Monsenso presents half-year report for 2025

Copenhagen, 2025.08.29

(This message includes inside information on the outlook for 2025).

Monsenso’s H1 2025 report was approved by the Board of Directors today.

Performance highlights

• Total revenue was DKK 5,166k (H1 2024: DKK 5,527k).
• EBITDA was DKK -1,755k (H1 2024: DKK –1,270k).
• EBIT was DKK -4,066k (H1 2024: DKK –3,484k).
• Cash from operations was DKK 666k (H1 2024: DKK –3,840k).
• Cash and cash equivalents were DKK 1,381k (FY 2024: DKK 1,861k).

Business review

We are pleased to report on the results and the development in H1 2025. Our continued commitment to innovation and strategic growth has yielded significant progress across multiple areas.

Commercial Milestones

Implementation revenue grew by 12% in the period, driven by the launch of a digital research platform in Birmingham (UK), which will be used to provide long-term engagement and monitoring of patients with treatment-resistant depression

Our major digital, decentralised patient-centric study on headache/migraine with a global pharmaceutical company was completed with great success. New subscription revenue did not fully offset the completion of this project in the first half of 2025, which is the primary reason for a 16% decline in subscription revenue during this period.

In collaboration with three Spanish partners, we were selected as a vendor for a large project in a public tender in Spain, and the extensive work on this during the next months will contribute to the expected growth of the business for the second half of 2025.

Innovation and Research

Our three major innovation and research projects, Phase V, PERSONAE and MENTBEST are now operational and recruitment of patients is progressing across their total of five studies. However, the projects have been delayed due to difficulties with approvals and patient recruitment, but we now look forward to seeing the results over the next couple of years.

We have added great new functionalities to our digital health platform, including treatment content queue, automated content recommendations and patient screening.

Cash Flow

The payments from customers and credits from suppliers have improved in the period, causing cash from operations to be DKK 0.7m compared to DKK -3.8m in H1 2024.

Unchanged outlook for 2025

For 2025, we expect revenue to be DKK 12-13m, corresponding to growth of 8-16% and an EBIT of DKK -7m to DKK -6m.

Uncertainties and other financial information for 2025 are included in notes 1 and 2.

Management expects to have sufficient liquidity to manage the group's activities for the coming period.

Key figures
('000 DKK)	H1 2025	H1 2024
Revenue	5,166	5,527
EBITDA	(1,755)	(1,270)
EBIT	(4,066)	(3,484)
Profit (loss) for the year	(3,839)	(3,231)
Cash from operating activities	666	(3,826)
Cash and cash equivalents, end of period	1,381	1,861
Total assets, end of period	14,479	18,490
Equity, end of period	10,354	14,164
Net profit per share (DKK)	(0.06)	(0.07)
End-of-year, number of employees (FTE)	12	12

CEO Thomas Lethenborg and CFO Robert Højer have recorded a video that comments on the half-year report. The link is here: https://www.monsenso.com/investors/.

Disclaimer

This report contains forward-looking statements that are based on the current expectations of the management. All statements regarding the future are subject to inherent risks and uncertainties, and many factors may lead to actual results and developments deviating substantially from what has been expressed or implied in such statements.

Any inquiries regarding this notice should be directed to:

Monsenso

CEO
Thomas Lethenborg
Tel +45 21 29 88 27
E-mail: lethenborg@monsenso.com 

Chairman of the board
Peter Mørch Eriksen
E-mail: Petermorcheriksen@outlook.com

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1260 København K