Nicoccino (NICO) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 increased to 134 TSEK from 86 TSEK year-over-year, while net loss narrowed to -1,940 TSEK from -2,040 TSEK.

• Cash flow from operations improved to -1,761 TSEK from -2,474 TSEK year-over-year; cash at period end was 1,633 TSEK.

• Equity at quarter end was 14,264 TSEK, down from 22,687 TSEK a year earlier.

• New credit agreements extended total available credit to 16.4 MSEK, with all loans due by April 30, 2026.

• U.S. market entry advanced via an agreement for a Premarket Tobacco Application, with investment expected to reach 110 MSEK over two years.

Financial highlights

• Net sales rose 56% year-over-year to 134 TSEK; operating costs were -2,025 TSEK (vs. -1,989 TSEK prior year).

• Net loss per share improved to -0.06 SEK from -0.07 SEK year-over-year.

• Cash flow from operations per share was -0.06 SEK, up from -0.08 SEK.

• Investments in fixed assets totaled 33 TSEK (vs. 48 TSEK prior year).

• Soliditet (equity ratio) declined to 57% from 79% year-over-year.

Outlook and guidance

• Health Canada’s regulatory process for Nicoccino’s product is delayed, with a decision not expected before autumn 2025.

• U.S. regulatory application process is underway, with exclusivity for the U.S. partner contingent on minimum sales volumes.