MEDS Interim Report Q3 2025: Continued Strong Growth with Profitability

Third Quarter (July 1 – September 30, 2025)

• Net sales increased by 22% to SEK 249 million (205).
• Operating profit (EBIT) excluding non-recurring items rose to SEK 4.9 million (-0.5), corresponding to an adjusted EBIT margin of 2.0% (-0.2%).
• Adjusted earnings per share before and after dilution were SEK 0.27 (-0.05).
• Non-recurring items amounted to SEK 10.6 million (0.0), primarily related to costs associated with the listing of MEDS shares.
• Cash flow from operating activities was SEK 25.9 million (13.2).
• Cash flow for the period was SEK 82.7 million (9.5).
• Cash and cash equivalents totaled SEK 97.5 million at the end of the quarter.

January – September 2025

• Net sales increased by 24% to SEK 749 million (606).
• Operating profit (EBIT) excluding non-recurring items rose to SEK 14.7 million (-8.9), corresponding to an adjusted EBIT margin of 2.0% (-1.5%).
• Adjusted earnings per share before and after dilution were SEK 0.84 (-0.63).
• Non-recurring items amounted to SEK 16.6 million (-0.6), primarily related to costs for preparations ahead of the listing.
• Cash flow from operating activities was SEK 26.0 million (14.3).
• Cash flow for the period was SEK 76.3 million (-31.3).

Björn Thorngren, CEO, comments:
“The third quarter was both ordinary and extraordinary for MEDS. Ordinary, as we continue to grow steadily with profitability and strong cash flow. Extraordinary, as we listed the share on Nasdaq First North Growth Market at the end of the quarter, attracting great interest from investors and media.”

“We are gaining market share and grew by 22 percent during the third quarter. We now have over one million active customers and reached a turnover of nearly one billion over the last twelve months.”

The results for the period January – September 2025 will be presented by MEDS CEO Björn Thorngren and CFO Nick Mendola via Finwire today at 10:00. The presentation will be held in English. Link to join the webcast: https://www.finwire.tv/webcast/meds-apotek/meds-2025/.

For further information, please contact:
Press contact, email: press@meds.se
IR contact, email: ir@meds.se

About MEDS
MEDS, launched in 2018, is a full-scale online pharmacy licensed by the Swedish Medical Products Agency, operating in the Swedish market. MEDS offers customers prescription medicines, over-the-counter medicines, and a wide range of pharmacy-related products. As of September 30, 2025, the company had approximately 1 million active customers. Net sales for the past twelve months as of September 30, 2025 amounted to approximately SEK 972 million. The company’s headquarters are in Stockholm, and as of September 30, 2025, the number of employees was 50.