ProstaLund (PLUN) Q2 2025 earnings summary

Executive summary

• Net sales for Q2 2025 were MSEK 2.1, down 24.8% year-over-year, with H1 2025 net sales at MSEK 5.9, a 7.1% decrease from H1 2024, mainly due to lower standalone product sales.

• Gross margin improved to 75.8% in Q2 2025 and 74.7% for H1 2025, up from 74.1% and 71.7% respectively in 2024.

• Operating loss for Q2 2025 was MSEK -6.3, and for H1 2025 MSEK -11.4, both slightly improved from prior year.

• Strategic review initiated in May due to liquidity concerns; leadership changes included CEO and Chairman resignations.

• CoreTherm® Eagle launched in Sweden and Denmark, with positive initial results and ongoing international expansion discussions.

Financial highlights

• Q2 2025 net sales: MSEK 2.1 (Q2 2024: MSEK 2.8); H1 2025 net sales: MSEK 5.9 (H1 2024: MSEK 6.3).

• Q2 2025 gross margin: 75.8% (Q2 2024: 74.1%); H1 2025 gross margin: 74.7% (H1 2024: 71.7%).

• Q2 2025 operating loss: MSEK -6.3 (Q2 2024: MSEK -7.2); H1 2025 operating loss: MSEK -11.4 (H1 2024: MSEK -11.9).

• Q2 2025 loss after tax: MSEK -6.5 (Q2 2024: MSEK -7.1); H1 2025 loss after tax: MSEK -11.6 (H1 2024: MSEK -12.0).

• Cash flow from operating activities for H1 2025: MSEK -6.5 (H1 2024: MSEK -12.7); cash and cash equivalents at period end: MSEK 2.4 (2024: MSEK 3.4).

Outlook and guidance

• Liquidity remains a significant challenge; cost-saving measures and new financing are being pursued.

• Strategic review ongoing, with plans to delist from Nasdaq First North Growth Market pending EGM approval.

• Management expresses confidence in continued product rollout and international expansion despite financial headwinds.