Nicoccino (NICO) Q3 2025 earnings summary

Executive summary

• Net sales for Q3 2025 increased to 248 TSEK from 130 TSEK year-over-year, with a net loss of -1,620 TSEK, an improvement from -1,954 TSEK in Q3 2024.

• Product sampling in the UK showed positive consumer feedback, and a new distribution agreement was reached in Austria for a product launch in early 2026.

• Limited sales in Sweden led to the conclusion that the market is not ideal for the product due to consumer preferences.

• Ongoing contract manufacturing for Nutrinovate AB and continued discussions with potential partners.

Financial highlights

• Net sales for Q3 2025: 248 TSEK (130 TSEK in Q3 2024); net sales for Jan–Sep 2025: 610 TSEK (295 TSEK in Jan–Sep 2024).

• Net result for Q3 2025: -1,620 TSEK (-1,954 TSEK in Q3 2024); Jan–Sep 2025: -7,503 TSEK (-6,854 TSEK in Jan–Sep 2024).

• Cash flow from operations in Q3 2025: -741 TSEK (-2,937 TSEK in Q3 2024); cash at period end: 945 TSEK (1,360 TSEK in Q3 2024).

• Equity at period end: 8,701 TSEK (17,874 TSEK in Q3 2024); equity per share: 0.28 SEK (0.58 SEK in Q3 2024).

• No investments in fixed assets during the quarter.

Outlook and guidance

• A price campaign with a UK e-commerce distributor is ongoing to broaden the customer base, with results to be evaluated after November.

• Austrian launch of Nicotine Strips Menthol Strong planned for February 2026.