Peptonic Medical (PMED) Q2 2025 earnings summary

Executive summary

• Sales declined 20% year-over-year in Q2 2025 due to strategic exit from Israeli manufacturing and US OEM products, but Nordic sales grew 43%.

• Cost reductions and improved margins led to a significant improvement in operating result, with Q2 operating loss reduced to -3.5 MSEK from -11.0 MSEK year-over-year.

• Ongoing corporate restructuring extended to September 2025, with break-even targeted for November 2025.

• Cash position strengthened by a new share issue, with further capital injection contingent on restructuring plan approval.

Financial highlights

• Q2 2025 sales: 4,912 KSEK (6,112 KSEK in Q2 2024); H1 2025 sales: 8,670 KSEK (16,920 KSEK in H1 2024).

• Q2 gross profit: 4,783 KSEK (3,548 KSEK); gross margin: 97% (58%).

• Q2 operating result: -3,490 KSEK (-11,011 KSEK); H1 operating result: -10,949 KSEK (-21,409 KSEK).

• Q2 EPS: -0.0004 SEK (-0.0071 SEK); H1 EPS: -0.0015 SEK (-0.013 SEK).

• Cash at June 30, 2025: 5,667 KSEK (1,833 KSEK at June 30, 2024).

Outlook and guidance

• Revised forecast expects break-even in November 2025, with liquidity secured until at least April 2026.

• Forecast reflects delays in US market activities and manufacturing due to restructuring and summer seasonality.