Perpetua Medical (PERP) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 increased 135% year-over-year to 3,227 KSEK, mainly from ES-Medical acquisition; operating result was -1,010 KSEK compared to 2,041 KSEK last year.

• EPS before and after dilution was -0.28 SEK (0.62/0.61 SEK last year); cash flow for the quarter was -2,187 KSEK, ending cash at 7,213 KSEK.

• Due diligence for Vitsab acquisition revealed significant investment needs, leading to the decision not to proceed; all related costs expensed in Q1.

• License agreement signed with Shelby Group Enterprises for US sales of Wastelog and Pharmacolog Dashboard.

• CEO purchased shares in April for approximately 105,900 SEK.

Financial highlights

• Operating expenses decreased to 4,889 KSEK (5,664 KSEK last year) due to the wind-down of Pharmacolog and addition of ES-Medical.

• Personnel costs dropped to 1,182 KSEK (2,468 KSEK last year); number of employees at period end was 3 (4 last year).

• Cash flow from operations was -2,070 KSEK; total cash flow -2,187 KSEK; equity at period end was 9,651 KSEK (12,418 KSEK last year).

• Solidarity ratio at 55% (84% last year); cash liquidity at 362% (582% last year).

• No dividend paid.

Outlook and guidance

• Acquisition strategy remains unchanged; focus on identifying profitable niche healthcare companies.

• No specific acquisition targets or pace communicated; ongoing efforts to divest Wastelog with expected results in coming months.