Insplorion (INSP) Q2 2025 earnings summary

Executive summary

• Transition from development to commercial product company continues, focusing on hydrogen sensors for safety in the hydrogen value chain.

• Launched the Insplorion NPS-P2 hydrogen detector and secured a significant order from a major US space company.

• Strategic partnerships and collaborations are being pursued, including with HydraSpecma and players in hydrogen refueling.

• ATEX certification process is underway, expected to enable larger orders and volume production in Q4.

• Participation in major industry events in Asia and Europe to expand market reach.

Financial highlights

• Net sales for Q2 2025 were SEK 51 thousand, down from SEK 160 thousand in Q2 2024.

• Profit after financial items for Q2 2025 was SEK -5,215 thousand, a slight improvement from SEK -5,376 thousand in Q2 2024.

• Earnings per share for Q2 2025 were SEK -0.09, compared to SEK -0.23 in Q2 2024.

• Cash flow from operating and investing activities was SEK -6,561 thousand in Q2 2025, compared to SEK -4,132 thousand in Q2 2024.

• Cash and cash equivalents at June 30, 2025, were SEK 5,531 thousand.

Outlook and guidance

• Expectation of a follow-up order of approximately SEK 700 thousand from Consilium.

• ATEX certification anticipated to be completed in Q4, enabling delivery of certified products.

• Continued focus on scaling up customer-financed projects and leveraging certification for volume applications.

• Renewed application to the EIC Accelerator for potential EUR 2.5 million in soft funding.