Intervacc (IVACC) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 and the first nine months more than doubled year-over-year, driven by expanded market launches of StrangvacⓇ, now available in 16 European countries.

• Positive field experience and growing customer base, with strong support from key opinion leaders and scientific publications.

• Strategic strengthening through the recruitment of a new Head of Sales and Marketing to accelerate growth.

• US market approval process for StrangvacⓇ is progressing, with safety studies scheduled for 2025.

Financial highlights

• Q3 net sales reached SEK 5.4 million, up from SEK 2.5 million in Q3 2024; nine-month net sales were SEK 17.0 million, more than double the prior year.

• Q3 operating loss improved to SEK -15 million from SEK -22.8 million year-over-year; nine-month operating loss improved to SEK -47.1 million from SEK -58.8 million.

• Cash flow from operating activities for nine months was SEK -54.8 million, impacted by increased inventory.

• Rights issue in Q1 raised SEK 193.4 million, resulting in a period-end cash position of SEK 172.4 million.

• Equity at period-end was SEK 310.5 million, up SEK 148.2 million from year-end 2024.

Outlook and guidance

• Focus remains on expanding StrangvacⓇ volumes in Europe and achieving US market approval.

• Continued development of a vaccine against Streptococcus suis in pigs, supported by Eurostars 3 funding.

• Strong financial position supports ongoing growth and R&D initiatives.