SciBase: Interim report January 1 - September 30, 2024

STOCKHOLM, Nov. 12, 2024 /PRNewswire/ --  January 1 - September 30, 2024

The third quarter in figures

• Net sales were TSEK 8,408 (7,248), +16%.

• The loss after tax was TSEK 17,753 (12,786).

• The loss per share was SEK 0.08 (0.11).

• The cash flow from current operations was negative in the amount of TSEK 16,745 (17,827).

• The gross margin was 75.7% (68.2%).

• Electrode sales volume increased by 2% and was 17,210 (16,922) units. Repeat sales of electrodes to existing customers decreased by 7% as Q3-23 included large electrode orders prior to a price increase.

January - September in figures

• Net sales were TSEK 21,107 (17,481), +21%.

• The loss after tax was TSEK 43,663 (35,044).

• The loss per share was SEK 0.27 (0.34).

• The cash flow from current operations was negative in the amount of TSEK 44,835 (34,633).

• The gross margin was 72.0% (67.5%).

• Electrode sales volume increased by 13% and was 45,078 (39,866) units. Repeat sales of electrodes to existing customers increased by 10%.

Important events during the quarter

• Overall sales increased by 16% (+17, before currency effects). Sales in Germany within the skin cancer segment decreased by 8% (6% in local currency) following some customers building up inventory in Q3-23.  Sales in the US skin cancer market increased by 187% while the sales within the skin barrier segment increased by 102%.

• In the US a Consensus report by leading US clinicians assessing technologies for melanoma detection and management was published. The report concluded that the Nevisense AI-driven technology can significantly enhance early melanoma detection.

• The National Institutes of Health (NIH), one of the world's foremost medical research centers and a part of the U.S. Department of Health and Human Services, purchased Nevisense for research on the skin barrier. This sale represents a major milestone for SciBase and demonstrates the high quality and innovative nature of Nevisense for research in this area.

• SciBase continued to expand in the US with new customers in new regions.

• SciBase announced the change of Certified Adviser from Vator Securities to Carnegie Investment Bank AB (publ).

Important events after the end of the  period

• A Nomination Committee has been appointed for SciBase Holding's Annual General Meeting in 2025.

• SciBase initiates sales collaboration in Italy.

• SciBase decides on a directed issue of approximately SEK 22.5 million and a rights issue of up to approximately SEK 59.3 million.

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 12, 2024.

This report has been comprehensively reviewed by the Company's auditors.

For additional information, please contact:
Pia Renaudin, CEO, tel. +46732069802, e-mail: pia.renaudin@scibase.com

Certified Advisor (CA):

Carnegie Investment Bank AB (publ)
Phone: +46 (0)73 856 42 65
E-mail: certifiedadviser@carnegie.se

About SciBase
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to enhance diagnostic accuracy, ensuring proactive skin health management.

Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.

Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.

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