Aquaporin Announces Strategic Review Outcomes and Future Financial Goals

Aquaporin's Strategic Review and Financial Targets Update

Aquaporin A/S, based in Kongens Lyngby, Denmark, has conducted an in-depth strategic review aimed at exploring avenues for capital increase while ensuring sustainable growth in its water filtration business. This initiative comes against the backdrop of a pressing need for additional funding to support operations and reach ambitious growth targets beginning in 2026.

Initiation of the Strategic Review

In August 2025, Aquaporin embarked on a strategic review to assess various options for raising capital. The company's board of directors recently approved measures to facilitate this funding, including a potential rights issue to raise approximately DKK 78 million. The urgency arises from the necessity to bolster the company's operations and ensure that it can continue on its path to profitability. During an extraordinary general meeting held on December 1, 2025, shareholders empowered the board to issue new shares in a focused effort to meet financial requirements for the near future.

Capital Raising in Focus

The strategic review was led in collaboration with FIH Partners A/S, a financial advisory firm, which engaged in constructive discussions with both existing shareholders and potential investors. The aim of the rights issue is to address immediate capital needs while paving the way for the company's growth aspirations through enhanced operational capabilities and product offerings. Should this funding initiative encounter complications or yield less than anticipated, Aquaporin may find itself needing to adjust its business strategies, potentially delaying its growth trajectory or altering its business model significantly.

The importance of securing this capital cannot be overstated, as it plays a critical role in allowing Aquaporin to pursue diverse growth avenues while maintaining flexibility in its strategic options until it hits profitability.

Financial Guidance for 2026

As for financial forecasts, Aquaporin anticipates a significant revenue increase, aiming to double the revenue generated in 2025. However, the company projects an EBITDA loss in the range of DKK 40 to 50 million, reflecting its investment in scaling operations and product development. Factors influencing these projections include positive customer indications and the expected revenue growth from key segments, particularly Residential Drinking Water and Forward Osmosis.

Long-Term Strategy and Goals

Beyond immediate financial management, Aquaporin has set mid and long-term objectives that foresee achieving group-level profitability. The company estimates an annual growth rate in the mid double-digits for the near term, stabilizing at approximately 25% growth later on. This vision encompasses improved gross margins and a positive shift in EBITDA towards the end of the mid-term period, particularly as innovative product offerings, such as the second-generation Aquaporin Inside® membranes, come to market.

In the longer term, Aquaporin's ambitions include reaching a revenue figure around DKK 1 billion, driven by ongoing development and commercialization of its advanced water filtration technologies. The company sees the second-generation technology as a game-changer, enhancing the efficiency of Reverse Osmosis systems and unlocking new potentials for Forward Osmosis on an industrial scale.

Aquaporin is committed to maintaining a disciplined approach to operating expenses while ensuring robust investment in research and development. This balance will support sustainable growth, with operational requirements projected to rise in line with revenue increases following the attainment of profitability.

Conclusion

Aquaporin stands at a critical juncture, committed to innovating water filtration technologies while navigating the financial complexities of growth. As it pursues its rights issue and extends its market offerings, the company sets its sights on a future where it can address global water challenges effectively while achieving its financial objectives. Aquaporin's journey ahead is both ambitious and essential in paving the way for a sustainable water future.