ViroGates (VIRO) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was flat year-over-year at DKK 1.2 million, while operating expenses dropped 33%, resulting in a 23% reduction in net loss compared to Q1 2024.

• The company is transitioning focus from acute hospital care to the health and longevity market, targeting a broader market for suPAR-based biomarker solutions and increasing recurring customers.

• Collaboration with Sobi expanded to cover both US and European regulatory requirements for TurbiLatex, with Sobi funding analytical development and ViroGates managing execution.

• Marketing and product positioning revamped to emphasize longevity and preventive health.

Financial highlights

• Revenue: DKK 1.2 million (Q1 2024: DKK 1.199 million), 0% change year-over-year.

• Operating expenses reduced by 33% year-over-year, reflecting cost-saving measures from late 2024.

• Net loss narrowed to DKK 2.8 million from DKK 3.6 million in Q1 2024, a 23% reduction.

• Cash and cash equivalents stood at DKK 11.2 million, down from DKK 12.2 million a year earlier.

• Gross profit: DKK 532,000, down 56% year-over-year.

Outlook and guidance

• Full-year 2025 guidance maintained: revenue between DKK 5–7 million and EBIT between DKK -8 and -11 million.

• Anticipates continued growth in the longevity segment, with increased recurring customers expected to drive future revenue.

• Ongoing regulatory work with Sobi for US FDA and EU IVDR compliance; US market approval for TurbiLatex expected in 2025, with revenue impact anticipated from 2026 onward.

• Product development for POC+ test ongoing, with results expected in the first half of 2025.

• Revenue contributions from the health and longevity sector remain limited as the company continues its strategic transition.