Aker BioMarine (AKBM) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue rose 12% year-over-year to $55.3 million, with adjusted EBITDA up 41% to $13.6 million, driven by strong Human Health Ingredients and Consumer Health Products segments.

• Net profit from continued operations was $1.4 million, but total net loss reached $14.7 million due to discontinued operations and a $15 million impairment of the protein plant.

• Growth was supported by a diversified customer base and reduced market dependency.

• The company completed restructuring, shifting resources and leadership, and updated cost allocation.

• Clinical trial for Lysoveta was initiated, and exclusive commercialization agreements expanded in Southeast Asia.

Financial highlights

• Gross profit for Q2 2025 was $26.2 million, with gross margin improvement driven by higher volumes and better price mix.

• Adjusted EBITDA margin improved to 25% in Q2 2025 from 20% in Q2 2024.

• Cash flow from operations was $3.8 million in Q2, with total available liquidity of $26.4 million as of June 30.

• Net interest-bearing debt stood at $156 million, with leverage at 4.2x, below bank thresholds.

• SG&A expenses increased to $18.2 million due to restructuring and cost reallocation.

Outlook and guidance

• Q3 2025 revenues expected to be similar to Q2, with growth resuming after; Human Health Ingredients and Consumer Health Products segments anticipate continued or modest growth.

• Corporate costs are expected between $12 million and $14 million going forward.

• Lysoveta approval in Europe expected by September 2026, with focus on U.S., Australia, and Asia.

• Product portfolio expansion in PL+, Algae, and Lysoveta to drive future growth.

• Company is monitoring macroeconomic uncertainty and new tariffs, with mitigation strategies underway.