Scandinavian ChemoTech (CMOTEC) Q4 2025 earnings summary

Executive summary

• Achieved stronger-than-expected Q4 performance with significant revenue growth and improved cash flow year-over-year.

• Animal Care segment drove all sales, with treatment kit volumes more than doubling from 2024.

• Clinical validation of Tumour Specific Electroporation (TSE) technology in veterinary oncology reinforced market positioning.

• Strategic focus sharpened, with North America as the primary growth market and ongoing clinical progress in India.

Financial highlights

• Q4 net sales: 2,648 KSEK (up from 2,041 KSEK in Q4 2024); full-year net sales: 12,285 KSEK (up from 6,566 KSEK in 2024).

• Q4 net loss: -2,524 KSEK (improved from -3,167 KSEK); full-year net loss: -8,056 KSEK (improved from -13,717 KSEK).

• Q4 cash flow from operations: -338 KSEK (improved from -2,172 KSEK); full-year: -3,744 KSEK (improved from -13,145 KSEK).

• Cash and cash equivalents at year-end: 3,668 KSEK (up from 949 KSEK).

• Equity/assets ratio at year-end: 24% (down from 45%).

Outlook and guidance

• Management expects continued growth, with North America as the cornerstone of the strategy.

• Ongoing R&D and next-generation vetIQure platform development planned, with initial tests targeted for 2026.

• Additional funding required to maintain operations over the next twelve months; management actively seeking financing.