Genetic Analysis (GEAN) Q4 2025 earnings summary

Executive summary

• Achieved record sales in Q4 2025, driven by recurring revenues from GA-map® kit sales and first US sales of the GA-map® MHI GutHealth test.

• Expanded commercial activities in the US and Europe, with new customer onboardings and partnerships supporting growth.

• Completed development phase of IBD Precision Dx biomarker panel, entering final validation.

Financial highlights

• Q4 2025 sales revenue: NOK 6.4 million, up 2.9% year-over-year (9.8% at constant currency).

• Full year 2025 sales revenue: NOK 16.7 million, up 5.2% (9.6% at constant currency).

• EBITDA for Q4 2025: NOK -1.6 million (vs. NOK 0.4 million in Q4 2024); full year EBITDA: NOK -6.1 million (vs. NOK -9.0 million in 2024).

• Net loss Q4 2025: NOK -2.6 million (vs. NOK -0.9 million); full year net loss: NOK -11.4 million (improved from NOK -14.8 million).

• Cash and cash equivalents at year-end: NOK 24.0 million (vs. NOK 13.4 million), positively impacted by a major customer pre-payment.

Outlook and guidance

• Positive momentum in the global microbiome market expected to continue, with strong growth prospects.

• Ongoing collaborations and new customer acquisitions underline robust demand for microbiome testing.

• Focus remains on delivering standardized, scalable testing solutions and expanding product portfolio.