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ArcticZymes Technologies Call Transcript 2026
3538_rns_2026-05-07_afceffd3-9186-44be-9abe-b9261f26b914.pdf
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Q1 2026
Solid Start to 2026
May 7, 2026
CEO Michael Akoh
CFO Børge Sørvoll
CCO Paul Blackburn
ArcticZymes Technologies
Agenda
- Q1 highlights and key takeaways
- Commercial update
- Financial performance
- Ambition, Strategy and Executing on our priorities
- Q & A
ArcticZymes Technologies
Q1 2026 · HIGHLIGHTS
Building the Foundation: Strong Q1 Sets Up 2026
| FINANCIAL PERFORMANCE | SALES REVENUE | EBITDA | STRATEGIC MILESTONES |
|---|---|---|---|
| TOTAL REVENUE |
35.0 MNOK
▲ +41% vs NOK
24.9m prior year | 31.8 MNOK
Constant Exchange Rates
35 MNOK · +50% YoY
▲ +36% vs NOK
23.3m prior year | 1.6 MNOK
▲ NOK 5.3m
turnaround vs Q1 2025 | COMMERCIAL
CMD Validation
Capital Markets Day — strong technology validation from key partners
IP
European Patent Granted
RNA Restriction Enzyme patent secured across Europe
MARKET DEVELOPMENT
Metagenomics Webinar
160 global participants — growing community around core platform
THOUGHT LEADERSHIP
White Paper: Economics of SAN
Published to position AZT as a gamechanger in viral vector manufacturing |
ArcticZymes Technologies
INTELLECTUAL PROPERTY
EU patent granted
RNA restriction enzyme technology
"We are building a strong IP foundation around innovative enzyme technologies for RNA therapeutics manufacturing."
— Olav Lanes, VP Scientific Strategy & Technology
01 WHAT WAS GRANTED
Novel RNA restriction enzyme family covering analytical, process development & manufacturing workflows for therapeutic RNA production.
02 WHY IT MATTERS
Gives RNA therapeutics manufacturers the IP security and freedom to operate they need to build AZT's technology into processes with confidence.
03 WHAT COMES NEXT
Pending applications in multiple jurisdictions. Further IP creation and strategic collaborations planned to expand AZT's RNA therapeutics position.
ArcticZymes Technologies
Independent Validation by Partners in Real conditions
Validated Performance, Growing Reach by partnering with leading research institutions
WHERE WE STAND
Independent data foundation to quantify M-SAN's commercial value:
~2× process yield improvement
>70% lower nuclease costs
~40% lower cost of goods per dose
WHAT COMES NEXT
Enrolled 2026 as associated partner in CAARE — EU Horizon Europe doctoral network coordinated by ACIB, spanning seven leading European research institutions.
ACIB-AZT Joint Webinar
June 11, 2026
Commercial Update Q1 2026
ArcticZymes Technologies
Q1 2026 Sales Highlights
Broad-Based Growth - Strongest Q1 on Record (ex-covid)
Q1 2026 Total Revenue
31.8 MNOK
35 MNOK CER
+36% YoY · +8.4 MNOK vs Q1 2025
Biomanufacturing
15.1 MNOK
+11% YoY
Molecular Tools
16.6 MNOK
+72% YoY
- Above 3-year average across both segments
- 4 consecutive quarters of trailing 12M growth
- Broad based growth – several large accounts contribute
Total Sales per Quarter (MNOK)
Above-average quarter, multi-quarter momentum, broad-based growth
ArcticZymes
Technologies
Biomanufacturing
M-SAN HQ Drives Growth - GMP Momentum
Biomanufacturing
15.1 MNOK
+11% YOY
- M-SAN HQ franchise - 2nd-best quarter ever: 110% Growth
- GMP momentum: M-SAN HQ GMP +41% QoQ, reflecting continued commercial-stage adoption
- Customer mix: top-three global CDMOs led; smaller contributions from three mid-tier European CDMOs
ArcticZymes Technologies
Molecular Tools
Key-OEM-Led Growth with Healthy Underlying Demand
Molecular Tools
16.6 MNOK
+72% YoY
- dsDNases: +135%
- rSAP: +289%
- Cod UNG: +9%
- Top-five customers all Cod UNG buyers - three diagnostics platforms ramping
- Proteinase: Orders locked-in for the rest of 2026 from a US early-detection diagnostics customer
ArcticZymes Technologies
Commercial Commentary
Indicators Support Continued Momentum
Operational Momentum
- AOV +34% YoY - quality of revenue improving
- +25 new paying customers in Q1; 169 paying customers (flat)
- Trailing 12M sales up for 4 consecutive quarters
Watchpoints
- Order phasing effects expected to normalize through H2 in East Coast
- APAC Mol Tools soft; recovery dependent on Indian key accounts re-ordering
- Key OEM concentration in Mol Tools
Strong Q1 Revenues · Visible 2026 revenue from key diagnostics customers · Commercial-stage GMP momentum building
ArcticZymes Technologies
ArcticZymes Technologies
Financial Performance
Currency impact
Underlying growth despite headwinds
- Norwegian krone continued strengthening against the USD
- Norwegian krone strengthened against the EURO in the Q1 2026.
Adjusting revenues for constant currency:
| Q1 2026 | Q1 2026 Adj | Change | |
|---|---|---|---|
| 31.8 MNOK | 35.0 MNOK | 3,2 MNOK | 10% |
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ArcticZymes Technologies
Commercial execution in focus
Expense development in alignment with plans
Personnel expenses
- Continued reduction in capitalization
- Full effect of 2025 commercial hires driving topline
Other operating expenses
- COGS increased in Q1 due to re-calculation of inventory
- Continued investment in IPR and external expertise to support scaling the company
- New lease premises in place – minor technical adjustment (other revenues +0,6 MNOK / OPEX -0,4 MNOK)
- Currency headwinds continue
| Q1 | ||
|---|---|---|
| 2026 | 2025 | |
| Sales revenues | 31,8 | 23,3 |
| Other revenues | 3,3 | 1,6 |
| Sum revenues | 35,1 | 24,9 |
| Cost of materials | -1,4 | -1,2 |
| Change in inventory | -0,7 | 0,3 |
| Personnel expenses | -20,8 | -18,8 |
| Other operating expenses | -10,6 | -9,0 |
| Sum expenses | -33,5 | -28,6 |
| EBITDA | 1,6 | -3,7 |
| Depreciation and amortisation | -2,3 | -2,3 |
| EBIT | -0,7 | -6,0 |
| Net financials | 1,3 | 1,9 |
| EBT | 0,6 | -4,1 |
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ArcticZymes
Technologies
Margin improvement over last year
Positive EBITDA
Sales & EBITDA
| Q1 | ||
|---|---|---|
| 2026 | 2025 | |
| Sales revenues | 31,8 | 23,3 |
| Other revenues | 3,3 | 1,6 |
| Sum revenues | 35,1 | 24,9 |
| Cost of materials | -1,4 | -1,2 |
| Change in inventory | -0,7 | 0,3 |
| Personnel expenses | -20,8 | -18,8 |
| Other operating expenses | -10,6 | -9,0 |
| Sum expenses | -33,5 | -28,6 |
| EBITDA | 1,6 | -3,7 |
| Depreciation and amortisation | -2,3 | -2,3 |
| EBIT | -0,7 | -6,0 |
| Net financials | 1,3 | 1,9 |
| EBT | 0,6 | -4,1 |
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ArcticZymes
Technologies
Cash flow and short-term investments
Robust 264 MNOK position secures commercial execution
Cash and STI position
*includes changes in STI of +0.8 MNOK
ArcticZymes
Technologies
Strategy, Ambition and Priorities
Delivering on our strategic agenda
01
Umbrella Strategy
Customer focus & diversification
02
Strategic Pillars
Molecular Tools · Viral Vectors · RNA · Channel
03
Financial Ambition
Double-digit growth & disciplined execution
ArcticZymes Technologies
Building a Scalable Enzyme Platform
Strategic pillars accelerating growth and resilience
Umbrella Strategy
-
Customer focused market approach
Transition from product-oriented enzyme supplier, to a customer centric, application lead/solutions provider -
Create a wider base – diversification
Increase the number of markets addressed and products sold
Molecular tools
Viral Vectors
RNA Therapeutics
Channel
17
ArcticZymes Technologies
Driving Scalable Profitable Growth
Financial ambition. Disciplined focused execution.
OUR AMBITION
Sustainable double-digit growth, targeting outperformance of served markets:
→ EBITDA margin expansion through operating leverage
→ Stronger cash generation and financial flexibility
→ Selective, value-accretive investments
OUR EXECUTION
Core priorities (2026-2028):
→ Scale a high-performance commercial engine
→ Innovation through R&D and partnerships
→ Expand SAN (GMP) penetration in CDMOs
→ Expand NGS/metagenomics exposure
→ Establish RNA as a scalable growth pillar
→ Focused growth
→ Increased operational leverage
ArcticZymes Technologies
ArcticZymes Technologies
Thank you
Q & A