aXichem (AXIC) Q4 2024 earnings summary

Executive summary

• Net sales for 2024 reached 8,570 TSEK, a significant increase from 1,809 TSEK in 2023, marking the company's strongest sales year to date.

• Operating result for the year was -15,827 TSEK, improving from -17,318 TSEK in 2023; net result after tax was -17,815 TSEK versus -20,814 TSEK last year.

• Cash position at year-end was 14,359 TSEK, up from 4,309 TSEK, supported by successful capital raises.

• Major product launches and orders in both feed additives (aXiphen) and supplements (aXivite) drove growth, with notable traction in Brazil and the US.

Financial highlights

• Q4 2024 net sales were 1,391 TSEK, up from 275 TSEK in Q4 2023; full-year sales up 374% year-over-year.

• Q4 operating result was -4,864 TSEK (Q4 2023: -4,801 TSEK); full-year operating loss narrowed by 1,491 TSEK.

• EPS for 2024 was -0.46 SEK (2023: -1.03 SEK); equity per share at year-end was 1.19 SEK (2023: 2.26 SEK).

• Investments in intangible, tangible, and financial assets totaled 6,499 TSEK for the year.

• Solid equity ratio of 94% at year-end, up from 79% a year earlier.

Outlook and guidance

• Focus remains on commercializing phenylcapsaicin in both feed and supplement markets, with Brazil and EU as strategic priorities.

• Additional efficacy studies for EU feed additive approval are underway, potentially delaying EFSA submission.

• No financial forecasts or sales targets will be published going forward; sales will be reported quarterly.