Odinwell (ODIN) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 was 988 KSEK, nearly unchanged from 987 KSEK in Q3 2024, with a net loss after tax of -1,400 KSEK compared to -1,211 KSEK last year.

• For the first nine months, revenue was 3,079 KSEK (down from 3,638 KSEK), and net loss after tax was -4,807 KSEK (vs. -4,151 KSEK year-over-year).

• Key milestones included promising preliminary results from sensor tests, a new mobile data access milestone, a prototype handheld device, and scientific publications on the bacteria sensor.

• Capital from a recent rights issue enabled three major projects, including a clinical pilot study and new product development.

• Additional financing is expected in November through warrants, supporting further R&D and business development.

Financial highlights

• Q3 operating income was -1,501 KSEK (vs. -1,434 KSEK in Q3 2024); EPS for Q3 was -0.04 SEK (improved from -0.05 SEK).

• For the first nine months, operating income was -4,971 KSEK (vs. -5,121 KSEK), and EPS was -0.12 SEK (improved from -0.17 SEK).

• Cash position at quarter-end was 3,485 KSEK, with short-term investments of 1,900 KSEK.

• Cash flow from operations for the nine months was -3,921 KSEK.

• Equity ratio (soliditet) was 96% at quarter-end.

Outlook and guidance

• Continued focus on R&D and building strategic partnerships, with upcoming financing to support these efforts.

• Participation in industry conferences and ongoing customer engagement are expected to drive future growth.