Scandinavian ChemoTech (CMOTEC) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 was 1,499 KSEK, up from 1,080 KSEK year-over-year, with all sales in Animal Care.

• Net loss before tax improved to -3,243 KSEK in Q3 (from -4,526 KSEK), and to -10,550 KSEK for the nine months (from -15,943 KSEK).

• Strategic focus on Animal Care is yielding results, with growing interest from clinics and increased monthly treatments.

• Human Care segment is progressing with regulatory efforts, especially in India, despite some administrative delays in clinical studies.

• Cost control and increased sales have reduced the need for external financing, though capital raising continues for market expansion.

Financial highlights

• Q3 net sales: 1,499 KSEK (1,080 KSEK in Q3 2023); nine-month sales: 4,525 KSEK (2,315 KSEK in 2023).

• Q3 operating loss: -3,178 KSEK (-4,026 KSEK in Q3 2023); nine-month operating loss: -9,735 KSEK (-14,930 KSEK in 2023).

• Cash flow from operations: -5,567 KSEK in Q3 (-4,649 KSEK in Q3 2023); -10,973 KSEK for nine months (-14,831 KSEK in 2023).

• Equity at period end: 8,965 KSEK (6,894 KSEK in 2023); equity ratio: 60% (40%).

• Cash and equivalents: 1,577 KSEK at period end (1,160 KSEK in 2023).

Outlook and guidance

• Focus remains on cost control and resource optimization, with ongoing efforts to secure additional funding for Animal Care market initiatives.

• At least one new treatment kit is targeted for launch in Q1 2025 to strengthen competitive position and revenue streams.

• Management expects continued growth in Animal Care and is optimistic about regulatory progress in Human Care.