SyntheticMR (SYNT) Q4 2025 earnings summary

Executive summary

• Net sales for Q4 2025 rose 42% year-over-year to 18.0 million SEK, with full-year sales up 2% to 57.0 million SEK.

• Operating profit improved in Q4 to -5.3 million SEK from -7.5 million SEK, but full-year operating loss widened to -49.3 million SEK, mainly due to impairments and acquisition costs.

• Adjusted full-year operating loss (excluding impairments and acquisition costs) was -30.5 million SEK.

• Cash and cash equivalents at year-end were 7.4 million SEK, down from 51.0 million SEK the previous year.

• Major regulatory approvals were achieved in India, Europe, Japan, and South Korea for key products.

Financial highlights

• Q4 net sales: 17,984 TSEK (up 42% YoY); full-year net sales: 57,048 TSEK (up 2% YoY).

• Q4 operating margin: -30% (improved from -59% YoY); full-year operating margin: -86% (down from -33%).

• Q4 net loss: -5,989 TSEK; full-year net loss: -54,927 TSEK.

• Earnings per share before dilution: -0.12 SEK in Q4, -0.97 SEK for the year.

• Cash flow from operating activities: -4,259 TSEK in Q4, -5,472 TSEK for the year.

Outlook and guidance

• Focus on achieving profitability without further capital injections through commercial execution, recurring revenue growth, and cost discipline.

• Strategic priority to return to growth in the U.S. market.

• Long-term growth prospects supported by structural shifts in healthcare, especially in Alzheimer's monitoring.