SpectraCure (SPEC) Q2 2025 earnings summary

Executive summary

• Achieved key milestones in clinical studies, including first patient treatment in primary localized prostate cancer at MSKCC and preparations for study launch in Cologne.

• Launched a new version of the Q-PRO® system with improved usability and performance.

• Raised SEK 54.8 million in a rights issue to support ongoing and new clinical studies.

Financial highlights

• Q2 2025 net loss after tax was SEK -7.2 million, compared to SEK -6.1 million in Q2 2024.

• H1 2025 net loss after tax was SEK -13.5 million, compared to SEK -12.1 million year-over-year.

• Q2 2025 operating cash flow was SEK 4.2 million, up from SEK -8.6 million in Q2 2024; H1 2025 operating cash flow was SEK -1.5 million, improved from SEK -12.4 million year-over-year.

• Equity as of June 30, 2025, was SEK 134.9 million, with a solidity of 78% (down from 88% year-over-year).

• Cash and cash equivalents at period end were SEK 9.3 million, down from SEK 35.9 million year-over-year.

Outlook and guidance

• Focus remains on completing phase 2 study for recurrent prostate cancer and advancing phase 1/2 study for primary localized prostate cancer.

• Market launch preparations are underway, with strategic partnerships and commercialization plans in place.

• The global prostate cancer treatment market is expected to grow from $12.9 billion in 2025 to over $29 billion by 2035.