Simris Group (SIMRIS) Q3 2024 earnings summary

Executive summary

• Net revenue for Q3 2024 rose 44% year-over-year to SEK 766k; interim period revenue up 13% to SEK 1,919k.

• EBITDA loss improved 34% in Q3 to SEK -2,971k; EBIT loss improved 18% to SEK -6,614k.

• Strategic collaborations established in bioconjugate and anti-aging research; focus remains on ADC payload technology.

• Major shareholder and chairman Steven Schapera passed away; board leadership transitioned to Jonathan Royce.

Financial highlights

• Q3 net revenue: SEK 766k (up 44%); interim net revenue: SEK 1,919k (up 13%).

• Q3 EBITDA: SEK -2,971k (improved 34%); interim EBITDA: SEK -14,413k (improved 15%).

• Q3 EBIT: SEK -6,614k (improved 18%); interim EBIT: SEK -25,473k (improved 9%).

• Cash at period end: SEK 1,970k, down 90% year-over-year.

• Cash flow from operating activities improved 32% in Q3 and 13% for the interim period.

Outlook and guidance

• Board warns current cash reserves may not cover operations through year-end; active efforts underway to secure new funding.

• Focus remains on ADC payload development, commercialization, and expanding partnerships.