Orexo AB (publ) (STO: ORX) Q2 2025 Earnings | 07/16/2025

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Orexo AB (publ) (STO: ORX) reported its Q2 2025 results on July 16, 2025, navigating significant headwinds to reaffirm its full-year outlook. Total net revenues for the quarter were SEK 118.2 million, down from SEK 154.0 million in Q2 2024, reflecting lower sales in key segments and a negative impact from a non-recurring rebate payment of SEK 8.9 million. The company also faced pronounced currency headwinds, with a weaker US dollar impacting topline results. Excluding the non-recurring rebate and currency effects, adjusted net revenues would have been SEK 136 million. EBITDA declined to SEK -10.1 million, compared to SEK 5.0 million a year ago. Net earnings came in at SEK -39.8 million, versus SEK -35.9 million in Q2 2024. US commercial segment net revenues were SEK 113.5 million (down from SEK 147.9 million). On a local currency basis, the US business remained operationally stable, and CEO Nikolaj Sørensen emphasized that underlying cost discipline resulted in a steady EBIT contribution margin. Cash and cash equivalents were SEK 121.3 million at period-end, essentially unchanged from the start of the quarter. Operational & Strategic Highlights: US business: Zubsolv® continues to deliver a vital profit contribution. When excluding currency and rebate impacts, underlying sales growth and cost optimization were notable, sustaining margin strength. Pipeline execution: OX124 (Izipry™), a high-dose rescue medication for opioid overdose, is now ready to commence commercial manufacturing and additional FDA-mandated testing. OX640, Orexo’s intranasal epinephrine treatment for anaphylaxis, generated considerable partnership interest; new clinical data were presented at a leading allergy congress. The AmorphOX® next-generation drug delivery platform advanced, with positive in-vivo data highlighted in collaboration with Abera Bioscience and a strategic shift to focus on larger molecule applications. Cost and Capital: Operating expenses fell to SEK 131.4 million from SEK 153.5 million in Q2 2024, reflecting continued operational discipline in a challenging market environment. Cash flow from operations was a modest outflow of SEK -0.7 million, with the company maintaining a strong liquidity position after a SEK 10 million bond sale to offset rebate-related outflows. Outlook: Orexo reaffirmed its guidance for a full-year positive EBITDA, expecting growth drivers from both its US commercial business and expanding pipeline. Management cited progress on regulatory, clinical, and partnership fronts as validation of the company’s long-term value-creation strategy, especially through the AmorphOX® platform. The commercial strategy will prioritize expense efficiency and selective investment in pipeline advancements. About Inside Ticker: For more expert analysis and real-time updates on Orexo AB (publ) (STO: ORX) and other market movers, follow Inside Ticker and visit InsideTicker.com for in-depth reports, financial insights, and the latest news on leading companies. #Orexo #ORX #Q22025 #Earnings #FinancialResults #Pharmaceuticals #Pipeline #AmorphOX #Zubsolv #Opioids #DrugDelivery #ClinicalData #OperationalEfficiency #CashFlow #StockMarket #Investing #InsideTicker #Guidance #Innovation #USMarket #NetRevenue #CostControl #R&D #Healthcare #2025Outlook