Acarix Publishes Interim Report, Third quarter 2025

“Q3 was a decisive quarter for Acarix, marked by exceptional growth and disciplined execution across our markets,” said Aamir Mahmood, President & CEO of Acarix. “Revenue increased 137% year-over-year, driven by our first commercial sales in the MENA region and continued momentum in the United States. At the same time, operating costs decreased by 43% and net loss improved by 49%, underscoring our ability to scale efficiently while maintaining financial discipline. In the U.S., three of the five largest payors have now removed the ‘experimental’ label for CADScor®, and we secured a second fixed-rate reimbursement agreement at USD 300 per test—further validated in October when HealthChoice, the State of Oklahoma’s self-funded plan, implemented coverage. Internationally, our distributor model is proving both scalable and capital-efficient, laying the foundation for continued expansion in 2026. With strong commercial traction, expanding payer confidence, and advancing innovation like our Heart Failure Seismo algorithm, which has been accepted for presentation at the American Heart Association Congress in November 2025, Acarix is well positioned to deliver sustainable growth and long-term value as we continue to redefine frontline cardiac diagnostics.”

Third quarter 2025 compared to the same period in 2024

• Total revenue amounted to SEK 2,350 thousand (993), an increase of 137%.
• In the U.S., revenue amounted to SEK 766 thousand (652), an increase of 17%.
• A total of 39 CADScor Systems (20) were delivered, an increase of 95%. Twenty-two systems were consigned in the U.S. market and 17 systems were sold in the MENA region.
• A total of 211 boxes of patches (117) were sold, reflecting an 80% increase (1 box consists of 20 patches).
• In the U.S., patch sales amounted to 78 boxes (69), an increase of 13%.
• Gross margin amounted to 85% (90).
• Operating costs amounted to SEK 11,168 thousand (19,447), a decrease of 43%.
• Net loss was SEK –9,445 thousand (−18,574), an improvement of 49%.
• Cash flow from operating activities was SEK -7,161 thousand (-12,990).
• Earnings per share were SEK -0.01 (-0.02).

First nine months of 2025 compared to the same period in 2024

• Total revenue amounted to SEK 5,220 thousand (4,503), an increase of 16%.
• In the U.S., revenue amounted to SEK 2,596 thousand (2,656), a decrease of 2%.
• A total of 78 CADScor Systems (48) were delivered, an increase of 62%.
• In the U.S., 60 CADScor Systems (47) were delivered, an increase of 28%.
• A total of 508 boxes of patches (420) were sold, an increase of 21%.
• In the U.S., 254 boxes of patches (184) were sold, an increase of 38%.
• Gross margin amounted to 86% (91).
• Operating costs amounted to SEK 40,521 thousand (54,156), a decrease of 25%.
• Net loss amounted to SEK -36,417 thousand (-50,166), an improvement of 27%.
• Cash flow from operating activities was SEK -31,493 thousand (-46,685).
• Earnings per share amounted to SEK –0.03 (–0.06).
• Average number of shares amounted to 1,123,320,142 (866,503,102).

Webcast presentation of the Q3 interim report is available on: https://www.acarix.com/investor-presentations/

Link to the Acarix financial reports: https://www.acarix.com/for-investors/financial-reports-and-calendar