Vaxxa AB Reports Modest EBITDA Gain and Anticipates Positive Cash Flow in Q4

The Swedish biotechnology company Vaxxa AB, listed on the Frankfurt Stock Exchange, has released its financial results for the third quarter of 2025. The company’s performance, while modest, signals a potential shift toward operational stability and a more favourable cash‑flow outlook for the forthcoming quarter.

Third‑Quarter Results

  • Revenue: The company recorded a revenue of SEK 21.1 million, reflecting a slight decline of 0.9 % relative to the same period in the previous year (SEK 21.3 million).
  • EBITDA: Vaxxa posted an EBITDA of SEK 0.0 million, which aligns with the company’s internal guidance. The figure is a marginal increase from the forecasted SEK 0.6 million, indicating that earnings before interest, tax, depreciation, and amortisation remained essentially flat.
  • Net Income: After tax, the company reported a loss of SEK −0.5 million versus the expected SEK 0.0 million, underscoring the continued pressure on profitability.
  • Earnings per Share: The earnings per share stood at −SEK 0.011, in contrast to the forecast of +SEK 0.0002.

These metrics illustrate that while Vaxxa’s revenue base remained largely unchanged, its cost structure has not yet been fully optimised to translate sales into a significant positive operating profit.

Digital Platform Milestone

A notable development highlighted in the earnings release is the completion and full operation of the company’s digital platform and mobile application. This platform, designed to streamline the auction process for medical equipment and related services, represents a strategic pivot toward technology‑enabled solutions. The company’s statement suggests that the platform is now fully functional, which may reduce operational costs and improve customer engagement over the long term.

Outlook for Q4

In its guidance, Vaxxa forecasts positive cash flow for the fourth quarter. This projection is based on the expected ramp‑up of the digital platform’s usage, which should reduce transaction costs and increase transaction volumes. A positive cash flow would allow the company to invest further in platform enhancements and potentially reduce reliance on external financing.

Market Reaction

At the close of trading on 21 October 2025, Vaxxa’s share price stood at EUR 0.0456. The company’s market capitalisation was reported as EUR 1.98 million. The share price sits near the 52‑week low of EUR 0.0378, yet remains well below the 52‑week high of EUR 0.137. The modest valuation reflects the market’s caution given the company’s recent loss and limited revenue growth.

Strategic Context

Vaxxa’s focus on a digital auction platform aligns with broader industry trends toward digital transformation in healthcare logistics and supply chain management. By providing a more efficient marketplace for medical devices and equipment, the company aims to capture a niche segment that traditionally has been dominated by manual processes. Success in this area could potentially unlock new revenue streams and enhance the company’s competitive position.

This article synthesises information from recent earnings releases and market data as of 23 October 2025, focusing on Vaxxa AB’s financial performance, strategic initiatives, and market implications.