Summary of the period 1 April to 30 June 2025
- Net turnover TSEK 217,146 (54,691)
- Cash flow from operating activities TSEK 67,125 (9,886)
- Result after financial items TSEK 144,971 (18,029)
- Result after tax TSEK 111,957 (13,224)
- Earnings per share TSEK 3.75 (0.49)
The entire quarterly report is available at: https://intellego-technologies.com/sv/rapporter/
A Message from the CEO
We continue the year with record revenue and profit - and we are not slowing down
Intellego saw significant growth in Q2 with increases in revenue, profit and also improvement in cash conversion.
This is a testament to the innovative products that Intellego provides to the market and our close collaborations
with our customers e.g. Henkel and Likang. It also shows that Intellego's work with shortening payment times
is starting to have results, which we expect to continue to improve during the year. In addition, we do see that
our sales continue to accelerate in all business areas which is driven by our improving sales work, Intellego
becoming a more recognized brand and new regulations (for example in the US where the FDA is now starting
to regulate UV disinfection devices). Another factor is an increasing price point where we charge higher prices
in new application areas compared to, e.g., disinfection. Due to our increasing growth, Intellego hereby raises
its 2025 financial goals to over 700 million (265) SEK in revenue and over 400 million (102) SEK in EBIT. If
the company achieves these numbers, it will mean an increase in revenue of approximately 164% and 292%
increase in EBIT on a yearly basis.
During Q2 the company continued its focus on cash generation, which contributed to a cash balance of around
100 million SEK at the end of the quarter. At the same time, we continue to invest in future growth. An example is
market investments which Intellego does with its partners and, during Q2, approximately 10 MSEK was invested
in these collaborations, from the company's operating cashflow. The basic reason for these investments is that
the company sees that these investments can significantly alter the financial curve of the group resulting in
financial results greatly exceeding previously communicated goals. The results from these investments will be
seen on both a short term and long term basis, based on the order inflow that the group sees.
The increased cash generation will mainly be used for the group's continued expansion and to pay down debt.
General market update:
During Q2 we have seen that regulations and industry standards for UV disinfection have started to spread
across the world. This began in China and now the FDA is getting involved over in the US and Canada has
started to implement regulations. This is a welcome development and something we believe couldn't come soon
enough.
In Intellego we have always wondered about UV disinfection being used with almost no way of assuring UV
exposure levels in each disinfection run. We found it odd that in a similar, adjacent area such as sterilization,
regulatory standards mandated validation in the shape of color indicators for each sterilization process and we
assumed the reason for the different treatments was simply the emerging nature of UVC disinfection, which only
stepped onto the main stage during COVID. The rise of the regulatory drive to require and enforce validation in
healthcare settings is both important for end users of these facilities, important for the industry and significant
to our company. We think this drive is just beginning.
In the UV curing industry there are no regulations which require quality control, but curing is a well-developed
production method which is being conducted globally 24 hours a day, 7 days a week. Having a reliable UV curing
production line is key to avoiding product recalls which for example can be seen in medical device production.
There, you use UV curing as a production step in order to cure adhesives. If these adhesives are not UV cured
sufficiently there is a risk that these medical devices will have to be recalled which will cause significant direct
costs and most likely legal liability for the producer/brand. Intellego indicators can be an effective way to quality
assure that the UV curing process is being done correctly on a consistent basis. Medical devices are only one
example and UV curing has been used in production of many of the day to day products we have around us such
as the electronics we use (cell phones, computers, etc), which gives an indication of the market size.
The curing market is global and its much larger than on the PSA side. It is a market where we have seen especially strong progress in Q2 and this is expected to continue. We have several ongoing partnerships in the UV curing space and one indication for the future is the message we received from one of the world largest curing companies recently saying:
"Dear Claes & Team,
With great appreciation, we celebrate a milestone that reflects the strength of our collaboration at our new and & innovative product, born from years of co-development and shared ambition beyond our core competencies.
The first batch production marks not only a commercial step forward, but also a testament to the agility, openness and mutual trust that define our partnership.
I appreciated what we have built together and even more excited about what lies ahead - new ideas, new opportunities and continued momentum."
Tariffs:
In the last year we have seen that new tariffs have come into place but Intellego does not currently foresee that these tariffs will have a significant effect on its business.
Collaborations:
Two of our major collaborations, with Henkel and Likang, are developing better than expected. Both projects generate revenue on a reoccurring basis and volumes are increasing. At the time of this report, Likang and its group are continuing their expansion outside of China into the rest of the Asia region. With Henkel, we are still discussing a global distribution agreement, but that is secondary to our mutual focus on selling the products in the market and the global launch, which is the most important thing.
In addition to existing sales, Intellego is also involved in several development projects which we will inform about as soon as there is concrete and relevant information to share. One of these projects is the collaboration we have with HAI Solutions which is making good progress. HAI Solutions' product has been registered and launched in New Zealand and we are approaching a market approval in the US, which is expected to come from the FDA by the end of this year.
In addition, we are working on several new projects with a total of 12 new products under development and where we have a paying customer which has pre-ordered the product.
Closing remarks:
Intellego's improving results come from our continuous work to improve every aspect of our business. Furthermore, the disinfection business in particular is expected to benefit from new market standards and new regulations where UV disinfection devices are facing more stringent demands for quality control. Based on this and the progress the company has made over past months, the management and board are now in the process of reviewing our 3-5 year goals, which will be revised later this year.
Claes Lindahl
CEO of Intellego Technologies
Contacts
For further information, please contact:
Claes Lindahl, CEO Intellego Technologies AB
E-mail: claes.lindahl@intellego-technologies.com
Phone: +46 735 344 634
About Us
Intellego Technologies develops and manufactures color indicators that show the effect of irradiation with, among other things, invisible ultraviolet light, UV light. Color indicators are used globally in, for example, the disinfection industry, the sunscreen industry, and the manufacturing industry. Intellego's indicators have been developed from the company's patented photochromic ink, which can be adapted to different wavelengths of light and various application areas across a range of different industries. Intellego Technologies was founded in 2011, is headquartered in Stockholm, and is listed on the Nasdaq First North Growth Market.
The company's Certified Adviser on the Nasdaq First North Growth Market Stockholm is Mangold Fondkommission AB.
Intellego's website: https://intellego-technologies.com/en/
Subscribe to Intellego's press releases: https://intellego-technologies.com/sv/pressmeddelanden/
Contact the communications team: communications@intellego-technologies.com
This information is information that Intellego Technologies 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 2025-08-27 18:00 CEST.
