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SenzaGen’s Year-End Report 2025 | SenzaGen closes the year with continued strong GARD® sales

Message from the CEO

“As previously stated in the half-year report, 2025 performance was stronger in the second half of the year. GARD® continued to strengthen its market position with positive sales growth, driven in part by major orders from the US. This contributed to record-high GARD® sales in Q4 with 13% growth (18% at constant exchange rates). For the full year, the Group's growth was 4% at constant exchange rates. The number of orders received was particularly high in Q4, far above sales and previously reported figures during the year.

Our continued cost discipline plays a key role in our path to profitability and contributed to a lower cost base for the full year despite negative foreign exchange effects. The gross margin for the full year was stable at 65%, while the Q4 margin saw short-term decline, mainly due to a temporary change in the product mix. I am very pleased that, heading into 2026, we have a strong order book, a lower cost base, and therefore are starting the year stronger than ever to deliver growth and profitability in line with our 2030 growth plan.”

Peter Nählstedt, President and CEO

Q4 1 October–31 December 2025

Net sales totaled SEK 15.6 (15.5) million.
EBIT amounted to SEK -4.0 (-2.8) million.
Earnings per share were SEK -0.15 (-0.11).

Full year 1 January–31 December 2025

Net sales totaled SEK 58.0 (57.7) million.
EBIT amounted to SEK -11.6 (-11.2) million.
Earnings per share were SEK -0.39 (-0.39).
Cash and cash equivalents at 31 December amounted to SEK 26.8 (39.6) million.
The board proposes that no dividend be paid to the Company’s shareholders.

Significant events during the fourth quarter

SenzaGen secured a GARD® order of approximately SEK 2.5 million from a leading US based global tech company, strengthening its presence in a growing customer segment where its expertise in testing solid materials is key.
An order worth approximately SEK 1.5 million was received from a leading US chemicals company for GARD®skin and complementary methods, reinforcing SenzaGen’s position in advanced safety testing of challenging substances.
The Company presented its organic growth plan and strategic priorities through 2030 at a well-received capital markets day in Stockholm. The plan comprises three phases and is supported by strategic acquisitions.
Expanded and more efficient laboratory facilities at the company headquarters in Lund were opened to increase capacity in line with the 2030 Growth Plan.
The UK government announced a strategy to accelerate the phase-out of animal testing by 2026, including skin allergy testing where SenzaGen’s GARD® platform holds a leading position.

Transition to IFRS
As from the year-end report for 2025, SenzaGen has changed its accounting principles from K3 to International Financial Reporting Standards (IFRS) as issued by the IASB and adopted by the EU. Comparative figures have been restated as from 1 January 2024. The transition aims to enhance comparability with other listed companies and to strengthen transparency for international investors, as well as to enable a potential future change of the company’s listing. The main effects relate to the accounting treatment of group companies, including the recognition of goodwill. A detailed description of the transition and its effects is presented in the 2025 year-end report.

Webcast presentation
SenzaGen is pleased to invite press and investors to a livestream presentation at 9:00 on Feb 13. The presentation will be given by SenzaGen’s President and CEO Peter Nählstedt, followed by a Q&A session moderated by Rodney Alfvén, partner at Hallvarsson & Halvarsson.

Time: Friday, Feb 13, 9:00

Webcast
If you wish to participate via webcast please use the link below. Via the webcast you are able to ask written questions.
https://senzagen.events.inderes.com/q4-report-2025

Teleconference
If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://events.inderes.com/senzagen/q4-report-2025/dial-in

The presentation can be watched afterwards at SenzaGen’s website: https://senzagen.com/investors/presentations/

About us

SenzaGen is a corporate group on its way to becoming a leading player in non-animal testing, driving the shift from animal experiments to methods that more accurately reflect human biology. Leveraging cutting-edge technology, the company offers high-performance non-animal test methods and expert advisory services. These methods are more effective, precise, and cost-efficient than traditional animal-based approaches and contribute to a substantial reduction in the number of laboratory animals used worldwide. SenzaGen’s growth strategy focuses on strengthening its position in both established and new markets through direct sales, complementary partnerships, an expanded test portfolio, and recognized thought leadership. The company also maintains a long-term acquisition agenda to accelerate commercial potential. SenzaGen has its headquarters and GLP-certified laboratory in Lund, Sweden, along with subsidiaries in Italy and the USA. For more information, visit www.senzagen.com.

SenzaGen is listed on Nasdaq Stockholm First North (ticker: SENZA). FNCA Sweden AB is the company’s Certified Adviser.