Spermosens (SPERM) Q3 2026 earnings summary

Executive summary

• Focus is shifting from development to go-to-market preparations, with partner discussions and clinical validation of JUNO-Checked progressing.

• The Generation 3 study is on track; 86 patients had been tested, and sensor variation, shelf life and time to result improved.

Financial highlights

• Q3 net sales were SEK 0; operating loss was SEK 2.377m versus SEK 2.356m in Q3 2025.

• Q1–Q3 operating loss was SEK 7.338m versus SEK 7.080m; net loss was SEK 7.338m versus SEK 7.088m.

• Q3 operating expenses were SEK 2.377m; R&D expenses fell to SEK 924k from SEK 1.995m, while G&A rose to SEK 1.445m from SEK 356k.

• Q1–Q3 operating cash flow was negative SEK 7.303m versus negative SEK 4.755m; period-end cash was SEK 4.026m.

Outlook and guidance

• Completion of Generation 3 validation and partner or license agreements are targeted for H2 2026; partner testing is planned for H1 2027.

• Regulatory readiness and go-to-market preparations with partners are targeted for H2 2027, with partner-led commercial rollout planned for H1 2028.

• Completion of the Generation 3 study by year-end remains the ambition, with flexibility to extend it for more data and refinement of routine-use test conditions.

• The SEK 4.85m capital facility extends the cash runway into Q1 2027; TO6 warrants may provide additional funding.