Initiator Pharma Income Statement

Financials in millions DKK. Fiscal year is January - December.

Millions DKK. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	2020 - 2016
Cost of Revenue	14.83	11.07	23.41	38.43	21.63	Upgrade
Gross Profit	-14.83	-11.07	-23.41	-38.43	-21.63	Upgrade
Selling, General & Admin	2.95	3.43	3.62	3.32	1.44	Upgrade
Operating Expenses	2.95	3.43	3.62	3.32	1.45	Upgrade
Operating Income	-17.78	-14.5	-27.03	-41.74	-23.07	Upgrade
Interest Expense	-	-0	-0.09	-2.39	-1.17	Upgrade
Interest & Investment Income	1.09	0.29	0.21	-	-	Upgrade
Currency Exchange Gain (Loss)	-	-0.62	-0.8	-	-	Upgrade
Other Non Operating Income (Expenses)	-	-0	-	-	-	Upgrade
Pretax Income	-16.7	-14.84	-27.71	-44.13	-24.24	Upgrade
Income Tax Expense	-3.01	-1.9	-4.83	-5.68	-3.18	Upgrade
Net Income	-13.69	-12.93	-22.87	-38.46	-21.06	Upgrade
Net Income to Common	-13.69	-12.93	-22.87	-38.46	-21.06	Upgrade
Shares Outstanding (Basic)	62	56	52	48	35	Upgrade
Shares Outstanding (Diluted)	62	57	52	48	35	Upgrade
Shares Change (YoY)	8.78%	9.25%	8.47%	37.72%	28.18%	Upgrade
EPS (Basic)	-0.22	-0.23	-0.44	-0.80	-0.60	Upgrade
EPS (Diluted)	-0.22	-0.23	-0.44	-0.80	-0.60	Upgrade
Free Cash Flow	-17.77	-12.08	-17.65	-32.7	-34.1	Upgrade
Free Cash Flow Per Share	-0.28	-0.21	-0.34	-0.68	-0.97	Upgrade
EBITDA	-	-	-	-41.73	-23.06	Upgrade
D&A For EBITDA	-	-	-	0.01	0.01	Upgrade
EBIT	-17.78	-14.5	-27.03	-41.74	-23.07	Upgrade

Source: S&P Capital IQ. Standard template. Financial Sources.