PExA (PEXA) Q3 2025 earnings summary

Executive summary

• Transitioning from a research instrument provider to a diagnostics-focused company, emphasizing early lung cancer detection and diagnostics, with a strategic focus on long-term value creation and technology development.

• Instrument enables unique sampling from small airways, supporting biomarker discovery, pharmacogenetics, and diagnostics.

• Revenue for Q3 2025 was 44,489 SEK, up from 31,503 SEK year-over-year; nine-month revenue reached 357,069 SEK, up from 251,201 SEK.

• Fully guaranteed rights issue raised SEK 9.9 million, with most guarantors opting for shares, reflecting long-term confidence and securing funding for strategic development.

• Expansion of customer base and collaborations, including first instrument placement and data-sharing agreement in Australia, and a pilot study at Danderyd Hospital.

Financial highlights

• SEK 9.9 million raised in a fully guaranteed rights issue, improving liquidity and supporting development.

• Q3 net sales increased 41% year-over-year; nine-month sales up 42%.

• Q3 net loss was -2,574,777 SEK; nine-month net loss was -7,138,751 SEK, slightly improved from prior year.

• Cash and cash equivalents at period end were 8.06 MSEK; equity ratio at period end was 82.5%.

• Operating cash flow for Q3 was 6.37 MSEK; nine-month operating cash flow was 2.46 MSEK.

Outlook and guidance

• Strategic focus on becoming a lung cancer diagnostics company, with ongoing validation and regulatory pathway development for CE-marking.

• Funding from the rights issue enables continued development in three strategic focus areas.

• Expectation of further updates on strategic direction and regulatory progress in the coming months.

• Long-term goal is to enable earlier detection of lung diseases and expand into broader diagnostic markets.

• Continued expansion in biomarker discovery, pharmacogenetics, and pharmacodynamics, with increasing interest from the pharmaceutical industry.