Intervacc (IVACC) Q1 2025 earnings summary

Executive summary

• Net sales nearly doubled year-over-year to SEK 4.6 million in Q1 2025, driven by record StrangvacⓇ sales, especially in the UK.

• Operating loss improved by SEK 4.5 million to SEK -13.5 million, reflecting higher sales and lower costs.

• Cash position strengthened by SEK 181.7 million to SEK 216.1 million, following an oversubscribed rights issue raising SEK 225 million.

• EMA and VMD approved improved manufacturing processes for StrangvacⓇ, supporting margin expansion.

• Dechra Pharmaceuticals placed SEK 5.8 million in orders for StrangvacⓇ, expanding distribution in Europe and launching in Finland post-period.

Financial highlights

• Net sales: SEK 4.6 million (Q1 2025) vs. SEK 2.4 million (Q1 2024).

• Operating loss: SEK -13.5 million (Q1 2025) vs. SEK -18.0 million (Q1 2024).

• Result after financial items: SEK -13.2 million (Q1 2025) vs. SEK -17.4 million (Q1 2024).

• Cash flow from operating activities: SEK -11.7 million (Q1 2025) vs. SEK -16.3 million (Q1 2024).

• Cash at period end: SEK 216.1 million (Q1 2025) vs. SEK 34.4 million (FY 2024).

• Equity ratio: 94% (Q1 2025) vs. 92% (Q1 2024).

• Earnings per share: SEK -0.08 (Q1 2025) vs. SEK -0.23 (Q1 2024).

Outlook and guidance

• Growth-oriented business plan underway, with focus on volume expansion and margin improvement.

• Financing secured for working capital and US market entry for StrangvacⓇ.

• StrangvacⓇ launch in Finland and ongoing regulatory process for US approval.