Qlucore (QCORE) Q4 2025 earnings summary

Executive summary

• Net sales for the year declined 29% to SEK 10,208k, with Q4 sales up 8% year-over-year to SEK 3,461k.

• Operating loss (EBIT) for the year widened to SEK -20,514k from SEK -16,822k; Q4 EBIT loss improved to SEK -1,796k from SEK -5,001k.

• Net result for the year was SEK -20,535k, compared to SEK -15,681k last year; Q4 net loss narrowed to SEK -1,938k.

• First sale of CE-marked Qlucore Diagnostics achieved; product development prioritized over other segments.

• Cost savings of SEK 7,157k implemented, mainly via staff and consultant reductions.

Financial highlights

• Q4 net sales: SEK 3,461k (up 8% year-over-year); full-year net sales: SEK 10,208k (down 29%).

• Q4 EBIT: SEK -1,796k (improved from SEK -5,001k); full-year EBIT: SEK -20,514k (worse than SEK -16,822k prior year).

• Q4 net result: SEK -1,938k (improved from SEK -4,668k); full-year net result: SEK -20,535k (worse than SEK -15,681k).

• Cash flow from operating activities for the year: SEK -14,154k (improved from SEK -16,949k); net cash flow: SEK -23,560k (improved from SEK -40,746k).

• Liquid funds at year-end: SEK 5,258k, down from SEK 28,619k.

Outlook and guidance

• No formal market outlook or earnings forecast provided.

• Ongoing efforts to secure financing to ensure operations through summer 2025; liquidity injection planned.

• Continued focus on product development within the EU-funded Accelerator project and expanding sales of Qlucore Diagnostics and Insights.