ChemoMetec (CHEMM) Q1 2026 earnings summary

Executive summary

• Revenue increased by 8% year-over-year in Q1 2025/26 to DKK 124.6 million (11% in constant currency), with strong growth in instruments, consumables, and services sales.

• EBITDA reached DKK 68.8 million, with a margin of 55%, up from 54% in the same period last year.

• Growth was seen across instruments, consumables, and services, with notable strength in the XM/XcytoMatic platform.

• Cost control remains strong, benefiting from last year's restructuring.

• Product development of the XM50/XcytoMatic 50 and Sample Management System progressed as planned, with positive customer feedback at a major industry conference.

Financial highlights

• Instrument sales were DKK 40 million, with XM accounting for about half; instrument sales grew by 4% year-over-year.

• Consumables revenue was DKK 55 million, up 12% year-over-year; services grew 4% (9-10% in constant currency).

• LCB (Life science research, Cell and gene therapy, Bioprocessing) accounted for 94% of total Q1 revenue.

• Gross margin improved due to a higher XM sales mix.

• U.S. tariffs had minimal impact, costing less than $1 million in the quarter.

Outlook and guidance

• Upgraded guidance reflects increased interest in the XM/XcytoMatic platform, not a single large order.

• Full-year 2025/26 revenue is expected in the DKK 565-580 million range, with EBITDA projected at DKK 320-335 million.

• Expectation of ramping up XM sales, with larger orders anticipated by fiscal year-end.

• Guidance is based on a broad pipeline, not reliant on any single customer or order.

• Profitability is expected to improve, with stable margins and targeted investments in software and sales talent.