ViroGates (VIRO) Q4 2024 earnings summary

Executive summary

• Transitioned focus to longevity and general health, leveraging suPAR biomarker for early intervention and health optimization.

• Entered distribution agreements and strategic partnerships with suPAR Health LLC and Sobi for US market entry and population health management.

• Reorganized sales and marketing to support the shift toward the longevity segment and narrowed financial guidance.

• Net revenue declined by 12% year-over-year to DKK 4.9 million in 2024, with net loss increasing to DKK -14.4 million, mainly due to lower research customer orders and write-downs.

Financial highlights

• Net revenue fell to DKK 4,897k in 2024 from DKK 5,582k in 2023, a 12% decrease.

• Net loss for the year increased to DKK -14,345k from DKK -12,096k in 2023.

• Other income rose by 60% to DKK 2.2 million, primarily from Sobi collaboration funding.

• Operating expenses increased by 5% to DKK 19.4 million, driven by higher patent and project costs.

• Year-end cash position was DKK 12.2 million, supported by a DKK 8.2 million capital raise.

Outlook and guidance

• 2025 revenue guidance is DKK 5–7 million, with growth expected from longevity and health clinic segments.

• Strategic focus on adapting go-to-market approach and marketing to target new customer segments, especially in the US.

• US market entry progressing via FDA registration (long-term) and CLIA lab distribution (already launched).

• Revised financial guidance was announced during the year, reflecting narrowed expectations.