THIRD QUARTER 2025
Net sales amounted to SEK 326.6 million (304.0), an increase of SEK 22.7 million, or an increase of 7% (excluding foreign exchange effects an increase of 14%).
Net sales in the Pediatrics segment amounted to SEK 242.6 million (225.8), an increase of 7% (excluding foreign exchange effects an increase of 14%).
Net sales in the Adult Health segment amounted to SEK 81.6 million (76.6), an increase of 6% (excluding foreign exchange effects an increase of 13%).
Operating expenses amounted to SEK 156.5 million (180.9), a decrease of SEK 24.4 million (13%).
Operating expenses, excluding items affecting comparability, increased by 21% to SEK 156.5 million (128.9).
Operating profit increased by 108% to SEK 86.0 million (41.4), which corresponds to an operating margin of 26% (14%).
Adjusted operating profit decreased by 8% to SEK 86.0 million (93.4), which corresponds to an adjusted operating margin of 26% (31%).
Profit after tax amounted to SEK 65.9 million (36.6), an increase of 80%.
Earnings per share amounted to SEK 0.65 (0.36) before and after dilution.
Cash flow amounted to SEK 107.4 million (111.4).
Cash and cash equivalents amounted to SEK 728.1 million (1,114.6).
Key events in the third quarter of 2025
On July 16 BioGaia announced that it launched BioGaia New Sciences AB - dedicated to advancing microbiome research and innovation.
At an extraordinary general meeting on 22 August, it was resolved to elect Mauricio Graber as new chairman of the board.
On August 27 it was announced that Mauricio Graber, chairman of the board has entered into an agreement to purchase 735,754 class B shares from Anatom Holding, BioGaia's anchor shareholder.
On September 10 BioGaia announced that it establishes its own distribution in Germany and Austria.
On September 30 BioGaia announced that it launches Prodentis® Fresh Breath.
JANUARY - SEPTEMBER 2025
Net sales amounted to SEK 1,097.6 million (1,057.9), an increase of SEK 39.7 million, or an increase of 4% (excluding foreign exchange effects an increase of 8%).
Net sales in the Pediatrics segment amounted to SEK 822.6 million (822.9), a decrease of 0% (excluding foreign exchange effects an increase of 4%).
Net sales in the Adult Health segment amounted to SEK 265.9 million (229.6), an increase of 16% (excluding foreign exchange effects an increase of 20%).
Operating expenses amounted to SEK 513.3 million (452.2), an increase of SEK 61.1 million (14%).
Operating expenses, excluding items affecting comparability, increased by 29% to SEK 513.3 million (398.0).
Operating profit decreased by 9% to SEK 291.5 million (320.0), which corresponds to an operating margin of 27% (30%).
Adjusted operating profit decreased by 22% to SEK 291.5 million (374.2), which corresponds to an adjusted operating margin of 27% (35%).
Profit after tax amounted to SEK 234.0 million (269.5), a decrease of 13%.
Earnings per share amounted to SEK 2.31 (2.67) before and after dilution.
Cash flow amounted to SEK -483.1 million (-429.9).
Key events after the end of the third quarter of 2025
On October 16 BioGaia announced that the study on BioGaia's new patented strain L. reuteri BG-R46® has been published in Beneficial Microbes.
CEO'S COMMENT
As reported, the third quarter showed solid overall growth of 7% (14% excluding foreign exchange effects) and an adjusted operating margin of 26%, underpinned by continued double-digit sales growth in the US market.
We see strong growth following increased media investments in the US and our other prioritized direct markets, including Canada, UK and Australia, attracting new consumers and enhancing brand awareness.
The AMERICAS (+10%) and APAC (+17%) regions delivered double-digit growth, while sales in EMEA (-4%) declined for the quarter due to weak performance in Eastern Europe.
We showed continued strong growth in the adult segment with a sales increase of +6% (+13% excluding foreign exchange effects) and year-to-date +16% (+20% excluding foreign exchange effects) with particularly strong growth of our BioGaia Gastrus® product line. The pediatric segment also showed good growth of +7% (+14% excluding foreign exchange effects) with strong growth for BioGaia® Protectis® Drops in the Asia Pacific and Latin America regions.
Quarterly performance across our regions
In the AMERICAS, overall region sales increased by 10% with the US market achieving record breaking sales in the quarter. In the US market, we are pleased to report that BioGaia® Protectis® Drops 5 ml was launched in over 1,000 Walmart stores, the largest retail chain in the world. We successfully launched two new products with promising potential - BioGaia® Gastrus® PURE ACTION in capsules, a new format, on Amazon which was well received, and we launched the completely new product BioGaia® Prodentis® FRESH BREATH with a strong online campaign. Canada is also performing well with triple digit growth for BioGaia® Prodentis®. The BioGaia® Prodentis® line has been well received by consumers and dental professionals in both Canada and the US showing potential for continued significant growth.
Also, in the AMERICAS region our new digital campaign in partnership with our Brazilian distributor Aché, targeting mothers and healthcare professionals, has surpassed 10 million views effectively highlighting the benefits and scientific evidence for our BioGaia® Protectis® Drops.
APAC sales increased by 17%. In our direct market, Australia, our expanding distribution and marketing activities are yielding rapidly increasing market shares. In Japan, our business development strategy is progressing well with online sales growing in both the DTC and Amazon channels. Our partnership with Alfresa, Japan's largest pharmaceutical wholesaler is fully established for the pediatric channel, as well as the announcement of a collaboration with the Japan Midwives Association.
EMEA sales declined 4% for the quarter due to weak sales in Eastern Europe. In our direct market France, we achieved record net sales driven by pharmacies and expanded distribution. In the important market of Turkey, we are pleased to have signed a long-term distribution agreement with Abbott, a longstanding BioGaia partner in the Middle East, Latin America and other markets. With Abbott's local expertise and distribution network, we will be able to drive a strong position in the market. Finally, we are pleased to announce two additional direct markets Germany and Austria that until now have been lagging markets for BioGaia.
New product rollout
In the quarter, we launched an important new product. As mentioned, we launched BioGaia® Prodentis® FRESH BREATH, our newest probiotic lozenge designed to promote both instant and long-lasting fresh breath while supporting healthy gums and teeth. Unlike conventional products like mouthwash that may disrupt the natural balance of the mouth, BioGaia® Prodentis® FRESH BREATH works with the oral microbiome to tackle bad breath at its source, complementing daily brushing and flossing. The product was launched in the US and will continue to be rolled out across other markets. With this innovation, we will expand our specialized oral care portfolio and continue to bring products that combine rigorous scientific research with real benefits for everyday life.
Demand for our new product in capsules, BioGaia® Gastrus® PURE ACTION, is high and is being rolled out to new markets. It is already available in the US, Australia, Finland, Poland, Sweden and Hungary. This FODMAP-friendly probiotic supports individuals with sensitive stomachs and participants who used the product demonstrated significant reduction in IBS symptoms.
New patented strain
The scientific rationale and identification of our new patented strain, L. reuteri BG-R46®, which will be featured in an upcoming next generation baby drops product, has been published in the prestigious journal, Beneficial Microbes. This new, evolved strain shows increased bile tolerance and potentiated adenosine production. Bile is one of the major stressors of the gastrointestinal tract and increased tolerance implies increased bacteria survival. Additionally, adenosine is a potent signaling molecule involved in combatting inflammation among many other processes. In the publication, genomic, phenotypic and human safety were assessed and L. reuteri BG-R46® was found to be a safe, well-characterized strain.
Continuing our journey
As previously announced, during the quarter, an extraordinary general meeting elected a new Chairman. With great respect and gratitude, we acknowledge that Peter Rothschild, our co-founder, longstanding CEO and then Chairman, is stepping down. This marks a new chapter in BioGaia's history as we welcome Mauricio Graber as our new Chairman. Mauricio brings extensive experience as a CEO in the food ingredients sector, as well as leadership roles within the nutrition and health industries. He has previously served as President and CEO of Chr. Hansen A/S (today Novonesis), a large global bioscience company. His broad expertise and proven leadership will be invaluable to BioGaia as we continue to grow and innovate.
As we enter this new chapter and celebrate BioGaia's 35th anniversary, I am confident that the company is well-positioned to continue its journey of innovation, scientific advancement, and strong international growth.
I look forward to the opportunities ahead and to driving BioGaia's mission forward.
Theresa Agnew
President and CEO, BioGaia
October 22, 2025
You find the complete report with tables in the attached PDF or on https://www.biogaiagroup.com/investors/reports-and-presentations/financial-reports
Teleconference:
Investors, analysts, and the media are invited to take part in a teleconference on the interim management statement to be held today, October 22, 2025, at 09:30 a.m. CEST with CEO Theresa Agnew and CFO Alexander Kotsinas. More information about the teleconference is available here: https://financialhearings.com/event/51894
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Contacts:
Alexander Kotsinas, CFO
Email: alexander.kotsinas@biogaia.com
Phone: +46 735 00 11 11
Mikaela Idermark Stern, Corporate Communications
Email: mikaela.idermark.stern@biogaia.com
Phone: +46 730 95 61 50
About BioGaia
BioGaia is a Swedish probiotic company that has been at the forefront of microbiome research for more than 35 years. BioGaia develops, manufactures, markets, and sells probiotic products focused on gut health, immune health, and oral health. The products are sold through local distribution partners or via own distribution in over 100 markets. The class B share of the Parent Company BioGaia AB is quoted on the Mid Cap segment of Nasdaq Stockholm. biogaiagroup.com
This disclosure contains information that BioGaia is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person set out above, at 08:00 a.m. CEST on October 22, 2025.