Press release from Companies
Published: 2025-11-18 08:14:28
Katalysen Ventures AB (publ) hereby publishes the report for the Third Quarter 2025. The full report is available immediately as an attached document, and on the company''s website (www.IR.katalysen.com). Below is a summary of the report.
KPIs at End of Period:
General Financial KPIs:
| Group* (Thousand SEK) | Q3 2025 | Q3 2024 | 2024 |
| Net sales | 685 | 4 | 406 |
| Profit after financial items | -1 627 | -2 150 | -18 863 |
| Balance sheet total | 60 958 | 67 506 | 64 289 |
| Solidity** | 94,8% | 95% | 93,4% |
| Earnings per share | -0,18 | -0,28 | -2,37 |
| Number of outstanding shares | 9 115 826 | 7 787 654 | 7 954 025 |
| Parent* (Thousand SEK) | Q3 2025 | Q3 2024 | 2024 |
| Net sales | 389 | 0 | 406 |
| Profit after financial items | -2 006 | -2 156 | -16 727 |
| Balance sheet total | 59 053 | 67 662 | 63 610 |
| Solidity** | 95,1% | 97,9% | 96,2% |
| Earnings per share | -0,22 | -0,28 | -2,10 |
| Number of outstanding shares | 9 115 826 | 7 787 654 | 7 954 025 |
Important events during the period:
| 2025-07-01: Katalysen announced the completion of a Venture Targeter transaction in Spotlight-listed Syncro Group AB (publ). Syncro is a technology-driven platform company offering an AI-based end-to-end solution for influencer marketing. The company combines consultancy services with a scalable SaaS platform, enabling efficient and transparent campaigns for brands and media agencies. Through strategic partnerships with leading agency groups across Europe, Syncro is building a strong position in a growing market. In this first step, the transaction means that Katalysen acquires approximately 1.5 percent of the shares and around 2 percent of all series TO9 warrants. |
| 07-04: Katalysen announced that Alternativa Nordics AB (“Alternativa”) - a newly established company founded by Katalysen Ventures AB (publ), Apollonian AG and Greenshoe Capital AB as equal partners – has acquired the digital platform eAktiebok from FinReg Solutions AB, a subsidiary of Spotlight Group AB. The purchase price amounts to a maximum of approximately SEK 3.5 million, of which up to SEK 1.0 million is an earn-out based on future performance. Alternativa takes over an already established platform with proven demand, a functioning revenue model, and a growing customer base. With the ambition to become a leading digital player in shareholder administration and transactions for unlisted companies, Alternativa will continue to develop its offering step-by-step – in close dialogue with the market. There are more than 779,000 unlisted limited companies in Sweden. Alternativa aims to meet their needs with simple, efficient, and transparent digital tools. |
| 07-09: The Board of Directors of Katalysen announced the outcome of the rights issue of shares that the Board of Directors resolved to carry out on 12 June 2025 (the "Rights Issue"). The Rights Issue has been subscribed to a total of approximately 65 percent, approximately 28.1 percent through the exercise of subscription rights, approximately 8.0 percent without the exercise of subscription rights, and approximately 28.9 percent to be subscribed by the guarantor. The guarantee was provided free of charge by an existing shareholder, demonstrating a strong commitment to the Company. Based on this outcome, Katalysen will receive approximately SEK 5.5 million from the Rights Issue before issue costs. |
| 07-18: Katalysen announced that the rights issue of shares, whose subscription period ended on 8 July 2025 (the "Rights Issue"), has now been registered with the Swedish Companies Registration Office. Katalysen also announced that the last day of trading in BTA (paid subscribed share) is 23 July 2025, and the cut-off date is 25 July 2025. |
| 07-19: Katalysen published its report for the 2025 Q2 period. |
Important events after the period:
| 09-02: Katalysen announced that the subscription period for the Company’s warrants expired on 2025-08-31. During the subscription period 2024-06-05 to 2025-08-31, a total of 614'436 warrants were exercised for the subscription of 614'436 new shares in the Company, corresponding to a subscription rate of 51.2% of all issued warrants. |
| 09-22: Katalysen announced that five portfolio holdings represent 70%+ of the portfolio’s total value, labelling these “core investments”. This initiative is aimed at providing shareholders with more frequent and transparent updates on the Company’s most important value drivers.The Company announced InvitePeople as the first of these five core investments. Stockholm-based event-tech company InvitePeople, in which Katalysen holds approximately 15%, is demonstrating strong operational momentum. Recurring revenues have increased from 60% to 85%, overall revenues are growing while costs have fallen by 60%, resulting in strong positive cash flow and likely upward forecast revisions for next year, supported by new strategic initiatives and a partnership opportunity with the potential to more than double revenues over time. |
| 09-29: Katalysen announced its existing holding in Alternativa as its second core investment. Stockholm-based fintech company Alternativa, in which Katalysen is an equal founding shareholder alongside Apollonian and Greenshoe, is expanding rapidly with over 1,000 clients, 12,000 members, and 60,000 users. The company is scaling a proven digital ownership platform under the leadership of CEO Martin N. Larsson, while introducing new tools for ownership management, issuances, and private share transactions to modernize and bring transparency, accessibility, and efficiency to Sweden’s 400,000-strong private company market. |
| 09-39: Katalysen announced its existing holding in QuTEM as its third core investment. Stockholm-based analytics company QuTEM, in which Katalysen holds approximately 15%, has achieved peer-reviewed validation of its electron microscopy technology as a new gold standard for quality control in gene therapy (recognized by Viralgen and major pharmaceutical manufacturers). The company is profitable, operates under international GMP certification, and has introduced a scalable new sales model that positions it at the center of the rapidly expanding global gene therapy market. |
| 10-17: Katalysen announced its existing holding in S4DX as its fourth core investment. Munich-based medtech company S4DX, in which Katalysen is a long-term strategic partner, has launched its first UK pilot as part of a broader European expansion. The company provides CE-approved hybrid software and hardware solutions that deliver full traceability and evidence-based control in the pre-analytical phase of blood diagnostics (now adopted by major hospital trusts and global IVD partners such as Beckman Coulter, Roche, and Siemens Healthineers), positioning S4DX at the forefront of a global push for quality, transparency, and digital traceability in laboratory medicine. |
| 10-20: Katalysen announced that the Company’s Board of Directors had resolved to carry out a directed share issue of 493’615 new shares at a subscription price of SEK 6 per share corresponding to a discount of approximately 10.04% compared to the VWAP during the period from 15th of September to 20th of October, which amounted to SEK 6,67. Through the directed share issue, Katalysen will receive proceeds amounting to approximately SEK 3.0 million before transaction costs. Total transaction costs are estimated at SEK 30’000. |
| 10-27: Katalysen announced its existing holding in VALEGA as its fifth core investment. Helsinki-based data-analytics company VALEGA, in which Katalysen holds over 20%, is emerging as a leader in digital asset compliance. The company serves major financial institutions, advisory firms, and law enforcement agencies across Europe, North America, and Asia with a proprietary data infrastructure unifying transaction monitoring, risk intelligence, forensics, and reporting. VALEGA is positioned at the forefront of the global shift toward regulated, institutional digital finance under frameworks such as MiCA and US Treasury guidance, with revenues doubling annually and expansion accelerating across the UK, Germany, and North America. |
| 11-17: Katalysen announced the launch of a new Investor Relations portal, available at www.ir.katalysen.com. |
Report from CEO Anders Dahlgren
The third quarter of 2025 has been eventful and strategically important for Katalysen. We have continued to strengthen our portfolio, deepen key partnerships, and secure the financial flexibility needed to execute on our long-term goals.
A key milestone was the completion of our financing activities. The rights issue, closed in July and subscribed to 65%, together with a fully subscribed directed issue carried out in early October, provides us with a more solid capital base and the ability to continue creating value across our portfolio and in new Venture Targeter initiatives.
In early July, we expanded our Venture Targeter activities through Alternativa Nordics AB, where Katalysen, together with investors, experts, and the new CEO, acquired eAktiebok from Spotlight Stock Market. This transaction exemplifies our model of combining capital, expertise, and networks to unlock value in complex situations, without requiring direct capital investment for Katalysen. We also strengthened our collaboration with Valega Chain Analytics, resulting in a new revenue-generating agreement and deeper operational alignment.
Our core portfolio continues to develop positively. QuTEM has expanded its client base through new U.S. partnerships, making the American market more accessible and addressing a new market segment, further reinforcing its position as a global leader in GMP-certified TEM analysis. S4DX continues to benefit from increasing regulatory demand within digital pre-analytics. InvitePeople advanced three major deals, one of which has been signed with a global client. This deal is expected to significantly increase, potentially double, the company’s turnover. The remaining two deals remain in active discussions.
Financially, the quarter showed clear progress. The result for the period improved by 25% compared with the same quarter last year, reflecting the effects of efficiency measures and growing revenue streams. Recurring revenue continued to grow at a modest but steady pace, strengthening the stability of our revenue base, and we expect this trend to continue. The estimated portfolio value increased from SEK 135 million to SEK 141 million during the period, an increase of roughly 4%, driven by strategic initiatives in several portfolio companies that raised our ownership positions without any revaluations.
Our exit focus remains firm, with several mature portfolio companies showing strong momentum, some with the potential to reach exit during Q1 2026. In parallel, we continue to work actively on new Venture Targeter transactions to broaden the portfolio and strengthen our medium-term pipeline. We remain fully committed to realizing value and reinforcing capital and liquidity for future investments.
Beyond our portfolio work, we have also focused on strengthening how we communicate and engage with our stakeholders. We are pleased to have launched our new investor relations website, ir.katalysen.com, which we believe will make a significant difference in how we share updates and communicate with our shareholders going forward.
Building on these efforts, we also intensified our investor relations activities during the quarter and initiated a recurring series of IR-focused events, bringing together investors, experts, and entrepreneurs to explore new opportunities for collaboration and value creation. By the time of this report’s publication, three successful and well-received events have been held, and the series will continue into next year.
As we look ahead, Katalysen remains dedicated to developing, strengthening, and realizing the value of entrepreneurial ventures through active engagement and smart capital. With a strengthened balance sheet, renewed transaction activity, and a clear strategic focus on our most promising holdings, we enter the final quarter of 2025 with confidence and momentum.
Yours Sincerely,
Anders Dahlgren
Chief Executive Officer
Katalysen Ventures AB (publ)
This disclosure contains information that Katalysen Ventures AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 18-11-2025 08:14 CET.
For more information on Katalysen Ventures, please contact:
CEO Anders Dahlgren
E-mail: ad@katalysen.com
Web: www.katalysen.com
About Katalysen: Katalysen builds a portfolio of innovation-driven companies. We lead and invest in projects that help owner-managed businesses and investors turn major challenges into opportunities for short- and long-term value creation. We are defined by a highly collaborative approach, a focus on transformative special situations, and bespoke investment structures that ensure alignment of interests for all stakeholders. Since our founding in 2016, we have built a portfolio of 20+ dynamic companies, with a primary focus on B2B technology providers. With offices in Stockholm and Geneva, Katalysen has been publicly listed since 2022.
