MEDEZE Group Public Company Limited (SET: MEDEZE) reported a decline in profitability for the third quarter of 2025 (3Q25), reflecting the impact of a global and domestic economic slowdown alongside rising investment and operational costs tied to its long-term growth strategy.
Total revenue for the quarter stood at THB 181.27 million, down 21% year-on-year (YoY) from THB 229.18 million in 3Q24. Net profit dropped sharply by 68% YoY to THB 30.54 million, compared with THB 94.69 million in the same period last year. Earnings per share (EPS) also declined 75% YoY to THB 0.03.
Management attributed the revenue contraction primarily to weakened demand amid slower economic conditions both domestically and internationally. The downturn prompted customers to postpone or delay orders, while geopolitical uncertainties also dampened foreign demand, particularly from Cambodia—one of MEDEZE’s key markets.
Profitability was further pressured by higher operating expenses. Selling, General, and Administrative (SG&A) expenses increased 4% YoY, while administrative expenses rose 6% YoY, driven by increased staffing costs and higher depreciation from new investments, including the Sales and Marketing Building, New Warehouse Building, and MEDEZE Plus Auto Matching Software.
Additionally, the gross profit margin narrowed from 79% in 3Q24 to 71% in 3Q25, reflecting higher laboratory personnel costs and asset depreciation related to preparations for future expansion.
Positive Developments and Strategic Progress
Despite near-term financial pressures, MEDEZE underscored several milestones achieved during the quarter that reinforce its long-term growth trajectory:
- Award Recognition: MEDEZE received the Outstanding Health Business of the Year Award at the Thailand Top Entrepreneur Awards 2025, reaffirming its status as Thailand’s largest and most reputable stem cell bank and a leading player in Southeast Asia.
- Strategic Expansion: The Group launched the Advanced Therapy Medicinal Products (ATMPs) Sandbox Project in collaboration with the Ministry of Public Health, a key step toward advancing regenerative medicine and future-ready healthcare innovation.
- Corporate Governance Excellence: MEDEZE earned 86 points (3-star rating) in the 2025 Annual General Meeting (AGM) Checklist Assessment, underscoring its strong commitment to governance and transparency.
- Regional Confidence: The company hosted a delegation of investors from Indonesia, highlighting sustained international confidence in MEDEZE’s leadership and growth potential across Southeast Asia.
