Nicoccino (NICO) Q4 2025 earnings summary

Executive summary

• Net sales for Q4 2025 increased to 279 TSEK from 99 TSEK year-over-year, but net loss widened to -2,690 TSEK from -1,670 TSEK.

• Major launches of Nicotine Strips secured in Austria and South Korea, with significant retail expansion planned for 2026.

• Distribution agreement in South Africa signed post-period; U.S. partnership with Zolv ended, with new discussions ongoing.

Financial highlights

• Q4 2025 net sales: 279 TSEK (99 TSEK in Q4 2024); full year 2025: 889 TSEK (394 TSEK in 2024).

• Q4 net result: -2,690 TSEK (-1,670 TSEK); full year: -10,193 TSEK (-8,524 TSEK).

• Cash flow from operations Q4: -1,392 TSEK (-827 TSEK); year-end cash: 932 TSEK (1,587 TSEK).

• Equity at year-end: 6,011 TSEK (16,204 TSEK); equity per share: 0.19 SEK (0.53 SEK).

• No investments in fixed assets during Q4.

Outlook and guidance

• Nicotine Strips to be available in several hundred stores in Austria and South Korea by mid-2026, up from 25 currently.

• Further consumer acquisition initiatives and trade fair participation planned for 2026.

• Ongoing discussions for new U.S. distribution partners.