Cyclezyme (CYCLE) Q4 2025 earnings summary

Executive summary

• Achieved first full-year revenues of 841 KSEK, driven by industrial collaborations and project billings.

• Entered strategic partnerships with Albany International and a major European recycling company to advance enzymatic recycling technology.

• Strengthened financial position through successful warrant exercise and directed share issues, raising over 6 MSEK before costs.

• Progressed from technology verification to pre-industrial scale projects, with robust partner engagement and market validation.

Financial highlights

• Q4 2025 net sales: 691 KSEK (0); full-year: 841 KSEK (0), reflecting new project revenues.

• Q4 operating result: -91 KSEK (-677); full-year: -1,543 KSEK (-2,141), showing reduced losses year-over-year.

• Net result per share: -0.04 SEK in Q4 (-0.29); -0.67 SEK for the year (-1.00).

• Cash flow for the year: 363 KSEK (-3,583); cash at year-end: 2,583 KSEK (2,220).

• Equity at year-end: 7,750 KSEK (4,747); equity per share: 2.99 SEK (2.22).

Outlook and guidance

• Ongoing industrial projects expected to deliver technical results and customer samples in 2026.

• Financial position and cost controls deemed sufficient for at least 12 months of continued operations.

• No dividend proposed for 2025; focus remains on technology development and commercialization.