Aker BioMarine (AKBM) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue reached $56.8 million, up 15% year-over-year, with adjusted EBITDA up 50% to $12.2 million, driven by strong Human Health Ingredients performance and new business wins.

• Human Health Ingredients segment delivered 23% revenue growth to $30.2 million and 35% adjusted EBITDA growth to $13.5 million, with robust demand and improved margins.

• Consumer Health Products revenue declined 6% year-over-year to $27.4 million, but EBITDA margins remained stable as inventory normalization supported direct-to-consumer sales.

• Emerging Business revenue was stable at $2.0 million, with negative EBITDA narrowing to -$0.4 million due to reduced operating expenses and cost control.

• Secured a major new supply agreement for Superba Krill Oil and continued expansion in Asia-Pacific.

Financial highlights

• Gross profit for Q3 2025 was $24.9 million, up from $17.7 million in Q3 2024, with gross margin improving to 44% from 36% year-over-year.

• Net profit from continued operations was $2.5 million, compared to $1.4 million in Q3 2024.

• Net interest-bearing debt stood at $165 million, leverage at 4x net debt/Adjusted EBITDA, and equity ratio at 38%.

• Net working capital at $118 million, up from $107 million last quarter, mainly due to higher inventory and payables.

• Cash flow from operations was $0.4 million for the quarter; total available liquidity at quarter-end was $18.4 million.

Outlook and guidance

• Human Health Ingredients expected to maintain strong growth and profitability, with continued demand in multiple markets.

• Consumer Health Products projected to return to modest growth as inventory issues normalize and revenues align with market growth.

• Emerging Business nearing cash break-even, with ongoing transaction activity and reduced materiality.

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

• Company is executing cost and productivity initiatives to improve efficiency and is monitoring macroeconomic uncertainty and new tariffs.