SciBase: Interim report

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SciBase

11 Nov, 2021, 07:37 GMT

STOCKHOLM, Nov. 11, 2021 /PRNewswire/ -- January 1 - September 30, 2021

The third quarter in figures

Net sales amounted to TSEK 2,982 (2,287).
The loss after tax amounted to TSEK 8,622 (7,350).
The loss per share amounted to SEK 0.13 (0.20).
The cash flow from current operations was negative in the amount of TSEK 9,156 (6,974).
The gross margin reached 63.3% (52.7%).
Electrode sales volume increased by 20% and reached 8,304 (6,924) units. Repeat sales of electrodes to existing customers increased by 4%.

January - September in figures

Net sales amounted to TSEK 7,802 (6,466).
The loss after tax amounted to TSEK 27,926 (25,150).
The loss per share amounted to SEK 0.46 (0.99).
The cash flow from current operations was negative in the amount of TSEK 27,792 (23,571).
The gross margin reached 57.8% (54.0%).
Electrode sales volume increased by 20% and reached 21,768 (18,194) units. Repeat sales of electrodes to existing customers increased by 14%.

Important events during the quarter

Overall sales increased by 30% (+36%, before currency effects).Covid-19 continues to affect sales and the market situation remains difficult to predict going forward, due to ongoing lockdowns and reduced marketing activities. Sales in the company's key market Germany increased by 9% (+11% in local currency).
SciBase has entered into an agreement with Vator Securities AB ("Vator Securities") regarding the service as a Certified Adviser. Vator Securities took over as Certified Adviser on September 28, 2021. Until Vator Securities took over, Avanza Bank AB continued to act as Certified Adviser for the Company.
At an extraordinary general meeting held on September 7, 2021, Jvalini Dwarkasing was elected as a new member of the Board. The Board has therefore the following composition: Tord Lendau (chairman), Diana Ferro, Thomas Taapken, Matt Leavitt and Jvalini Dwarkasing.

Important events after the end of the period

A nominating committee was appointed.

Financial overview


	July 1 - Sep 30		Jan 1 - Sep 30		Oct 1 2020 -Sep 30 2021	Jan 1 - Dec 31
THE GROUP	2021	2020	2021	2020	Rolling-12	2020
Net sales, SEK ths	2 982	2 287	7 802	6 466	10 857	9 521
Gross margin, %	63,3%	52,7%	57,8%	54,0%	55,4%	52,5%
Equity/Asset ratio, %	86,8%	67,0%	86,8%	67,0%	81,2%	79,1%
Net indebtness, multiple	0,15	0,49	0,15	0,49	0,23	0,26
Cash equivalents, SEK ths	78 270	21 724	78 270	21 724	78 270	41 427
Cashflow from operating activities, SEK ths	-9 156	-6 974	-27 792	-23 571	-38 081	-33 861
Earnings per share (before and after dilution), SEK	-0,13	-0,20	-0,46	-0,99	-0,65	-1,12
Shareholder's equity per share, SEK	1,24	0,71	1,40	1,02	0,96	1,50
Average number of shares, 000'	68 475	36 560	60 827	25 481	57 797	31 287
Number of shares at closing of period, 000'	68 475	36 560	68 475	36 560	68 475	54 780
Share price at end of period, SEK	4,88	4,00	4,88	4,00	4,88	4,62
Number of sold electrodes, pieces	8 304	6 924	21 768	18 194	29 260	25 686
Average number of employees	17	16	17	16	17	16

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 November 11, 2021.

Contact person: Michael Colérus, CFO. +46 70 341 34 72

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

Certified Advisor:
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.