Scandinavian ChemoTech (CMOTEC) Q3 2025 earnings summary

Executive summary

• Q3 2025 saw continued strong momentum, with Animal Care division sales nearly matching the previous quarter's record and total revenue for the first nine months surpassing the entire previous year.

• The U.S. market is the primary growth driver, with rapid adoption of vetlQure systems; Europe is also growing steadily.

• Animal Care surpassed 3,000 treatments performed worldwide, highlighting the impact and acceptance of TSE technology.

• Recruitment for specialized sales roles remains challenging, but the marketing team was expanded to support growth.

• R&D investments continue, focusing on software and advanced treatment kits to maintain technological leadership.

Financial highlights

• Q3 net sales: 3,324 KSEK (up from 1,499 KSEK year-over-year); nine-month net sales: 9,637 KSEK (up from 4,525 KSEK year-over-year).

• Q3 net loss: -1,267 KSEK (improved from -3,243 KSEK year-over-year); nine-month net loss: -5,532 KSEK (improved from -10,550 KSEK year-over-year).

• Cash flow from operating activities for Q3: -1,663 KSEK (improved from -5,567 KSEK year-over-year); for nine months: -3,406 KSEK (improved from -10,973 KSEK year-over-year).

• Equity as of September 30: 6,193 KSEK; equity/assets ratio: 36% (down from 61% year-over-year).

• Cash and cash equivalents: 4,290 KSEK (up from 1,577 KSEK year-over-year).

Outlook and guidance

• Focus for year-end is on achieving cash flow positivity, growing recurring revenues from treatment kits, and expanding in North America and Europe.

• Management expects continued growth and aims to end the year on a high note.