Klaria Pharma (KLAR) Q2 2025 earnings summary

Executive summary

• Net sales for Q2 2025 were SEK 0, with a year-to-date total of SEK 8.99 million, up from SEK 0.12 million year-over-year.

• R&D expenses increased to SEK 7.1 million in Q2, and SEK 10.5 million for H1 2025.

• Profit after tax for Q2 was SEK -20.1 million, with H1 2025 at SEK -21.7 million, showing a slight improvement year-over-year.

• Cash flow from operating activities improved to SEK -2.3 million in Q2 and SEK -1.7 million for H1 2025.

• Equity at the end of Q2 was SEK -18.4 million, a significant decline from SEK 20.8 million the previous year.

Financial highlights

• Q2 net sales were SEK 0, unchanged from the prior year; H1 net sales rose to SEK 8.99 million from SEK 0.12 million.

• R&D costs for Q2 increased to SEK 7.1 million from SEK 3.6 million year-over-year.

• Q2 profit after tax was SEK -20.1 million, compared to SEK -12.4 million last year.

• Earnings per share for Q2 were SEK -0.14, down from SEK -0.11 year-over-year.

• Cash and cash equivalents at period end were SEK 2.0 million, up from SEK 1.5 million.

Outlook and guidance

• Anticipates 15–20 MSEK in milestone payments in coming quarters from the CNX partnership.

• Expects royalty income of 16–20 MSEK in 2026 from European launches.

• Aims for positive operating profit as early as 2026, driven by low costs and scalable licensing.

• Focus remains on signing additional licensing agreements for new markets, including the US.