Bactiguard Holding AB (publ) (BACTI_B) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you, Operator, and welcome to the presentation of Back to Guard's fourth quarter as well as the full year 2025. Our CFO, Patrick Buck, and I will go through the presentation together, and at the end, there will be time for your questions. Let's start with some high-level comments on the quarter and summarize 2025. Patrick will go into more details on the financials later in the presentation. we closed the year with a great Q4. Total revenues increased by more than 4% when excluding the negative effect of currency. Given our substantial US dollar exposure within the licensed business, the weaker dollar does continue to impact our revenues negatively. The main driver for both the fourth quarter and full year on revenues and EBITDA was the updated agreement with Zimmer Biomet in December. I will come back to how this new agreement reflects the solidified collaboration between Back2Guard and Zimmer Biomet a bit later. The strong finish resulted in stable license revenue for the full year, again, excluding the currency impact. We achieved this despite the fact that the 2024 comparison year included exclusivity revenues from the now terminated agreement. Total revenue decreased in 2025, but thanks to our new cost base and continued cost discipline, EBITDA continued to improve in the year. As we close out 2025, I would like to reflect on the strategic steps we have been taking throughout the year to advance our transition and shape the back to guard we are becoming. We are now a more focused and better aligned organization with our operations increasingly structured to support our new business model. That said, we do remain in the midst of our transformation and meaningful changes take time. Let's review our progress in line with our strategic pillars. To advance in l...