CS MEDICA A/S (“CS MEDICA”) reports its Q1 results for October–December 2025, showing strong revenue growth, significantly reduced losses, and positive total cash flow, reflecting the successful execution following the Company’s comprehensive consolidation across operations, supply chain, and commercial platform.

Financial Performance (Q1 2025/2026)

• Revenue: DKK 3.8 million (Q1 2024/2025: DKK 0.3 million), driven by deliveries to existing EU partners and the execution of orders built up during Q4. Revenue exceeded the internal target of DKK 3.4 million and was 12.2% above budget.
• Gross profit: DKK 1.3 million (Q1 2024/2025: DKK 0.1 million). Gross margin was 35%, temporarily impacted by product mix, ramp-up effects, and delivery timing, while gross profit in absolute terms developed ahead of plan.
• Operating result (EBIT): DKK –1.3 million, an improvement from –3.0 million in the prior year, reflecting completed cost consolidation, disciplined execution, and lower overhead levels.
• Net result: DKK –1.1 million (Q1 2024/2025: –2.9 million), confirming a structural improvement in the underlying financial performance.
• Order intake: DKK 5.6 million, with demand across EU, MENA and Mexico.
• Commercial pipeline: DKK 23.8 million, of which approximately DKK 6.0 million is currently in translation, artwork, production, release or MDR transition.

Cash Flow and Liquidity
Total cash flow for the quarter amounted to DKK +2.4 million, resulting in cash and cash equivalents of DKK 2.3 million at quarter end. Operating cash flow was DKK –4.6 million, primarily reflecting a temporary increase in working capital related to higher activity levels. Liquidity during the quarter was supported by DKK 7.1 million in financing activities, mainly short-term funding used to bridge timing between production, delivery and customer payments during the scaling phase.

Operational and Commercial Highlights
Production timelines were largely realigned during Q1, with only limited production remaining behind schedule. Several partners placed their first repeat orders during the quarter, confirming successful market launches and the establishment of recurring sales patterns. Repeat orders represented 37% of revenue, while new customers during the quarter included partners in the Czech Republic, Italy and Cyprus.

Outlook
With strong Q1 revenue performance, improved cost discipline, and a solid commercial pipeline, CS MEDICA enters the remainder of FY 2025/2026 with increased commercial momentum. Management remains focused on scaling deliveries, improving margins, and progressing towards cash-positive and EBITDA-positive operations during the financial year.

For more information about CS MEDICA, please contact:
Gitte Lund Henriksen, CFO
Phone: + (45) 2774 2280
Email: glh@cs-medica.com
Website: https://www.cs-medica.com/

About CS MEDICA A/S
Founded in 2011, CS MEDICA is a Danish MedTech company specializing in CBD-infused treatments for autoimmune and stress-related conditions, including arthritis, psoriasis, and pain management. Operating at the intersection of the pharmaceutical and cosmetics industries, CS MEDICA delivers clinically supported products with fewer side effects, offering competitive and accessible alternatives. With MDR-approved products, cutting-edge R&D, and the benefits of CBD, the company provides innovative, safe, and effective solutions. Its capital-light business model and trusted European production partners further enhance its ability to offer high-quality treatments, setting CS MEDICA apart in the MedTech sector.