Interim report: SciBase

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SciBase

18 Aug, 2022, 06:25 GMT

STOCKHOLM, Aug. 18, 2022 /PRNewswire/ --

January 1 - June 30, 2022

The first quarter in figures

Net sales amounted to TSEK 3,726 (2,258), +65%.
The loss after tax amounted to TSEK 9,212 (11,151).
The loss per share amounted to SEK 0.13 (0.19).
The cash flow from current operations was negative in the amount of TSEK 9,643 (9,162).
The gross margin reached 70,6% (56.3%).
Electrode sales volume increased by 60% and reached 9,550 (5,968) units. Repeat sales of electrodes to existing customers increased by 58%.

January - June in figures

Net sales amounted to TSEK 7,987 (4,821), +66%.
The loss after tax amounted to TSEK 18,948 (19,304).
The loss per share amounted to SEK 0.28 (0.34).
The cash flow from current operations was negative in the amount of TSEK 20,155 (18,635).
The gross margin reached 66,4% (54.4%).
Electrode sales volume increased by 45% and reached 19,580 (13,464) units. Repeat sales of electrodes to existing customers increased by 45%.

Important events during the quarter

Overall sales increased by 65% (+56%, before currency effects). The sales in the important US market increased within the area of skin cancer by 146% (in local currency by 104%). Sales in Germany increased by 54% (49% in local currency).
A new study performed in Germany and published online in the journal Dermato demonstrated the clinical benefits of Nevisense in day-to-day practice.
A new study published in the US demonstrated that EIS and Nevisense can significantly improve clinical decisions in the dermatology day-to-day practice, especially for less experienced clinicians. The study titled – "Diagnostic Efficacy Of Electrical Impedance Spectroscopy Versus Dermoscopy For Pigmented Skin Lesions: A Pilot Study" and authored by Dr Jonathan Ungar, Associate Director and Assistant Professor, Dermatology Department, et al at Icahn School of Medicine at Mount Sinai, New York, was published online in "SKIN-The Journal of Cutaneous medicine".
The annual report for 2021 was published.
The AGM 2022 was held on May 18, 2022.

Important events after the end of the period

FDA expert panel in line with SciBase position to keep stringent approval level for all new skin lesion analyzers.

Financial overview

					July 1 2021 -
	Apr 1 - June 30		Jan 1 - June 30		June 30 2022	Jan 1 - Dec 31
THE GROUP	2022	2021	2022	2021	Rolling-12	2021
Net sales, SEK ths	3 726	2 258	7 987	4 821	14 893	11 727
Gross margin, %	70,6 %	56,3 %	66,4 %	54,4 %	62,2 %	56,1 %
Equity/Asset ratio, %	76,6 %	87,3 %	76,6 %	87,3 %	83,3 %	82,8 %
Net indebtness, multiple	0,30	0,15	0,30	0,15	0,20	0,21
Cash equivalents, SEK ths	44 577	88 192	44 577	88 192	44 577	65 607
Cashflow from operating activities, SEK ths	-9 643	-9 162	-20 155	-18 635	-41 021	-39 501
Earnings per share (before and after dilution), SEK	-0,13	-0,19	-0,28	-0,34	-0,61	-0,67
Shareholder's equity per share, SEK	0,72	1,59	0,72	1,65	1,05	1,13
Average number of shares, 000'	68 475	59 265	68 475	57 023	68 465	62 739
Number of shares at closing of period, 000'	68 475	68 236	68 475	68 236	68 475	68 475
Share price at end of period, SEK	3,41	5,52	3,41	5,52	3,41	5,52
Number of sold electrodes, pieces	9 550	5 968	19 580	13 464	35 908	29 792
Average number of employees	19	17	19	17	19	17

This information is information that SciBase Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08.00 CET on August 18, 2022.

This year-end report has not been subject to review by the Company's auditors

Contact person:

Michael Colérus, CFO, +46 70 341 34 72

For more information, please contact:
Simon Grant, CEO SciBase
Tel: +46 72 887 43 99
Email: simon.grant@scibase.com

Certified Advisor (CA):.

Vator Securities

Tel: +46 8 580 065 99

Email: ca@vatorsec.se

About SciBase and Nevisense
SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com.