Corline Biomedical (CLBIO) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 were 2,055 KSEK, down from 3,738 KSEK year-over-year, with a net loss after financial items of -3,071 KSEK compared to -1,668 KSEK.

• Focus remains on US market entry for CHSTM-coated products, especially the Globe® catheter for PFA, with FDA approval expected in H2 2025.

• Corline doubled early-stage customer projects to 10-12 since 2024, 80% US-based, and delivered test units to new customers in Q1 2025.

Financial highlights

• Operating loss for Q1 2025 was -3,071 KSEK, with operating costs reduced by about 2 MSEK year-over-year.

• Cash and cash equivalents at March 31, 2025, were 11,735 KSEK, down from 17,473 KSEK a year earlier.

• Equity at period end was 83,843 KSEK, with a solid equity ratio of 93.6%.

• Cash flow from operations was -5,782 KSEK, and investments were -151 KSEK, reflecting reduced clinical development spending.

• Earnings per share for Q1 2025 were -0.13 SEK, compared to -0.08 SEK in Q1 2024.

Outlook and guidance

• Cost adjustments are expected to enable profitability by the end of 2025.

• Liquidity and expected sales from current contracts are projected to cover operational needs for at least 12 months.

• FDA decision on Globe® catheter anticipated in H2 2025, with Kardium prepared for US launch.