Phase Holographic (PHI) Q1 25/26 earnings summary

Executive summary

• Net sales for Q1 2025/26 were 365 KSEK, down from 1,338 KSEK year-over-year, reflecting a strategic shift from exclusive distribution to direct sales.

• EBITDA was -7,048 KSEK, compared to -4,733 KSEK in the prior year, with a net result of -8,542 KSEK versus -5,929 KSEK.

• Gross margin declined to 68% from 83% year-over-year.

• Leadership change: Patrik Eschricht returned as CEO in May 2025.

• The global distributor agreement with Altium A/S was changed to non-exclusivity, enabling PHI to internalize global sales.

Financial highlights

• Net sales: 365 KSEK (Q1 2025/26) vs. 1,338 KSEK (Q1 2024/25).

• EBITDA: -7,048 KSEK (Q1 2025/26) vs. -4,733 KSEK (Q1 2024/25).

• Net result: -8,542 KSEK (Q1 2025/26) vs. -5,929 KSEK (Q1 2024/25).

• Gross margin: 68% (Q1 2025/26) vs. 83% (Q1 2024/25).

• Earnings per share: -0.14 SEK (Q1 2025/26) vs. -0.23 SEK (Q1 2024/25).

Outlook and guidance

• Focus on clinical integration, product innovation, global reach, and commercial control.

• Strategic partnerships, especially with Wake Forest Institute for Regenerative Medicine, to accelerate clinical ambitions.

• Anticipates increased demand for non-invasive, real-time cell monitoring tools in regenerative medicine.