Q4 EBITDA improved to SEK -5.141m from SEK -5.876m.

• FY operating cash flow was SEK -19.680m versus SEK -12.370m; year-end cash was SEK 9.344m versus SEK 14.562m.

Outlook and guidance

• Management’s primary goal is EBITDA breakeven, with portfolio prioritization, cost management and commercial execution supporting that objective.

• Target remains more than 30 Nordic product launches by Dec 2026; 29 products were launched at year-end.

• Negative operating cash flow is expected to continue in FY 2026/27; funding measures may be needed, with management assessing they can be executed during the year.