Scandinavian ChemoTech (CMOTEC) Q4 2024 earnings summary

Executive summary

• Achieved record revenue in 2024, with Q4 being the strongest quarter; total sales reached 6,566 KSEK, all from Animal Care.

• Animal Care segment showed strong growth, with 23 installed Vetiqure devices and treatment kits making up nearly 50% of Q4 revenues.

• Human Care projects progressed, including regulatory advances and a new patent in India, though clinical trial recruitment was slower than expected.

• Company reorganized business units, with Animal Care transitioning to the U.S. subsidiary and Human Care to remain in Sweden.

Financial highlights

• Q4 net sales: 2,041 KSEK (507 KSEK in Q4 2023); full-year net sales: 6,566 KSEK (2,822 KSEK in 2023).

• Q4 operating loss: -3,061 KSEK (-5,307 KSEK in Q4 2023); full-year operating loss: -12,796 KSEK (-20,237 KSEK in 2023).

• Q4 net loss: -3,167 KSEK (-5,148 KSEK in Q4 2023); full-year net loss: -13,717 KSEK (-21,091 KSEK in 2023).

• Cash flow from operating activities: -2,172 KSEK in Q4 (-3,396 KSEK in Q4 2023); -13,145 KSEK for the year (-18,227 KSEK in 2023).

• Cash and cash equivalents at year-end: 949 KSEK (923 KSEK in 2023).

Outlook and guidance

• Focus remains on expanding business, securing regulatory approvals, and increasing TSE technology adoption in key markets.

• Animal Care and Human Care will be reported separately from Q1 2025; Animal Care expected to continue positive momentum.

• Management will continue strict cost control and seek selective funding to accelerate Animal Care growth.