SaltX Technology (SALT) Q2 2025 earnings summary

Executive summary

• Focused strategy on electrification and decarbonization of quicklime, cement, and Direct Air Capture (DAC) industries, with strong partnerships established in each sector.

• Accelerated commercialization through strategic collaborations with SMA Mineral, Holcim, and a major U.S. DAC company.

• Achieved significant milestones, including a license agreement with SMA Mineral and a strategic partnership and investment from Holcim.

Financial highlights

• Q2 2025 net sales reached MSEK 21.2, up from MSEK 4.6 in Q2 2024; YTD net sales were MSEK 21.4, nearly flat year-over-year.

• Q2 2025 EBIT was MSEK -1.8, an improvement from MSEK -4.8 in Q2 2024; YTD EBIT was MSEK -24.6, down from MSEK -17.2 year-over-year.

• Q2 2025 cash flow from operating activities was MSEK 9.7, compared to MSEK -20.0 in Q2 2024; YTD cash flow was MSEK -8.8, improved from MSEK -39.5.

• Earnings per share for Q2 2025 was SEK -0.01, compared to SEK 0.03 in Q2 2024; YTD EPS was SEK -0.14, versus SEK -0.11 year-over-year.

• Equity at quarter-end was MSEK 161.6, with an equity ratio of 81%.

Outlook and guidance

• Positioned for accelerated global rollout and commercialization in quicklime, cement, and DAC sectors.

• Ongoing efforts to refine revenue models and establish scalable, long-term partnerships.

• Board assesses sufficient capital for operations over the next twelve months, with potential need for additional capital before achieving positive cash flow.