XP Chemistries (XPC) Q3 2025 earnings summary

Executive summary

• Achieved EU approval for high-purity capsaicin as a feed additive, enabling legal sales across the EU from September 30, 2025.

• Shifted commercial strategy to focus on encapsulated, customer-adapted capsaicin products for animal feed, aiming for higher value capture and margins.

• Intensified distributor and customer engagement, with structured distribution solutions targeted before year-end 2025.

Financial highlights

• Net sales for January–September 2025 were 256 TSEK, up from 229 TSEK year-over-year.

• Operating loss for the nine months was -7,265 TSEK (prior year: -6,638 TSEK); Q3 operating loss was -2,623 TSEK (Q3 2024: -2,069 TSEK).

• Result before tax for January–September was -7,304 TSEK (prior year: -6,632 TSEK); Q3 result before tax was -2,630 TSEK (Q3 2024: -2,085 TSEK).

• Earnings per share for January–September was -0.02 SEK (prior year: -0.06 SEK); Q3 EPS was -0.01 SEK (Q3 2024: -0.02 SEK).

• Cash and cash equivalents at September 30, 2025, were 18,020 TSEK (September 2024: 1,645 TSEK).

Outlook and guidance

• Focus on scaling up both raw material and formulated product production, with ongoing negotiations with selected distributors.

• Expectation of gradual transition from pilot volumes to recurring deliveries as formulations are qualified by customers.

• Management expresses a positive outlook, aiming to establish a leading position in capsaicin-based feed additives.