PExA (PEXA) Q2 2025 earnings summary

Executive summary

• Revenue for Q2 2025 was 312,582 SEK, up from 51,430 SEK year-over-year; H1 2025 revenue was 312,581 SEK, up from 219,698 SEK year-over-year.

• Net loss after financial items for Q2 2025 was -2,315,399 SEK, an improvement from -3,001,667 SEK year-over-year; H1 2025 net loss was -4,563,974 SEK, improved from -4,950,311 SEK.

• Cash and cash equivalents at period end were 1,683,318 SEK, down from 5,408,119 SEK year-over-year.

• Strategic focus sharpened on early diagnostics, pharmacokinetics, and integrated solutions for lung disease research and clinical applications.

Financial highlights

• Gross margin not explicitly stated, but operating costs remain high relative to revenue.

• Earnings per share for Q2 2025 was -0.04 SEK (vs. -0.07 SEK), and for H1 2025 was -0.08 SEK (vs. -0.12 SEK).

• Equity ratio at period end was 67.1%, down from 77.7% year-over-year.

• Cash flow from operations for H1 2025 was -3,910,114 SEK (vs. -4,191,827 SEK year-over-year).

Outlook and guidance

• Fully guaranteed rights issue of approximately 9.9 MSEK initiated in Q3 2025 to fund continued development in three strategic focus areas.

• Emission proceeds expected to secure operations according to communicated plan.

• Ongoing and upcoming clinical studies expected to generate important results in lung embolism, COPD, and lung cancer.