Polymer Factory (POLYMER) Q2 2024 earnings summary

Executive summary

• Advanced SpheriCal® and dendritic nanogel platforms, achieving key 2024 goals including a new product launch and a granted US patent for DNG.

• Commercially launched SpheriCal® calibrants for IM-MS and expanded presence at major industry conferences.

• Moved share listing from Spotlight Stock Market to Nordic SME on NGM to streamline costs.

Financial highlights

• Net sales for Q2 2024 were KSEK 197, down 47% year-over-year; H1 2024 net sales were KSEK 592, down 40%.

• Q2 2024 loss was KSEK -1,317, compared to KSEK -1,074 in Q2 2023; H1 2024 loss was KSEK -2,567, improved from KSEK -2,807.

• Cash and bank at June 30, 2024: KSEK 1,633; equity: KSEK 5,014; equity/assets ratio: 79%.

• Cash flow from operating activities for H1 2024 was KSEK -2,567, compared to KSEK 84 in H1 2023.

• Earnings per share for Q2 2024: SEK -0.12; H1 2024: SEK -0.24.

Outlook and guidance

• Continued focus on technology platform development and new product launches for the remainder of 2024.

• Anticipates ongoing collaborations with life science companies despite general economic uncertainty.