Fermentalg (FALG) H1 2025 earnings summary

Executive summary

• Achieved major milestones in expanding the BioSolutions portfolio and entering new markets, despite a challenging macroeconomic environment.

• Expanded presence in the value chain and enhanced product offering, especially in sustainable alternatives to fish oils.

• FDA approval of natural blue colorant sets stage for significant growth from 2026.

Financial highlights

• Revenue for H1 2025 reached €7.6 million, up 20% year-over-year from H1 2024.

• Operating income before share-based payments and non-recurring items was -€4.3 million, stable compared to -€4.4 million in H1 2024.

• Net income improved to -€4.3 million from -€5.7 million in H1 2024, mainly due to lower net financial expenses.

• Gross cash at June 30, 2025, was €12.8 million, with €30.3 million in equity.

Outlook and guidance

• Cautious approach for H2 2025 due to ongoing macroeconomic headwinds.

• Targeting double-digit revenue growth for full-year 2025 compared to €11.5 million in 2024.

• Medium-term ambitions remain strong, driven by new product industrialization, strategic customer acquisition, and cost optimization.