SenzaGen (SENZA) Q2 2025 earnings summary

Executive summary

• Order intake exceeded sales, positioning for future growth, with strong momentum in MedTech and cosmetics sectors.

• Expanded OECD approval for GARD®skin and new test platforms, including EpiSensA and organoid models, are expected to drive demand.

• High internal efficiency and cost control improved cash flow despite global uncertainty and lower sales per customer.

• Yield-free testing and new test platforms are highlighted as growth drivers.

• Notable customer activity in MedTech and cosmetics, with key clients like L'Oreal and Clarins.

Financial highlights

• Q2 2025 net sales: SEK 13.5 million, down 6% year-over-year; H1 2025 net sales: SEK 27.2 million, down 6%.

• Direct sales accounted for 43% of revenue, with a 63% target mentioned.

• Q2 2025 EBITDA: SEK -3.4 million (vs. -2.5 million in Q2 2024); H1 2025 EBITDA: SEK -4.8 million (vs. -2.4 million in H1 2024).

• Gross margin for H1 2025 stable at 70% (vs. 72% in H1 2024).

• Cash and cash equivalents at June 30: SEK 34.4 million (vs. SEK 42.9 million a year earlier).

Outlook and guidance

• Entering H2 2025 with a stronger order book and controlled costs.

• Expanded regulatory approval for GARD®skin and new test methods expected to drive growth and improved margins.

• Positive signals from regulatory bodies and key opinion leaders suggest continued growth.

• Expansion in MedTech testing and new product launches expected to drive future performance.

• Anticipated increased demand from regulatory changes and industry trends toward non-animal testing.