Xoma (XOM) Q4 2025 earnings summary

Executive summary

• Achieved significant technical milestones in Q4 2025, including FLOW technology's 97% uranium removal from process water, verified by SGS Analytics Sweden AB, and successful initial results at Björkdalsgruvan.

• Advanced FLOW projects toward pilot and commercialization phases, with a growing pipeline of industrial partnerships and project opportunities.

• Decided to develop CLAS technology in a separate structure, aiming for future spin-off and focused FLOW development.

• Strengthened financial position through targeted share issues and a fully guaranteed rights issue of warrants.

Financial highlights

• Q4 2025 operating revenue: 1,024 KSEK (268 KSEK Q4 2024); full year: 1,696 KSEK (268 KSEK 2024).

• Q4 EBITDA: -3,422 KSEK (-1,400 KSEK Q4 2024); full year: -9,185 KSEK (-3,144 KSEK 2024).

• Q4 EBIT: -3,475 KSEK (-1,430 KSEK Q4 2024); full year: -9,332 KSEK (-3,265 KSEK 2024).

• Q4 net result: -3,475 KSEK (-1,431 KSEK Q4 2024); full year: -9,335 KSEK (-3,269 KSEK 2024).

• EPS Q4: -0.03 SEK (-0.15 SEK Q4 2024); full year: -0.09 SEK (-0.34 SEK 2024).

Outlook and guidance

• Entering 2026 with a focus on advancing FLOW projects to pilot phase and expanding industrial collaborations.

• No dividend proposed for the year; company asserts going concern status.