BIOG-BNasdaq StockholmHealth CareIFRS · SEK

BioGaia

BioGaia AB is a Swedish company specializing in the development, manufacturing, and marketing of probiotic products aimed at enhancing gut, oral, and immune health. With over 35 years of experience in microbiome research, BioGaia is a leader in the probiotic industry, primarily utilizing strains of the lactic acid bacterium Limosilactobacillus reuteri. The company's products are distributed globally through partnerships and direct sales, and its shares are listed on the Nasdaq Stockholm Mid Cap List.

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Revenue1,538m SEK
+8.1 %y/y
Operating profit (EBIT)412m SEK
−2.6 %y/y
EBIT margin26.8%
−2.9 ppy/y
Net income333m SEK
−5.3 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

0100,000200,000300,000400,000500,000m SEK2021: 785 m SEK2021: EBIT 254 m SEK20212022: 1,104 m SEK2022: EBIT 361 m SEK20222023: 1,297 m SEK2023: EBIT 443,103 m SEK20232024: 1,423 m SEK2024: EBIT 423 m SEK20242025: 1,538 m SEK2025: EBIT 412 m SEK2025TTM 2026: 1,654 m SEKTTM1,654
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year
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Business

Share of revenue
Gut Health Products40 %

Includes colic drops and chewable tablets for gut health.

Oral Health Products25 %

Includes lozenges and tablets for oral health.

Immune Health Products15 %

Products designed to support immune health.

Licensee Products20 %

Bacterial cultures sold for use in other companies' products.

Customers

BioGaia's customer base is diverse, spanning across nutrition and pharmaceutical companies, healthcare providers, and direct consumers. The company partners with major nutrition and pharmaceutical firms to distribute its products in over 100 countries. Consumers seeking probiotic supplements for gut, oral, and immune health form a significant part of its customer base. BioGaia also caters to licensees who incorporate its bacterial cultures into their own products, such as infant formula and dairy products.

Nutrition Companies

Purchase bacterial cultures for integration into their products.

Pharmaceutical Companies

Distribute BioGaia's probiotic products globally.

Direct Consumers

Buy probiotic supplements for personal health benefits.

Licensees

Incorporate BioGaia's strains into their own products.

Strategy

BioGaia's strategic priorities focus on expanding its brand presence and increasing direct sales. The company aims to strengthen its position in the adult health segment, which has shown significant growth. BioGaia is also enhancing its online sales channels to reach a broader audience. The company is committed to maintaining a strong operating margin while investing in marketing and distribution to support growth in key markets.

Expand direct salesMedium term

To increase market penetration and control distribution.

Focus on adult health segmentShort term

To capitalize on growing demand for adult probiotics.

Enhance online salesMedium term

To reach a wider consumer base and increase sales.

Geography

BioGaia operates in over 100 countries, with direct sales subsidiaries in nine key markets including Sweden, Finland, France, the UK, USA, Canada, Australia, New Zealand, and Japan. The company's strategic geographic presence allows it to cater to diverse markets and leverage local partnerships. BioGaia's products are particularly popular in North America and the APAC region, where demand for probiotics is strong. The company also holds patents in all major markets, protecting its proprietary strains and packaging solutions.

Risks

BioGaia faces several risks, including market competition, regulatory changes, and currency fluctuations. The company's reliance on distribution partners poses a risk if partnerships are terminated or underperform. Regulatory changes in health and safety standards could impact product approvals and market access. Currency fluctuations, particularly with the Swedish Krona, can affect financial results. Additionally, the company's growth strategy depends on successful market penetration in new regions, which may present operational challenges.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Currency fluctuations1Regulatory changes3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Currency fluctuationsImpact: HighLikelihood: Low

    Fluctuations in SEK can affect profitability.

  2. Market competitionImpact: High

    High competition in the probiotic industry could affect market share.

  3. Regulatory changesImpact: MediumLikelihood: Low

    Changes in health standards could impact product approvals.

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Accounting

Judgemental items
Revenue recognition

Timing and terms affect reported sales and royalties.

Currency translation adjustments

Exchange rate fluctuations impact financial results.

Fair value measurements

Involves judgment for financial liabilities related to acquisitions.

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Last updated: 24/09/2026

BioGaia (BIOG-B) Revenue, Earnings & Financials 2025 – Clarifo