ViroGates (VIRO) Q1 2025 earnings summary

Executive summary

• Focus shifted from acute hospital care to longevity and health clinics, targeting a broader market for suPAR-based biomarker solutions, with increased recurring customers in this segment.

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

• Marketing materials and commercial strategy revamped to support longevity positioning and drive pull from health clinics.

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

Financial highlights

• Q1 2025 revenue was DKK 1.2 million, flat compared to Q1 2024.

• 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 ago.

• Gross profit was DKK 0.53 million, 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.

• Continued focus on expanding the longevity segment and increasing recurring customers, with expectations that these efforts will translate into future revenue growth.

• US market approval for suPARnostic® TurbiLatex expected in 2025, with revenue impact anticipated from 2026 onward.

• Ongoing regulatory work with Sobi for US FDA and EU IVDR compliance, with no specific timeline disclosed for market entry.