Odinwell (ODIN) Q2 2025 earnings summary

Executive summary

• Revenue for Q2 2025 was 976 KSEK, down from 1,222 KSEK year-over-year; H1 2025 revenue was 2,091 KSEK, down from 2,651 KSEK.

• Operating result for Q2 2025 was -1,704 KSEK (Q2 2024: -1,670 KSEK); H1 2025 operating result was -3,470 KSEK (H1 2024: -3,687 KSEK).

• Net result after tax for Q2 2025 was -1,675 KSEK (Q2 2024: -1,195 KSEK); H1 2025 net result was -3,408 KSEK (H1 2024: -2,940 KSEK).

• Key focus during the quarter was the clinical pilot study, with promising sensor results for bacterial detection.

Financial highlights

• Cash position at June 30, 2025: 5,461 KSEK; short-term investments: 1,830 KSEK.

• Equity ratio (soliditet) at period end: 96%.

• Cash flow from operating activities for H1 2025: -3,042 KSEK.

• Earnings per share for Q2 2025: -0.04 SEK (Q2 2024: -0.05 SEK); H1 2025: -0.09 SEK (H1 2024: -0.12 SEK).

Outlook and guidance

• Next phase includes industrialization of the product, with focus on testing, documentation, regulatory activities, and supplier evaluation.

• A new pre-clinical research project will start in autumn, focusing on technical aspects of the solution.

• Results from the clinical pilot study to be summarized and presented in Q3 2025.