Hofseth Biocare ASA: SECOND QUARTER 2025 FINANCIAL REPORT
HBC recorded total operating revenues of NOK 68.4 million in the second quarter of 2025, compared to NOK 80.4 million in the same period last year. Net operating revenues were NOK 67.8 million, compared to NOK 72.2 million in the same quarter last year. Total operating revenue for the first six months of 2025 was NOK 129.3 million (NOK 132.8 million).
EBITDA for the quarter was negative NOK 5.4 million, compared to NOK -2.0 million in Q2 2024. The first six months was negative NOK 25.3 million (NOK-18.2 million) The Operational EBITDA* amounted to positive NOK 1.3 million, compared to negative NOK 2.5 million same quarter last year, reflecting the exclusion of non-recurring items such as restructuring costs (NOK 0.0 million), clinical trial and R&D investments (NOK 4.9 million), and Berkåk project costs (NOK 2.4 million). For the first six months the Operational EBITDA* amounted to NOK -7.0 million (NOK-10.3 million).
Cash and cash equivalents decreased by NOK 3.9 million during the quarter, reaching NOK 68.0 million at the end of Q2 2025, up from NOK 25.3 million a year earlier. Including available credit lines, total liquidity ended at NOK 76.5 million as of 30 June, 2025.
Highlights in the second quarter:
- Human Nutrition B2B Sales increased 180% YoY to NOK 9.3m, driven by strong demand in Europe, China, and Southeast Asia. OmeGo® and ProGo® continued to lead product launches, supported by scientific validation.
- NYO3® International AS launched OmeGo® Full Spectrum Omegas in softgel format at Vitafoods Europe, marking a major global milestone for HBC’s human nutrition franchise.
- ProGo® won the “Panpan Cup” Food Maker Award in China and was a finalist in the NutraIngredients-USA Awards in the “healthy aging” category, underscoring its strong market positioning in longevity and metabolic health.
- Brilliant Salmon Oil now present in over 25 countries, with new listings in Italy, Ireland, Taiwan, UAE, and Ecuador. Further distribution agreements in Japan, Czech Republic, and Ukraine are progressing.
- Completion of CalGo® bone health study showing prevention of bone loss and trend toward increased bone mass. NT-II™ preclinical analyses accepted for peer-reviewed publication. Planning initiated for a ProGo® cognitive health study in Alzheimer’s.
Please find the HBC Q2 2025 Financial report attached.
For further information, please contact:
Jon Olav Ødegård, CEO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no
About Hofseth BioCare ASA:
HBC is a Norwegian consumer and pet health company founded on the core values of sustainability, optimal utilization of natural resources and full traceability. It upcycles the side streams of the salmon industry by taking fresh filleted salmon and converting it from a waste product into ingredients to improve human and pet health.
These ingredients are ProGo®, a mix of bioactive peptides and collagen, OmeGo®, a whole salmon oil, with all the fatty acid fractions contained in fish, and CalGo® / NT-II® salmon bone powder containing calcium hydroxyapatite and undenatured collagen for bone and joint health.
HBC places scientific evidence at the forefront which has led to important academic partnerships and the identification of unique health benefits. This includes the demonstration of improved iron metabolism by boosting the body’s ability to take up and use iron resulting in increased energy and vitality with ProGo® as well as the activation of the GLP-1 receptor with fat reduction in overweight adults. OmeGo® has shown important immune health benefits including recovery from viral infection and improved respiratory health and sleep in adults troubled by particulate matter pollution. Finally, CalGo® has shown both bone and joint health benefits to support healthy ageing and active lifestyles. This work has also resulted in the granting of a number of patents protecting these discoveries. It has also led to the discovery of potential therapeutics and HBC has spun out a biotech-focused company, HBC Immunology (HBCI) has raised external finance, and the lead program is in prostate cancer followed by ovarian cancer. A separate molecule is targeted as an oral, steroid-sparing therapy for asthma. HBC’s headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, New Jersey and Palo Alto.
HBC is listed on Oslo Stock Exchange with ticker “HBC”.
*) Alternative Performance Measures are further described on p. 13 in the financial report.
This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act
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