Medclair (MCLR) Q2 2025 earnings summary

Executive summary

• Achieved strong, profitable growth with 24% year-over-year revenue increase in Q2 2025, driven by expanding sales and operational leverage.

• Significant momentum in healthcare and recycling sectors, with new orders and market entries in Denmark, UK, and Singapore.

• Over 350 installations in 20 countries, supporting climate and workplace safety goals.

Financial highlights

• Q2 2025 net revenue: 15.8 MSEK (up 24% YoY); EBITDA: 4.4 MSEK (0.2 MSEK YoY); net income: 2.5 MSEK (4.0 MSEK YoY).

• H1 2025 net revenue: 31.4 MSEK (up 29% YoY); EBITDA: 10.0 MSEK (1.5 MSEK YoY); net income: 6.5 MSEK (3.8 MSEK YoY).

• Earnings per share after tax: 0.03 SEK in Q2 (0.05 SEK YoY); 0.08 SEK for H1 (0.05 SEK YoY).

• Cash flow for Q2: -3.2 MSEK, impacted by higher working capital tied to strong sales.

• Cash and equivalents at period end: 1.3 MSEK (9.96 MSEK YoY); equity ratio: 79%.

Outlook and guidance

• Market demand for sustainable nitrous oxide solutions is rapidly increasing across healthcare, recycling, and pharmaceutical sectors.

• Total addressable market (TAM) estimated at 17 billion SEK; serviceable available market (SAM) at 3 billion SEK, with US market expected to be included soon.

• Focus remains on controlled, scalable growth and international expansion, prioritizing markets with strong regulatory drivers.