Monsenso presents annual report for 2025

Copenhagen, 2026.03.05

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

Performance highlights

• The total revenue decreased by 20% to DKK 8,907k (2024: DKK 11,165k)
• EBITDA was DKK -2,961k (2024: DKK -2,053k)
• Operating profit (EBIT) was DKK -7,582k (2024: DKK -6,481k)
• Cash flows from operating activities were DKK -1,490k (2024: DKK -7,033k)
• The total equity as of December 31, 2025 amounted to DKK 6,976k (2024: DKK 14,164k)
• Total cash and cash equivalents as of December 31, 2025 amounted to DKK 54k (2024 DKK 1,861k)

Business development

• The year 2025 offered significant challenges, as it navigated delays in key strategic projects impacting revenue and financial performance. Particularly in Denmark, market conditions hindered progress, with a shift towards proprietary solutions in the public health sector. In Spain, an anticipated project faced delays due to a vendor selection appeal and ultimately resulted in a significantly reduced scope of work.
• Despite these hurdles, the company continued to engage in promising projects, and all innovation and research projects are progressing.
• Notably, the collaboration on the PhaseV innovation project with prominent partners has an advanced decentralised trials solution, with completed patient recruitment in one study and ongoing recruitment in two other studies. A fully decentralised headache research study based on our platform in collaboration with Lundbeck and Nationalt Videnscenter for Hovedpine has been completed, and the first publications are out.
• Additionally, the PERSONAE project, focused on personalized treatment through AI, is moving forward with the randomized controlled trial. The Mentbest project, targeting mental health through an AI-driven self-help tool, is actively recruiting participants across multiple European countries.
• We still believe the markets for digital health within mental health and chronic disorders remain attractive, driven by the urge for efficiency in European healthcare systems. As we enter 2026, we see great opportunities to grow the business again powered by a few larger projects.

Thomas Lethenborg, CEO says:

“Digital health is definitely high on the agenda across both public and private providers, research institutions and pharmaceuticals. The realisation that the combination of continuous patient-reported outcomes monitoring for deeper insights and data-driven, blended care is key to efficient future healthcare delivery is growing.” 

Outlook for 2026

For 2026, we expect revenue of around DKK 11m, corresponding to 24% growth, with an EBIT of DKK -4m. The expectations are associated with significant uncertainties, including going concern, which are described in notes 2 and 3 to the financial statements.

Key figures
('000 DKK)	2025	2024
Revenue	8,907	11,165
EBITDA	(2,961)	(2,053)
EBIT	(7,582)	(6,481)
Profit (loss) for the year	(7,217)	(6,001)
Cash and cash equivalents	54	1,861
Total assets, end of year	13,050	18,490
Equity, end of year	6,976	14,164
Net profit per share (DKK)	(0.11)	(0.12)
End-of-year, number of employees (FTE)	10	13

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

Disclaimer

This report contains forward-looking statements which are based on the current expectations of the management. All statements regarding the future are subject to inherent risks and uncertainties, and many factors can 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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