ViroGates (VIRO) Q4 2025 earnings summary

Executive summary

• Transitioned focus from acute care to preventive health and longevity, expanding commercial reach and recurring customer base in these segments.

• Achieved proof of concept for improved suPARnostic POC+ device, targeting decentralized testing and wellness markets.

• Strengthened financial position with a DKK 19.3 million capital raise and stable recurring customer base across 20+ countries.

• Advanced regulatory progress in the US (FDA de novo pathway) and Europe (IVDR compliance), supporting future market expansion.

Financial highlights

• Net revenue increased to DKK 5.3 million in 2025 from DKK 4.9 million in 2024.

• Net loss reduced to DKK -10.4 million from DKK -14.3 million year-over-year, reflecting higher income and lower operating costs.

• Cash and cash equivalents at year-end were DKK 26.3 million, up from DKK 12.2 million.

• Equity rose to DKK 19.4 million from DKK 10.8 million, supported by the capital raise.

• Operating expenses decreased to DKK -17.1 million from DKK -19.4 million, mainly due to lower sales and distribution costs.

Outlook and guidance

• Focus for 2026 includes US FDA de novo filing, IVDR compliance in Europe, clinical development and launch of suPARnostic POC+, and commercial scaling with strategic partners.

• Management paused guidance on achieving cash flow positivity due to uncertainties in new market segments.