Arctic Bioscience (ABS) Q4 2025 TU earnings summary

Executive summary

• Q4 2025 sales revenue reached NOK 13.9 million, with strong order intake into 2026 for the nutraceutical business.

• Total 2025 sales revenue was NOK 39.8 million, down NOK 3.7 million year-over-year due to a late 2024 product recall and related extraordinary costs.

• HRO350 demonstrated significant reduction in systemic inflammation in the HeROPA trial, though the primary endpoint was not met; further development is being considered.

• Cost reduction initiatives led to NOK 13.6 million lower operating costs compared to 2024.

• Positive pilot study results in glaucoma and promising HeROPA trial data for psoriasis support future growth.

Financial highlights

• 2025 total sales revenue was NOK 39.8 million, with a gross margin of 27.1%.

• EBITDA for 2025 was NOK -28.3 million, an improvement from NOK -42.6 million in 2024.

• Operating costs reduced by NOK 13.6 million year-over-year due to cost-saving measures.

• Available liquidity at year-end was NOK 5.2 million.

• Cash flow from operations was NOK -22.7 million, mainly due to negative operating results.

Outlook and guidance

• Strong order outlook for 2026 indicates expected growth in the nutraceutical business.

• B2C launches planned in more European countries and B2B expansion in Southeast Asia and the US.

• Further development of HRO350 and pharma projects will be funded through partnerships or specific project funding.

• Liquidity situation is closely monitored, with ongoing dialogue with the bank and board oversight.

• Data from HeROPA trial to be published and presented in 2026, increasing visibility.