ArcticZymes Technologies announces Q4 2024 Financial results

13 Feb 2025 07:00 CET

Tromsø, Norway, February 13th, 2025 - ArcticZymes Technologies (OSE: AZT)
reported total revenues of NOK 26.4 million and an EBITDA of NOK 2.7 million for
the fourth quarter of 2024.

Financial Highlights:

· Total revenue for Q4 2024 was NOK 26.4 million, compared to NOK 29.1 million
in Q4 2023. 2024 12M revenue totals NOK 108.1 million (12M 2023: NOK 119.7
million).
· EBITDA for the quarter came in at NOK 2.7 million (Q4 2023: NOK 1.9
million), with a profit before tax of NOK 5.1 million. 12M 2024  EBITDA stands
at NOK 5.3 million (12M 2023: NOK 22.1 million), and profit before tax at NOK
5.5 million (12M 2023: NOK 22.2 million).
· Operating expenses for Q4 were NOK 23.8 million, with NOK 1.5 million
attributed to the implementation of a new ERP system. Total operating expenses
for the 12M 2024 months reached NOK 102.9 million.
· ArcticZymes ended Q4 with a robust cash position of NOK 170 million,
alongside an additional NOK 72 million in low-risk interest rate funds.

ArcticZymes Technologies Focuses on commercial transformation for Long-Term
Growth

ArcticZymes Technologies concludes 2024 with a focus on core initiatives aimed
at driving long-term growth. In Q4, significant progress was made in
strengthening company capabilities through a commercial transformation and
laying the groundwork for future success. A early sign of progress is the
growing number of unique customers within our biomanufacturing segment which
during Q4 hit an alltime high. This is a 31% increase compared to Q4 2023. Most
customers are utilizing the SAN portfolio in early-stage projects, with the
potential for significant long term ramp up of revenue from our increasingly
broad customer base.

"In Q4, we made significant strides in strengthening our commercial capabilities
and laying the foundation for long-term growth. While revenues reflect a
transition period, our EBITDA improvement and quarter on quarter revenue growth
highlights progress. With a strengthened commercial team, new product launches,
and strategic partnerships ahead, we are well-positioned to support the evolving
needs of our customers. 2025 will be a year of execution, focusing on customer
-centric innovation and commercial transformation to drive sustainable growth."
Commented Michael Akoh, CEO of ArcticZymes Technologies.

Key Initiatives to Support Long-Term Growth Throughout Q4, ArcticZymes worked to
enhance its product offerings and commercial strategies, ensuring alignment with
evolving industry needs. Notable developments include the following launches in
December 2024:

1. SAN HQ GMP neo: A GMP-compliant version of the widely utilized SAN HQ Triton
FREE, addressing stringent regulatory requirements and enhancing production
flexibility and efficiency for gene, and vaccine biomanufacturing.
2. SAN HQ ELISA SensoPlus: This next-generation assay offers over fivefold
improved sensitivity for detecting trace amounts of SAN HQ nucleases during
therapeutic manufacturing processes, enabling precise monitoring and reducing
costs.

These products reflect ArcticZymes' commitment to innovation and its dedication
to supporting biomanufacturers in meeting regulatory and operational challenges.

Strategic Focus on Partnerships and Direct Sales Recognizing the importance of
collaboration and customer engagement, ArcticZymes has emphasized both strategic
partnerships and direct sales as critical components of its long-term strategy:

· Partnerships: Collaborating with leading organizations remains a cornerstone
of ArcticZymes' growth strategy. SAN OEM agreement discussions continued
positively  in the quarter. Additionally, the integration of M-SANQ HQ into a
leading viral vector CDMO's manufacturing protocols, starting in Q2 2025,
highlights the importance of partnerships in broadening market access.
· Direct Sales: Direct engagement with customers continues to be a key
priority. This approach enables ArcticZymes to gain valuable feedback, adapt to
client needs, and innovate more effectively. By maintaining close relationships
with customers, the company ensures its solutions remain highly relevant and
impactful. The commercial team has been restructured and strengthened with the
addition of new experienced Business Developers and a Marketing Director. This
revamped team is instrumental in creating a customer-centric organization,
ensuring that ArcticZymes is well-positioned to address client challenges and
deliver tailored solutions.

Collaboration with acib This partnership has already generated significant
scientific material in real-world customer settings of viral vector
manufacturing. Understanding the customers workflows is a key compont of
becoming more customer centric. More posters and publications are planned as the
collaboration progresses in 2025, further cementing ArcticZymes' role as a
thought leader and innovator in the biomanufacturing space.

Innovation and Future Growth ArcticZymes remains committed to advancing its
enzyme portfolio:

· The SAN program is on track to deliver a full comprehensive GMP-grade
nuclease portfolio by mid-2025, uniquely positioning the company to support
advanced therapies also in the later drug development phases.
· The ADEPT project, co-funded by the Norwegian Research Council, is driving
diversification into mRNA enzyme solutions. A new RNA restriction enzyme has
entered the development phase on route to be commercialized.

Operational Improvements ArcticZymes has made significant investments in its
operational infrastructure and hereby also scalling abilities.

· The successful implementation of a new Enterprise Resource Planning (ERP)
system, Jeeves, enhances scalability and operational efficiency. The system went
live December 2[th], 2024 and will support both compliance as well as scalabity
throughout the value chain.

Outlook for 2025 The combination of strategic partnerships, customer centric
transformation, and a robust innovation pipeline will enable the company to meet
market demands, drive growth, and deliver value to clients and shareholders.

-Ends-

Presentation and Webcast
The Company will host a virtual Q4 and 12M 2024 presentation for investors,
analysts and media at 10:00 CET on Thursday, 13 February, 2025.

The presentation will be given by CEO, Michael Akoh, VP Sales and Marketing Paul
Blackburn and CFO, Børge Sørvoll.

The presentation can be followed as a live webcast from Hegnar TV on
https://channel.royalcast.com/landingpage/hegnarmedia/20250213_19/ or
www.arcticzymes.com. It will be possible to post questions through the webcast
console.

The report for Q4 and 12M 2024 will be available on www.newsweb.no and on the
company's homepage www.arcticzymes.com from 07.00 CET on Thursday, 13 February,
2025.

For more information, please contact:

ArcticZymes Technologies ASA
CEO, Michael B. Akoh Tel: +46 (0) 70 262 37 15
CFO, Børge Sørvoll                            Tel: +47 95 29 01 87
                                              ir@arcticzymes.com


About ArcticZymes Technologies ASA

ArcticZymes Technologies is a Norwegian life sciences company focused on the
development, manufacturing and commercialization of novel recombinant enzymes
for use in molecular research, In Vitro Diagnostics (IVD) and biomanufacturing.

Listed on the Oslo Stock Exchange since 2005 originally under the [AZT] ticker.
Its headquarters are based in Tromsø, Norway, at the SIVA Innovation Centre.

ArcticZymes Technologies' IP and capabilities are protected via a large
portfolio of patents.

For more information, please visit the website: www.arcticzymes.com

More information:
Access the news on Oslo Bors NewsWeb site

638489_AZT_Q4_2024_Report.pdf
638489_AZT_Q4_2024_Press_release.pdf
638489_AZT_Q4_2024_Presentation.pdf