SenzaGen (SENZA) Q4 2025 earnings summary

Executive summary

• Achieved strong close to 2025 with record GARD® sales, improved H2 momentum, and robust order book entering 2026.

• Broadened customer base, increased repeat business, and major orders from US tech and chemicals companies.

• Advanced strategic initiatives, including ISO and OECD validation for GARD® and new in-licensed products.

• Eiffel Investment Group became a major shareholder, supporting long-term growth.

• Cost discipline led to a lower cost base, supporting the path to profitability.

Financial highlights

• Q4 net sales: SEK 15.6M (+1% YoY, +4% FX-adjusted); full year: SEK 58.0M (+1% YoY, +4% FX-adjusted).

• GARD® Q4 sales: SEK 12.3M (+13% YoY, +18% FX-adjusted); FY: SEK 41.9M (+8% YoY, +12% FX-adjusted).

• Gross margin: 65% for FY (down 2 pts YoY); Q4 gross margin: 55% (impacted by product mix).

• EBIT: -SEK 11.6M for FY; Q4 EBIT: -SEK 4.0M.

• Cash and equivalents at year-end: SEK 26.8M; earnings per share: -0.39 SEK for FY.

Outlook and guidance

• Entering 2026 with a strong order book (SEK 7.9M at year-end, +50% YoY), lower cost base, and positive momentum for growth and profitability aligned with the 2030 growth plan.

• Growth Plan 2030 targets break-even short-term, acceleration via ISO inclusion mid-term, and US expansion long-term.

• Strategic acquisitions, new test launches, and expanded lab capacity expected to drive scaling phase.