PolarCool (POLAR) Q1 2025 earnings summary

Executive summary

• Achieved a breakthrough three-year league agreement with Czech Extraliga worth 2.5 MSEK, starting 2025/2026.

• Expanded presence in American football and rugby with new contracts, including Hamburg Sea Devils and USA Perpignan.

• Strengthened financial position by raising 6.76 MSEK through exercised options, with a 78% subscription rate.

• Enhanced sales and marketing organization, including hiring a European sales chief and launching a new website.

• Ongoing regulatory efforts in the US and Canada, with preparations for broader launches upon approval.

Financial highlights

• Net sales for Q1 2025 reached 0.5 MSEK, up from 0.4 MSEK year-over-year.

• Operating loss widened to -3.8 MSEK from -2.2 MSEK year-over-year, mainly due to one-time investments in sales and marketing.

• Cash and cash equivalents at period end were 9.9 MSEK, up from 0.2 MSEK year-over-year.

• Equity at period end was 15.1 MSEK, with a solid equity ratio of 83%.

• Personnel and external costs increased due to organizational expansion and digital marketing initiatives.

Outlook and guidance

• Main focus for 2025 is achieving profitability through increased sales, especially in Europe.

• With current cost structure, 150 rented systems are estimated to cover the company’s cost base.

• Expansion efforts continue in Australia, South Africa, and preparations for US and Canada launches in H2 2025.

• Ongoing clinical studies and regulatory filings to support market acceptance and future growth.