Brain+ (BRAINP) H1 2025 earnings summary

Executive summary

• Achieved significant commercial traction with three UK care home operator contracts, expanding from 7 to 22+ sites, validating the product and market fit.

• Clinical validation achieved through a 14-week pilot, showing measurable improvements in resident well-being and staff satisfaction.

• Secured NHS dementia innovator accelerator recognition, enhancing credibility and market positioning.

• Built a robust UK sales pipeline valued at up to DKK 23 million, with a highly targeted approach to care home operators.

• Demonstrated strong leadership commitment and operational focus, with a leaner organization post-restructure.

Financial highlights

• Gross profit loss of DKK 1 million for H1 2025, compared to a profit of DKK 1 million last year, mainly due to a halt in capitalized development cost income.

• Staff expenses reduced by 16% year-over-year, reflecting restructuring efforts.

• Net loss for H1 2025 was DKK 8.0 million, compared to DKK 7.1 million in H1 2024.

• Cash position at end of H1 2025 was DKK 4.3 million, bolstered by successful financing rounds.

• Cash flow from operating and investing activities was DKK -7.0 million, improved from DKK -7.4 million in H1 2024.

Outlook and guidance

• Retains full-year sales contract forecast of DKK 3.6 million, expecting accelerated pipeline conversion.

• UK sales pipeline valued at DKK 23 million, with DKK 7.6 million considered closable in 2025.

• Probability-weighted 2025 sales cash flow expected at DKK 1.9 million, with a total outlook of DKK 2.2 million for 2025.

• Net loss for 2025 now expected at DKK 10.0-11.0 million, higher than previous guidance.

• Sufficient funding expected to support operations until mid-2026 cash-flow break-even.