Bactiguard Holding Ab · OMXSTO:BACTI_B
Bactiguard Holding Ab — Q4 2025 Earnings Presentation
15 slides from Bactiguard Holding Ab's earnings presentation, Feb 5, 2026
Slide 1: A year of strategic execution concluded with a strong Q4
A year of strategic execution concluded with a strong Q4 Q4 and year-end 2025 presentation Thursday 5 February 2026 Christine Lind, CEO Patrick Bach, CFO
Slide 2: Stable underlying revenue in license business 2025 after a strong Q4
Stable underlying revenue in license business 2025 after a strong Q4 Key figures Q4 & Full-year 2025 (2024) Highlights Q4 Q4 2025 • Total revenue growth of 4%, excl. currency effect Total revenue 65.6 (68.3) MSEK 228.8 (261.9) MSEK • Increased EBITDA and positive net result • Updated agreement with
Slide 3: Strategic execution in 2025 strengthened partnerships through enhanced ways of working
Strategic execution in 2025 strengthened partnerships through enhanced ways of working Advanced technology to R&D prevent medical device Medical Wound Management portfolio related infections Regulatory Advance current and develop Continue to invest in key Grow profitably across product new partnersh
Slide 4: Solid progress in pipeline
Solid progress in pipeline Partnership snapshot Q4 2025 Material transfer Application development Exclusivity partnership License partnership agreement partnership Orthopedics Cardiology Neurology Urology Vascular access Other 4 Average 5-7 years
Slide 5: Delivering market transitions and support across the value chain with BD
Delivering market transitions and support across the value chain with BD • Collaboration spanning entire value chain – from technology licensing to go-to-market strategies • Continue to support market penetration in India after launch of Bactiguard-coated Foley catheters earlier in 2025 • BD receive
Slide 6: Updated agreement with Zimmer Biomet to reflect current market activities
Updated agreement with Zimmer Biomet to reflect current market activities and strengthen collaboration • Updated agreement focused on ZNN Bactiguard coated trauma nail system ─ Non-exclusive rights, covering Europe, selected MEA markets and Japan ─ Remaining global rights to Bactiguard ─ Royalties o
Slide 7: Wound Management – continued strong double-digit growth across Hydrocyn
Wound Management – continued strong double-digit growth across Hydrocyn, off-set by drop in sutures • Strong double-digit growth from Hydrocyn aqua across product categories and onboarding of new distributors in Southeast Asia, the Middle East and Europe • Larger than expected drop in sutures in iso
Slide 8: While total revenue decreased, net sales was up 10% in Q4
While total revenue decreased, net sales was up 10% in Q4 and down 6% in FY net of negative currency effects Revenue development MSEK reported (incl. FX) Q4 (Oct-Dec) Full-year (Jan-Dec) -12.6% 261.9 20.2 228.8 16.0 0.9 12.9 Other revenues 60.9 62.7 BIP portfolio Wound Management portfolio -3.9% Tot
Slide 9: Total license revenue grew in Q4, while FY result is stable
Total license revenue grew in Q4, while FY result is stable and license partners grew 5% net of currency effects License revenue development MSEK reported (incl. FX) Q4 (Oct-Dec) Full-year (Jan-Dec) -7.5% 164.7 152.3 7.7 1.5 0.0 0.3 Application development partners Exclusivity partners License partn
Slide 10: Delivered OPEX savings of more than 25% in 2025
Delivered OPEX savings of more than 25% in 2025, while strengthening the organization Total operating costs (OPEX) development MSEK Q4 (Oct-Dec) Full-year (Jan-Dec) -26.0% 207.9 153.7 Personnel costs 111.5 Other external expenses 95.4 Other operating expenses -37.7% 54.4 33.8 87.6 30.0 51.6 21.7 24.
Slide 11: Strong finish to the year, more than doubling EBITDA
Strong finish to the year, more than doubling EBITDA at 44 MSEK for 2025 EBITDA development MSEK Q4 (Oct-Dec) Full-year (Jan-Dec) +25.7 43.8 +16.3 24.7 EBITDA 18.0 8.4 2024 2025 2024 2025 11 Source: Bactiguard Holding AB, Interim report Q3 2025, p. 14
Slide 12: Positive cash flow from operations in Q4 resulting in total cash position
Positive cash flow from operations of 12 MSEK in Q4 resulting in total cash position of 44 MSEK at end of 2025 Cash flow for the period and total cash development MSEK 11.7 -1.4 -3.7 0.3 44.3 37.4 Cash end Cash flow Cash flow Cash flow Exchange Cash end of Q3 2025 from operating from investing from
Slide 13: Continue to build on strategy towards 2030 targets
Continue to build on strategy towards 2030 targets Strategic focus Targets by year-end 2030 application areas License partnerships Advance current and develop new partnerships >10 in either exclusivity or license partnership R&D Medical Continue to invest in key >200 MSEK EBITDA knowledge areas Regu
Slide 14: Summarizing 2025 - a year of strategic execution resulting in a stronger foundation
Summarizing 2025 ˗ a year of stategic execution resulting in a stronger foundation Strengthened partnerships through enhanced ways of working and achieved milestones Good momentum in early discussions with potential license partners across strategic therapeutic areas Stable underlying revenue in lic
Slide 15: Questions & Answers
Questions & Answers Q4 and year-end 2025 Christine Lind Patrick Bach CEO CFO