Poxel (POXEL) Q2 2025 earnings summary

Executive summary

• Revenue nearly doubled year-over-year in H1 2025, while net loss was significantly reduced to €2.6 million from €7.3 million in H1 2024.

• Receivership proceedings commenced in August 2025, with a six-month observation period and a finalized recovery plan pending court approval.

• Change in governance with new board members and CEO appointments during the observation period.

Financial highlights

• Revenue for H1 2025 was €2.18 million, up 88% from €1.16 million in H1 2024, mainly from royalties on TWYMEEGⓇ sales in Japan.

• Gross margin improved to €306 thousand from €16 thousand year-over-year.

• Net loss narrowed to €2.62 million from €7.26 million in H1 2024.

• General and administrative expenses were reduced to €1.76 million from €3.21 million, reflecting cost-saving measures.

• Financial loss decreased to €653 thousand from €3.55 million, aided by foreign exchange gains.

Outlook and guidance

• Recovery plan finalized and awaiting court decision, with the aim to secure new partnerships and monetize assets.

• TWYMEEGⓇ sales in Japan expected to reach ¥11.2 billion for FY 2025, a 47% increase year-over-year.

• Double-digit royalty growth and additional milestone payments anticipated beyond 2025.