NextCell Pharma (NXTCL) Q3 2025 earnings summary

Executive summary

• Operating income for Q3 2025 was SEK 2.3 million, mainly from Cellaviva, with net sales of SEK 2.3 million and a net loss after financial items of SEK -10.3 million compared to -8.8 million last year.

• For the first nine months, operating income was SEK 8.5 million, net sales SEK 8.3 million, and net loss after financial items SEK -26.5 million, an improvement from -28.7 million year-over-year.

• Cash and cash equivalents at the end of Q3 were SEK 16.7 million, down from SEK 20.8 million last year.

• Equity ratio improved to 79% from 77% year-over-year.

• Strategic partnership with Fujifilm Irvine Scientific and a US patent grant for the MSC prediction algorithm were key milestones.

Financial highlights

• Q3 operating income: SEK 2.3 million (Q3 2024: SEK 2.5 million); net sales: SEK 2.3 million (Q3 2024: SEK 2.4 million).

• Q3 net loss after financial items: SEK -10.3 million (Q3 2024: SEK -8.8 million); EPS: SEK -0.14 (Q3 2024: SEK -0.26).

• Nine-month net loss after financial items: SEK -26.5 million (2024: SEK -28.7 million); EPS: SEK -0.36 (2024: SEK -0.84).

• Cash flow from operating activities for Q3: SEK -8.8 million; for nine months: SEK -28.1 million.

• Share capital increased to SEK 14.98 million with 73,091,327 shares outstanding as of May 31, 2025.

Outlook and guidance

• Funding secured for 2025 and 2026 following a 95% subscription of TO2 warrants and directed share issues, raising SEK 36.6 million before costs.

• Focus remains on advancing ProTrans to market, with robust clinical pipeline and strategic partnerships.

• One-year data from the ProTrans-Young study expected in H2 2026; QVance to commence customer onboarding in the coming quarter.