SyntheticMR (SYNT) Q2 2025 earnings summary

Executive summary

• Net sales for Q2 2025 increased 4% year-over-year to SEK 12.4 million, with notable growth in the US and Europe but a decline in Asia due to postponed business and delayed deliveries.

• Operating profit for Q2 was SEK -8.6 million, and net profit was SEK -10.4 million, reflecting continued losses.

• The acquisition of Combinostics Oy was completed in January, strengthening the product portfolio and recurring revenue base.

• Leadership changes included the appointment of a new CEO, Lena Åredal, effective September 1, 2025.

Financial highlights

• Q2 net sales: SEK 12.4 million (up 4% year-over-year); H1 net sales: SEK 26.6 million (down 10% year-over-year).

• Q2 operating profit: SEK -8.6 million; H1 operating profit: SEK -18.9 million (adjusted: SEK -18.5 million).

• Q2 net profit: SEK -10.4 million; H1 net profit: SEK -23.7 million.

• Cash and cash equivalents at period end: SEK 19.4 million.

• Cash flow from operating activities: SEK 0.5 million in Q2; SEK 2.1 million in H1.

Outlook and guidance

• Uncertainty in the US market due to potential NIH funding cuts is impacting demand, especially for SyMRI.

• Regulatory approvals for SyMRI 3D in Japan and South Korea open new market opportunities.

• Management remains confident in the long-term position despite macroeconomic and market challenges.