SaltX Technology (SALT) Q4 2025 earnings summary

Executive summary

• Achieved all defined technical milestones and completed extensive test programs, marking a breakthrough year with growing global interest in electrification technology for emission-intensive industries.

• Progressed from validation to commercialization, with a clear roadmap toward 2035 and strengthened partnerships in lime, cement, and carbon removal segments.

• Secured significant funding and strategic investments, enabling the next phase of industrial demonstration and commercialization.

Financial highlights

• Q4 2025 net sales were MSEK 19.7, up from MSEK 18.5 in Q4 2024; full-year net sales reached MSEK 44.0, up from MSEK 39.9 year-over-year.

• Q4 2025 EBIT was MSEK -20.5 (Q4 2024: -16.0); full-year EBIT was MSEK -61.1 (FY 2024: -54.2).

• Cash flow from operating activities for Q4 2025 was MSEK -16.7 (Q4 2024: -7.9); full-year was MSEK -45.7 (FY 2024: -58.6).

• Earnings per share for Q4 2025 were SEK -0.11 (Q4 2024: -0.09); full-year EPS was SEK -0.34 (FY 2024: -0.32).

• Equity at year-end was MSEK 227.5, with an equity ratio of 86%.

Outlook and guidance

• Construction of the pilot plant in Mo i Rana, Norway, is planned to begin in spring 2026, transitioning from testing to industrial demonstration.

• Continued stepwise development and commercialization, supported by strengthened technology, organization, and partnerships.

• Ongoing collaboration with key partners and expansion into new markets and applications.