Insplorion (INSP) Q4 2025 earnings summary

Executive summary

• Net sales for Q4 2025 were 297 KSEK, up from 264 KSEK in Q4 2024; full-year net sales reached 1,877 KSEK, nearly flat year-over-year.

• Profit after financial items for Q4 2025 was -16,221 KSEK, a significant loss compared to -6,167 KSEK in Q4 2024; full-year loss deepened to -28,807 KSEK from -19,665 KSEK.

• Strategic review led to a preliminary agreement to divest the hydrogen sensor business to MannTek for 5.5 MSEK.

• Management changes and a focus on securing long-term financial stability were initiated.

Financial highlights

• Earnings per share before and after dilution for Q4 2025 were -0.21 SEK, compared to -0.13 SEK in Q4 2024; full-year EPS improved to -0.44 SEK from -0.67 SEK.

• Cash flow from operating and investing activities for Q4 2025 was -4,508 KSEK; full-year cash flow was -20,135 KSEK.

• Cash and cash equivalents at year-end were 2,596 KSEK, down from 12,753 KSEK a year earlier.

• No interest-bearing liabilities at year-end, compared to 269 KSEK in the prior year.

Outlook and guidance

• Liquidity is expected to be sufficient until the end of Q1 2026, with a focus on closing the MannTek deal.

• Continued development of research instruments and exploration of strategic partnerships or M&A opportunities.

• ATEX certification for the hydrogen detector is progressing, with final product test report expected in March or April 2026.