Simris Group (SIMRIS) Q4 2024 earnings summary

Executive summary

• Net revenue for Q4 2024 fell 63% year-over-year to SEK 971k; full-year revenue declined 34% to SEK 2,890k.

• EBITDA loss improved 41% in Q4 to SEK -3,180k and 21% for the year to SEK -17,593k.

• EBIT loss for Q4 worsened 6% to SEK -9,241k, but full-year EBIT loss improved 5% to SEK -34,714k.

• Cash flow from operating activities improved 91% in Q4 and 50% for the year, but cash at period end dropped 66% to SEK 1,946k.

• Major owner and chairman Steven Schapera passed away; Jonathan Royce became chairman.

Financial highlights

• Q4 net revenue: SEK 971k (down from SEK 2,657k); full-year: SEK 2,890k (down from SEK 4,354k).

• Q4 EBITDA: SEK -3,180k (improved from SEK -5,403k); full-year: SEK -17,593k (improved from SEK -22,366k).

• Q4 EBIT: SEK -9,241k (down from SEK -8,683k); full-year: SEK -34,714k (improved from SEK -36,635k).

• Cash at year-end: SEK 1,946k (down from SEK 5,665k).

• Equity at year-end: SEK 5,641k (down from SEK 25,614k); solidity 3.6% (down from 14.7%).

Outlook and guidance

• Board warns current cash reserves may not cover operations through year-end; active efforts underway to secure new funding via loans, investments, or partnerships.

• Simris remains focused on advancing ADC payload technology and expanding collaborations in oncology.