Navamedic posts double-digit Q3 revenue growth, driven by acquisition

Navamedic ASA reported Q3 2025 revenues of NOK 138.9 million, a 12.9% increase year-over-year, with a gross margin expanding to 37.5% from 37.1% in Q3 2024. Adjusted EBITDA reached NOK 11.3 million, up from NOK 8.6 million in the same period last year. This growth was fueled by strong performance across all three business areas, including a NOK 10.6 million contribution from the recently acquired dne Pharma business, which adds an addiction treatment portfolio to the Rx segment.

The acquisition of the dne Pharma portfolio was finalized in July, followed by a successful rights issue in October. Operating costs increased to NOK 40.8 million, up from NOK 37.1 million last year, largely due to continued investments in growth initiatives. The operating result (EBIT) for Q3 2025 was a negative NOK 0.2 million, primarily impacted by the amortization of intangible assets from the dne transaction.

Net financial items were negative NOK 3.6 million, resulting in a pre-tax loss of NOK 3.8 million. Despite this, total cash flow for the quarter was positive NOK 9.1 million, bringing the cash balance to NOK 51.7 million at the end of the quarter. Navamedic maintains its mid-term goal of becoming a NOK 1 billion revenue company.