SHT Smart High-Tech (SHT) Q1 2025 earnings summary

Executive summary

• Net sales increased 182% year-over-year to 2,551 TSEK for Q1 2025, driven by higher deliveries, notably to Thermal Grizzly.

• Operating loss widened to -12,835 TSEK from -9,777 TSEK year-over-year, reflecting higher costs from expansion and personnel.

• Cash flow from operations was -8,807 TSEK, but total cash flow was positive at 11,070 TSEK due to proceeds from a directed share issue.

• Cash position at period end was 115,213 TSEK, significantly up from 7,126 TSEK a year earlier.

• Strategic partnership negotiations with Henkel advanced, and a new CEO, Mats Bergh, was appointed.

Financial highlights

• Net sales: 2,551 TSEK (906 TSEK Q1 2024); operating income: -12,835 TSEK (-9,777 TSEK Q1 2024); net result: -12,870 TSEK (-9,821 TSEK Q1 2024).

• Other operating income: 1,242 TSEK, mainly from R&D grants.

• Operating expenses rose to 17,011 TSEK (11,600 TSEK Q1 2024), with personnel costs at 7,228 TSEK.

• Investments in machinery and equipment totaled 8,696 TSEK; intangible assets (mainly R&D and patents) 611 TSEK.

• Earnings per share: -0.45 SEK (-0.55 SEK Q1 2024).

Outlook and guidance

• Ongoing investments in production capacity in Sweden and China to meet growing demand.

• Focus on scaling up volume production and strengthening R&D, including in-house graphene raw material manufacturing.

• Strategic partnership with Henkel expected to accelerate market access and competitiveness.