Acarix (ACARIX) Q3 2025 earnings summary

Executive summary

• Achieved 137% year-over-year global revenue growth in Q3 2025, driven by MENA market expansion and continued U.S. momentum.

• Operating costs reduced by 43% and net loss improved by 49% compared to Q3 2024, reflecting strong cost control.

• Expanded into the MENA region with a distributor-based model, validating international scalability and securing first major order.

• Major U.S. reimbursement milestones achieved, including HealthChoice coverage and removal of 'experimental' label by three of five largest payors.

• Heart Failure Seismo algorithm accepted for AHA Congress, targeting a $16 billion market.

Financial highlights

• Q3 2025 global revenue reached SEK 2,350 thousand, up 137% year-over-year; U.S. revenue up 17%.

• Gross margin remained strong at 85%, with a slight reduction from 90% due to MENA distributor model.

• Operating expenses reduced by 43% to SEK 11,168 thousand.

• Net loss decreased by 49% to SEK –9,445 thousand; monthly burn rate down 45%.

• Cash balance at period end: SEK 24,407 thousand; equity: SEK 38,484 thousand.

Outlook and guidance

• Focused on expanding reimbursement, U.S. rural health grants, and global growth through international partnerships.

• Plans to pursue additional U.S. clinical trial sites and new OUS market opportunities.

• Additional financing may be required in 2026 to support growth plans, with board confident in ability to raise capital.

• More detailed guidance to be provided in future quarters.