Inhalation Sciences (ISAB) Q2 2025 earnings summary

Executive summary

• Achieved a successful rights issue in June, strengthening cash position by approximately 10 MSEK after costs, with a focus on reaching profitability soon.

• Implemented strict cost control, reducing R&D and business development expenses by 50% in H1 2025.

• Appointed a new Chief Commercial Officer with extensive industry experience to drive sales and market expansion.

• Planning a major communications campaign to highlight unique technology and recent FDA-validated study results.

Financial highlights

• Net sales for Q2 2025 were 777 tkr, down from 3,357 tkr in Q2 2024; H1 2025 net sales were 1,585 tkr, down from 7,277 tkr in H1 2024.

• Operating result for Q2 2025 was -2,498 tkr (Q2 2024: -893 tkr); H1 2025 operating result was -4,740 tkr (H1 2024: -1,668 tkr).

• Earnings per share for Q2 2025 were -0.09 SEK (-0.06); H1 2025 EPS was -0.17 SEK (-0.11).

• Order intake for Q2 2025 was 930 tkr (1,420 tkr); H1 2025 order intake was 1,838 tkr (1,822 tkr).

Outlook and guidance

• Targeting near-term profitability with strengthened cash position and reduced costs.

• Expecting increased market activity and willingness to invest in new inhalation projects.

• Ongoing efforts to convert leads from a 30 MSEK offer pipeline into formal orders.