Nanoform returned to growth in the third quarter

A health technology company Nanoformin turnover increased to 0.8 million euros in the third quarter. At the same time a year earlier, the turnover was 0.6 million euros.

The company’s EBITDA remained at the previous year’s level and was at a loss of EUR 4.4 million.

The operating result weakened to a loss of EUR 5.2 million during July–September. At the same time last year, the loss was 5.1 million euros.

Loss per share decreased to a loss of EUR 0.6 per share. In the comparison period, the loss per share was 0.5 euros per share.

Operating free cash flow was a loss of EUR 5.0 million in the third quarter. At the same time last year, cash flow was at a loss of EUR 4.9 million.

“After six quarters of negative revenue growth – mainly due to macro-related issues, such as the rapidly rising interest rates of central banks and therefore a significant decrease in spending, especially on the early stage projects of biotech companies, but also of large pharmaceutical companies – we have returned to growth mode and we expect it to accelerate in the coming quarters and years”. CEO of Nanoform Edward Häggström comment in the review.

12 new contracts were signed in the third quarter.

During 2024, the company aims to increase the number of signed contracts compared to 2023, improve cash flow compared to the previous year, and sign at least one license or commercial contract.