ViroGates (VIRO) Q1 2026 earnings summary

Executive summary

• Revenue grew 8% year-over-year in Q1 2026, reaching TDKK 1,303, with net loss improving by 6% to TDKK -2,611 compared to Q1 2025.

• Longevity and preventive health segments became the largest revenue contributors, surpassing research for the first time.

• Strategic collaborations advanced, including a De Novo FDA application with Sobi and product development with GENSPEED Biotech.

• Cash and cash equivalents nearly doubled year-over-year to TDKK 22,280, supporting ongoing investments.

Financial highlights

• Gross profit increased 83% year-over-year to TDKK 976, while operating loss rose 4% to TDKK -2,871.

• Operating expenses increased 17% to TDKK -3,846, mainly due to higher R&D costs.

• Equity ratio improved to 63% from 50% in Q1 2025.

• Cash flows from operating activities were negative at TDKK -3,735, a significant increase in outflow compared to Q1 2025.

Outlook and guidance

• Full-year 2026 guidance maintained: revenue of DKK 6–7 million and EBIT of DKK -10 to -12 million.

• US longevity market launch preparations ongoing, with timing uncertainty reflected in guidance.

• Longevity segment expected to drive future growth, though current contributions remain modest.