NextCell Pharma (NXTCL) Q4 2025 earnings summary

Executive summary

• Achieved significant clinical milestone with completion of patient dosing in ProTrans-Young study for type 1 diabetes; encouraging interim results observed, with next evaluation scheduled after summer 2026.

• Subsidiaries Cellaviva and QVance showed stable growth; Cellaviva reported improved revenues and customer retention, while QVance became operational and began generating revenue.

• Strengthened financial position through successful TO2 warrant exercise and directed share issue, raising approximately SEK 36.6 million before costs.

• Changed fiscal year to align with the calendar year for improved comparability and reporting.

Financial highlights

• Q4 operating income was SEK 2.5 million, up from SEK 1.7 million year-over-year; net sales were SEK 2.6 million, mainly from Cellaviva.

• Q4 loss after financial items improved to SEK -8.5 million from SEK -13.2 million year-over-year; EPS was SEK -0.08 versus SEK -0.22.

• Twelve-month operating income was SEK 11.1 million (prior year: SEK 11.3 million); net sales SEK 10.9 million.

• Full-year loss after financial items improved to SEK -35.0 million from SEK -42.0 million; EPS was SEK -0.46 versus SEK -1.03.

• Cash and cash equivalents at period end were SEK 38.7 million, down from SEK 46.8 million year-over-year.

Outlook and guidance

• Focus remains on clinical progress, partnerships, and efficient resource management to support the next phase of development.

• Cellaviva anticipates continued growth and a strong finish to the year, supported by new services and digital platform enhancements.

• QVance aims to complete GMP license submission and expand its customer base in the coming quarter.