ChemoMetec (CHEMM) Q4 25/26 earnings summary

Executive summary

• Revenue reached DKK 511 million for FY 2025/2026, up 3% year-over-year (7% at constant FX), driven by strong instrument sales, especially XcytoMatic and NC-203.

• EBITDA grew 9% to DKK 281 million, with margin rising to 55% due to higher revenue, improved profitability, and reduced staff costs.

• Life science segment now represents 95% of revenue, growing 6% to DKK 485 million, while animal semen, beer, and milk declined 32% as the company exits these markets.

• U.S. and Canada revenue declined 6% (up 1% at constant FX), Europe rose 14%, and rest of world grew 21%.

• Strong balance sheet with DKK 290 million in cash and DKK 725 million in equity; share buyback program repurchased 1.2% of share capital.

Financial highlights

• Instrument revenue increased 13%, led by XcytoMatic and NC-203, with XcytoMatic sales jumping from DKK 27.7 million to DKK 68.1 million.

• Service revenue rose 4%, while consumables declined 4% due to the U.S. government shutdown and fewer patients treated.

• Q4 instrument sales hit a record DKK 17.7 million, with over 50% from XcytoMatic and NC-203.

• CapEx for the year was DKK 100 million, focused on software, automation, product development, and facilities.

Outlook and guidance

• FY 2026/2027 revenue expected at DKK 545–575 million (7–13% growth), EBITDA at DKK 300–313 million.

• CapEx guidance for FY 2026/2027 is DKK 120 million, reflecting ongoing investments in automation and software.

• Growth expected to be driven primarily by instrument sales, especially replacements for NC-200 and increased demand for XcytoMatic.

• Guidance does not include upside from potential Roche, Tecan, or Hamilton collaborations.