aXichem (AXIC) Q3 2024 earnings summary

Executive summary

• Net sales for Jan–Sept 2024 reached SEK 7,179 thousand, up from SEK 1,534 thousand year-over-year, with Q3 sales at SEK 504 thousand, mainly from aXivite sales.

• Operating loss for Jan–Sept was SEK -10,963 thousand, improving from SEK -11,988 thousand; Q3 operating loss was SEK -5,545 thousand.

• Cash position at Sept 30, 2024 was SEK 8,613 thousand, with an equity ratio of 89%.

• Commercial production tests for aXiphen began in Brazil, targeting poultry producers with significant export business.

• aXivite continued to generate sales, with ongoing deliveries to Uriach and Pharmafoods in Spain.

Financial highlights

• Net sales for Jan–Sept 2024: SEK 7,179 thousand (SEK 1,534 thousand in 2023); Q3: SEK 504 thousand (SEK 287 thousand in 2023).

• Operating loss Jan–Sept: SEK -10,963 thousand (SEK -11,988 thousand); Q3: SEK -5,545 thousand (SEK -3,824 thousand).

• Net loss Jan–Sept: SEK -12,501 thousand (SEK -14,753 thousand); Q3: SEK -5,907 thousand (SEK -4,538 thousand).

• Cash flow from operations Jan–Sept: SEK -8,781 thousand; cash and cash equivalents at period end: SEK 8,613 thousand.

• Investments in fixed assets Jan–Sept: SEK 3,735 thousand (SEK 5,117 thousand in 2023).

Outlook and guidance

• Commercialization of phenylcapsaicin under aXiphen (animal feed) and aXivite (food supplements) continues, with production and logistics in place.

• Market establishment in Brazil and the EU prioritized; EU feed additive approval process ongoing, with results expected in H1 2025.

• No financial forecasts or targets will be published going forward.