Polymer Factory (POLYMER) Q4 2025 earnings summary

Executive summary

• Net sales for the full year 2025 increased by 18% year-over-year, while operating expenses decreased by 10% compared to 2024, resulting in a 30% improvement in operating profit year-over-year.

• The company remains loss-making, with a full-year loss of KSEK -2,896, but the loss narrowed from KSEK -4,118 in 2024.

• Strategic milestones include a major Spherical® product order from a global biopharma leader, a supply agreement with a scientific instrumentation leader, and the launch of a US sales hub.

• A directed share issue was completed to increase working capital, and the company received SEK 2.05 million from the exercise of warrants.

Financial highlights

• Net sales for Q4 2025 were KSEK 308, down 43% from Q4 2024; full-year net sales reached KSEK 1,990, up 18% year-over-year.

• Operating expenses for the full year were KSEK 6,788, down from KSEK 7,567 in 2024.

• Cash and bank balances stood at KSEK 1,715 as of December 31, 2025.

• Equity at year-end was KSEK 4,126, with an equity/assets ratio of 73%.

• Earnings per share for 2025 were SEK -0.23, an improvement from SEK -0.38 in 2024.

Outlook and guidance

• Focus remains on organic growth, high-margin products, and cost efficiency to achieve positive cash flow.

• Growth strategy leverages both partnerships and direct sales, with increased penetration in North America and Europe.

• The board notes a risk of insufficient financing over the next 12 months if sales do not improve or additional capital is not raised.