Acarix (ACARIX) Q1 2025 earnings summary

Executive summary

• U.S. patch sales surged 104% year-over-year, with system deliveries up 46% and 19–20 systems delivered in Q1 2025, reflecting robust market adoption.

• Total revenue increased 11% year-over-year to SEK 1,729 thousand, with global top-line revenue up 30%.

• Net loss improved to SEK -14,108 thousand, a 6% reduction from Q1 2024, with operating expenses down 6%.

• CEO increased personal investment by 64% in Q1 2025, signaling confidence in the company's strategy.

• Won the 2025 Digital Innovation Award and received an honorable mention at the Digital Health Awards.

Financial highlights

• U.S. system deliveries increased 46% year-over-year; patch sales in the U.S. grew 104%.

• Total revenue: SEK 1,729 thousand (+11% year-over-year); U.S. patch revenue: SEK 1,026 thousand (+30%).

• Gross margin declined to 81% from 91% due to a one-time, strategically priced order; patch gross margin remained strong at 93%.

• Operating expenses reduced by 6% year-over-year; net loss improved by SEK 822,000 (6%).

• Monthly burn rate reduced by 27% to SEK 4,490 thousand from Q1 2024.

Outlook and guidance

• Anticipates continued growth in patch sales and further expansion in primary care and ED segments.

• Expects to secure fixed reimbursement with at least one major payer by end of Q3 2025.

• UC Davis clinical trial on track for full enrollment by Q3 2025; systematic review and CMS CPT 1 transition targeted for Q3 2025.

• Partnership with Geo-Med expected to drive significant U.S. growth in 2025, with sales targeted within 3–6 months.

• Ongoing focus on breaking even, achieving profitability, and possible need for additional financing in 2025.