Improved Cash Position and Successful Capital Raise
Cash reserves at year-end of SEK 1.282 billion; issued senior secured bonds on Jan 28, 2026 with nominal value EUR 40 million (4-year tenure, 3M Euribor + 5.9%, issued at 96.81%). After settling outstanding convertible debt (~SEK 1.008 billion), pro forma cash position is estimated at ~SEK 670 million to support growth, R&D and bolt-on acquisitions.
Quarter 4 Profitability Recovery
Group Q4 adjusted EBITDA of SEK 56 million representing a 13% adjusted EBITDA margin and operating cash flow of SEK 52 million, demonstrating a stronger quarter and improved profitability versus the full-year run rate.
Life Science Solutions Solid Performance
Full-year sales SEK 1.108 billion with organic sales growth of +1% and adjusted EBITDA SEK 83 million (8% margin). Q4 for the business area delivered SEK 326 million in sales and a robust 15% adjusted EBITDA margin (SEK 49 million).
Lab Automation Turnaround in Q4 and Biosero Momentum
Lab Automation closed the year strongly with Q4 sales SEK 125 million and organic sales growth +15%; Q4 adjusted EBITDA SEK 18 million (15% margin). Biosero finished the year with double-digit growth in Q4 after operational improvements and new leadership, indicating a successful turnaround trajectory.
Strategic Portfolio Focus and Cost Discipline
Management reports execution of BICO 2.0: a focused portfolio on lab automation, structural cost reductions and tighter R&D governance (gate-stage model). Net working capital at 13% of L12M sales (targeting ~20% long-term) and continued emphasis on expense management.
Product and Commercial Momentum (AI & Partnerships)
Multiple product launches at SLAS including Biosero's GoSimple (partnerships with Sartorius and Becton Dickinson) and an early-access assistive AI toolset in Green Button Go (natural language workflow creation). Several collaboration leads from SLAS and emphasis on software/AI-heavy R&D pipeline.
Customer Proof Points for Productivity Gains
Customer example (Top-20 pharma): downstream process and assay development time reduced 75%, equipment capacity increased 400%, and scientist productivity reported at 200% using BICO lab automation and Green Button Go, demonstrating high value proposition to pharma customers.