Inhalation Sciences (ISAB) Q4 2024 earnings summary

Executive summary

• 2024 marked by continued customer interest but slow decision-making and funding challenges, resulting in lower sales and revenue year-over-year.

• Cost base reduced in line with revenue, ending the year with a stable cash position of 4.4 MSEK.

• Strategic focus on growth for 2025, with a sales pipeline of approximately 40 MSEK and ongoing evaluation of financing options.

• Key partnerships and product launches, including collaboration with Actarmo Medical and FDA engagement, expand addressable market.

Financial highlights

• Net revenue for Jan–Dec 2024 was 11,047 tkr, down from 17,504 tkr year-over-year.

• Operating loss for Jan–Dec 2024 was -5,076 tkr, compared to -3,756 tkr in 2023.

• Net loss for Jan–Dec 2024 was -5,147 tkr, with EPS of -0.34 SEK (vs. -0.36 SEK in 2023).

• Cash flow for the year was -3,380 tkr, with cash and equivalents at 4,445 tkr at year-end.

• Order intake for the year was 3,583 tkr (15,543 tkr in 2023); order backlog at year-end was 617 tkr (8,966 tkr in 2023).

Outlook and guidance

• Customer funding environment expected to improve in 2025, but intensive sales efforts required to convert pipeline.

• Additional capital and liquidity needed to support growth strategy until positive cash flow is achieved.

• Board is evaluating various financing options for the company's growth journey.

• Anticipated FDA publication and new product launches expected to drive sales.