Nosa Plugs AB Year End Report 2025
13 februari, 07:30
CEO statement
We conclude 2025 with solid sales growth, both organically and in the acquired business. Revenue for the quarter amounts to approximately 11.2 MSEK and we also reach our strategically important goal of becoming EBITDA positive.
Nozoil gains momentum
It has been an eventful quarter, where the integration of Pharmacure and the realization of acquisition synergies have been the highest priority. We have only just begun, but we are pleased and proud to already have launched Nozoil in more than 700 physical pharmacies, primarily in Germany and Switzerland, while also successfully launching the product in Iceland and Norway. The strong growth of Nozoil in Germany is to a large extent attributable to the sales and marketing work performed by our own sales force on site.
Our long-term goal is to launch Nozoil in all markets where we already have sales of our other product range. This means that we still have around ten markets left to roll out the product in. In parallel, we will also continue to launch the product with distributors in markets that are not “focus markets”. An example is the MENA region, which has great potential, but where we do not intend to have our own sales force.
We see a slightly lower gross margin on the Nozoil sales that we have generated organically until we have sold out the inventory that was built up before the acquisition of Pharmacure. During 2026, the margin will gradually strengthen, while we also take measures to further reduce supplier costs.
Odor control
During Q3 we saw a weakening in the growth rate of Odor control in Sweden. Encouragingly, growth has picked up again during Q4 and is now in line with growth in previous years.
During the quarter we have also reached important successes in procurement work. Norwegian healthcare has procured Odor control from March 2026, and Provence, one of France’s largest regions, has also procured the product.
Both procurements are the result of long-term and purposeful work. Together they contribute to an increase in addressable procurement volume which, at full penetration, is estimated to be close to 40%.
Smell training
The long-term study regarding quality of life linked to loss of smell, carried out by Karolinska Institutet and Lund University, has now been completed. The study shows that patients who performed smell training with Smell training experienced an improved sense of smell compared with the control group, as well as a significant improved quality of life in the form of better mental and physical health.
The positive study result now provides a basis for continued engagement with healthcare, but also opens the possibility of obtaining reimbursement by states or insurance companies.
Drug delivery
During the year we reached all of our strategic and financial milestones – with the exception of one. We have not yet signed an agreement with a pharmaceutical partner regarding Drug delivery. One partial explanation is that the publication of the second in vivo study “the organ data” has been significantly delayed. This is an important datapoint for pharmaceutical companies, which caused the process to pause for a period. With this data now in place, we hope to accelerate the process again and begin testing specific patented molecules.
Going forward
Today we are a substantially larger company than we were only one year ago. The objective for 2026 is to reach revenue of 50 MSEK, while continuing on the chosen path as a profitable company. We now stand on our own feet and can fully chart the direction for the company ourselves.
We can also already conclude that the Nozoil acquisition has so far been a success. Sales are above expectations and we have only just begun. This gives us good conditions for 2026.
Financial development
- 1 October - 31 December 2025
- Net sales 11,150 TSEK (4,776)
- Sales growth 133%
- Operating profit -956 TSEK (-2,338)
- Operating profit before depreciation (EBITDA) 748 TSEK (-1,850)
- Earnings per share 0.00 SEK (-0.01)
- Cash flow from operating activities -1,778 TSEK (-3,424)
- Cash and cash equivalents 17,298 TSEK (4,314)
1 January- 31 December 2025
- Net sales 23,907 TSEK (16,097)
- Sales growth 49%
- Operating profit -8,309 TSEK (-10,320)
- Operating profit before depreciation (EBITDA) -4,395 TSEK (-8,440)
- Earnings per share -0.03 SEK (-0.05)
- Cash flow from operating activities -6,395 TSEK (-10,075)
- Cash and cash equivalents 17,298 TSEK (4,314). During the second quarter, the company raised approximately 32.4 MSEK net through a rights issue after issue costs. During the third quarter, payment for the acquisition of a subsidiary of approximately 11.4 MSEK was made.
Significant events during the period
- NOSA signs an agreement with Apotera AS, one of Norway’s largest online pharmacies, thereby entering the Norwegian pharmacy market. The launch includes the products Nozoil, Odor control, Microbial control and Smell training.
- The company held an Extraordinary General Meeting and resolved to introduce an option program.
- NOSA’s product Odor control is procured in the French healthcare region APHM, which covers Provence in France.
- NOSA Smell training shows a long-term improvement in patients’ quality of life in a clinical study conducted by Karolinska Institutet and Lund University.
- Through the subsidiary NoseOption AB, NOSA has initiated collaboration with the healthcare distributor Canada Medical Ltd regarding the product Odor control. The launch with Canada Medical is an important part of a larger initiative in Canada.
Significant events after the end of the period
- NOSA initiates collaboration with Abena regarding Odor control.
- NOSA receives positive organ data regarding Drug delivery.
Financial calendar
- Annual report – published 17 April 2026
- Quarterly report Q1 – published 15 May 2026
- Quarterly report Q2 – published 21 August 2026
- Quarterly report Q3 – published 6 November 2026
For further information:
Adrian Liljefors, CEO Nosa Plugs AB (publ)
E-mail: ir@nosaplugs.com
About NOSA:
NOSA Plugs AB (publ) is a Swedish medical technology company that has been listed on Nasdaq First North Growth Market since 16 March 2023, under the ticker “NOSA”. FNCA Sweden AB acts as the company’s Certified Adviser.
The publication is a translation of the original Swedish text. In the event of inconsistency or discrepancy between the Swedish version and this publication, the Swedish language version shall prevail.
NOSA’s press releases are available at:
https://nosaplugs.com/sv/investerare/
This information is information that Nosa Plugs AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-02-13 07:30 CET.
Attachments
Ämnen i artikeln
Nosa Plugs AB Year End Report 2025
13 februari, 07:30
CEO statement
We conclude 2025 with solid sales growth, both organically and in the acquired business. Revenue for the quarter amounts to approximately 11.2 MSEK and we also reach our strategically important goal of becoming EBITDA positive.
Nozoil gains momentum
It has been an eventful quarter, where the integration of Pharmacure and the realization of acquisition synergies have been the highest priority. We have only just begun, but we are pleased and proud to already have launched Nozoil in more than 700 physical pharmacies, primarily in Germany and Switzerland, while also successfully launching the product in Iceland and Norway. The strong growth of Nozoil in Germany is to a large extent attributable to the sales and marketing work performed by our own sales force on site.
Our long-term goal is to launch Nozoil in all markets where we already have sales of our other product range. This means that we still have around ten markets left to roll out the product in. In parallel, we will also continue to launch the product with distributors in markets that are not “focus markets”. An example is the MENA region, which has great potential, but where we do not intend to have our own sales force.
We see a slightly lower gross margin on the Nozoil sales that we have generated organically until we have sold out the inventory that was built up before the acquisition of Pharmacure. During 2026, the margin will gradually strengthen, while we also take measures to further reduce supplier costs.
Odor control
During Q3 we saw a weakening in the growth rate of Odor control in Sweden. Encouragingly, growth has picked up again during Q4 and is now in line with growth in previous years.
During the quarter we have also reached important successes in procurement work. Norwegian healthcare has procured Odor control from March 2026, and Provence, one of France’s largest regions, has also procured the product.
Both procurements are the result of long-term and purposeful work. Together they contribute to an increase in addressable procurement volume which, at full penetration, is estimated to be close to 40%.
Smell training
The long-term study regarding quality of life linked to loss of smell, carried out by Karolinska Institutet and Lund University, has now been completed. The study shows that patients who performed smell training with Smell training experienced an improved sense of smell compared with the control group, as well as a significant improved quality of life in the form of better mental and physical health.
The positive study result now provides a basis for continued engagement with healthcare, but also opens the possibility of obtaining reimbursement by states or insurance companies.
Drug delivery
During the year we reached all of our strategic and financial milestones – with the exception of one. We have not yet signed an agreement with a pharmaceutical partner regarding Drug delivery. One partial explanation is that the publication of the second in vivo study “the organ data” has been significantly delayed. This is an important datapoint for pharmaceutical companies, which caused the process to pause for a period. With this data now in place, we hope to accelerate the process again and begin testing specific patented molecules.
Going forward
Today we are a substantially larger company than we were only one year ago. The objective for 2026 is to reach revenue of 50 MSEK, while continuing on the chosen path as a profitable company. We now stand on our own feet and can fully chart the direction for the company ourselves.
We can also already conclude that the Nozoil acquisition has so far been a success. Sales are above expectations and we have only just begun. This gives us good conditions for 2026.
Financial development
- 1 October - 31 December 2025
- Net sales 11,150 TSEK (4,776)
- Sales growth 133%
- Operating profit -956 TSEK (-2,338)
- Operating profit before depreciation (EBITDA) 748 TSEK (-1,850)
- Earnings per share 0.00 SEK (-0.01)
- Cash flow from operating activities -1,778 TSEK (-3,424)
- Cash and cash equivalents 17,298 TSEK (4,314)
1 January- 31 December 2025
- Net sales 23,907 TSEK (16,097)
- Sales growth 49%
- Operating profit -8,309 TSEK (-10,320)
- Operating profit before depreciation (EBITDA) -4,395 TSEK (-8,440)
- Earnings per share -0.03 SEK (-0.05)
- Cash flow from operating activities -6,395 TSEK (-10,075)
- Cash and cash equivalents 17,298 TSEK (4,314). During the second quarter, the company raised approximately 32.4 MSEK net through a rights issue after issue costs. During the third quarter, payment for the acquisition of a subsidiary of approximately 11.4 MSEK was made.
Significant events during the period
- NOSA signs an agreement with Apotera AS, one of Norway’s largest online pharmacies, thereby entering the Norwegian pharmacy market. The launch includes the products Nozoil, Odor control, Microbial control and Smell training.
- The company held an Extraordinary General Meeting and resolved to introduce an option program.
- NOSA’s product Odor control is procured in the French healthcare region APHM, which covers Provence in France.
- NOSA Smell training shows a long-term improvement in patients’ quality of life in a clinical study conducted by Karolinska Institutet and Lund University.
- Through the subsidiary NoseOption AB, NOSA has initiated collaboration with the healthcare distributor Canada Medical Ltd regarding the product Odor control. The launch with Canada Medical is an important part of a larger initiative in Canada.
Significant events after the end of the period
- NOSA initiates collaboration with Abena regarding Odor control.
- NOSA receives positive organ data regarding Drug delivery.
Financial calendar
- Annual report – published 17 April 2026
- Quarterly report Q1 – published 15 May 2026
- Quarterly report Q2 – published 21 August 2026
- Quarterly report Q3 – published 6 November 2026
For further information:
Adrian Liljefors, CEO Nosa Plugs AB (publ)
E-mail: ir@nosaplugs.com
About NOSA:
NOSA Plugs AB (publ) is a Swedish medical technology company that has been listed on Nasdaq First North Growth Market since 16 March 2023, under the ticker “NOSA”. FNCA Sweden AB acts as the company’s Certified Adviser.
The publication is a translation of the original Swedish text. In the event of inconsistency or discrepancy between the Swedish version and this publication, the Swedish language version shall prevail.
NOSA’s press releases are available at:
https://nosaplugs.com/sv/investerare/
This information is information that Nosa Plugs AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-02-13 07:30 CET.
Attachments
Ämnen i artikeln
Analys
Nya fondtorget
Analys
Nya fondtorget
Marknadsöversikt
1 DAG %
Senast
1 mån
