Fluicell (FLUI) Q1 2025 earnings summary

Executive summary

• Total operating income rose 636% to 3,579 KSEK, mainly due to a change in accounting for R&D costs and contributions from the Eurostars project.

• Net sales decreased 28% year-over-year to 231 KSEK, primarily from lower consumables sales.

• Operating loss (EBIT) improved to -2,644 KSEK from -7,852 KSEK, driven by cost savings and accounting changes.

• Strategic focus on regenerative medicine, especially type 1 diabetes therapies, with progress in partnerships and funding opportunities.

Financial highlights

• EBITDA improved to -2,541 KSEK from -7,731 KSEK year-over-year.

• Result before tax was -2,675 KSEK, up from -7,842 KSEK.

• Cash flow from operations improved to -3,794 KSEK from -8,484 KSEK.

• Total cash flow for the quarter was -6,215 KSEK, compared to 14,243 KSEK last year (previous period included a large share issue).

• Result per share was -1.95 SEK, compared to -0.02 SEK, reflecting a reverse split and lower average shares.

Outlook and guidance

• Management expects a decision on Breakthrough T1D funding for the diabetes program before the end of Q3 2025.

• The company is intensifying efforts in regenerative medicine and expects to seek additional external financing during 2025.

• Board assesses opportunities for commercial agreements and new financing as good, but funding for the remainder of 2025 is not yet secured.