SenzaGen (SENZA) Q3 2025 earnings summary

Executive summary

• Achieved 18% revenue growth year-over-year in Q3 2025 (15% reported, 18% in constant currency), reaching SEK 15.2 million, with break-even at EBITDA level, a SEK 1.2 million improvement from last year.

• Added 10 new Guard/GARD® customers, half of which are large multinationals, with 85% of sales from existing clients and strong US demand, including major orders from chemical and pharmaceutical sectors.

• ToxHub tripled sales in the quarter, now representing 9% of group sales for the first nine months, up from 5% in 2024.

• Vittroscreen showed 15% growth in constant currency, with improved market activity and ongoing focus on sales pipeline and cost control.

• Strategic priorities include scaling the business, enhancing efficiency, and investing for future growth through organic and selective acquisition-driven initiatives.

Financial highlights

• Q3 2025 revenue reached SEK 15.2 million, up 15% year-over-year (18% in constant currency).

• Gross margin stable at 66% (vs. 67% last year), with a slight product mix effect.

• EBITDA at break-even (SEK 0 million), an improvement of SEK 1.2 million year-over-year.

• Cash and cash equivalents at SEK 29.3 million at quarter-end; temporary negative cash flow due to high end-of-quarter invoicing and increased receivables.

• Earnings per share: SEK -0.07 in Q3 2025 (vs. SEK -0.08 in Q3 2024).

Outlook and guidance

• Order book at the start of Q4 2025 is stronger than the same period last year; no specific quarterly guidance provided.

• High industry engagement and regulatory progress, including OECD TG 497 approval and ISO standard initiatives, are expected to boost future sales, with further R&D and test portfolio expansion planned.

• Focus remains on scaling the business, improving efficiency, and investing in key growth projects in medical devices, dos response, and Aura.

• Organic growth prioritized, with selective acquisitions to complement the group.