SciBase: Year-end report

News provided by

SciBase

23 Feb, 2022, 07:56 GMT

STOCKHOLM, Feb. 23, 2022 /PRNewswire/ -- January 1 - December 31, 2021

The fourth quarter in figures

Net sales amounted to TSEK 3,925 (3,055).
The loss after tax amounted to TSEK 13,852 (9,839).
The loss per share amounted to SEK 0.20 (0.20).
The cash flow from current operations was negative in the amount of TSEK 11,709 (10,290).
The gross margin reached 52.8% (49.4%).
Electrode sales volume increased by 7% and reached 8,024 (7,492) units. Repeat sales of electrodes to existing customers increased by 12%.

The full year in figures

Net sales amounted to TSEK 11,727 (9,521).
The loss after tax amounted to TSEK 41,778 (34,989).
The loss per share amounted to SEK 0.67 (1.12).
The cash flow from current operations was negative in the amount of TSEK 39,501 (33,861).
The gross margin reached 56.1% (52.5%).
Electrode sales volume increased by 16% and reached 29,792 (25,686) units. Repeat sales of electrodes to existing customers increased by 12%.

Important events during the quarter

Overall sales increased by 28% (+34%, 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. The sales in the important US market increased within the area of skin cancer by 395% (in local currency by 415%). Sales in Germany decreased by 18% (-14% in local currency).
A request for a Medicare payment assignment for the Nevisense procedure was submitted to National Government Services (NGS), the Medicare Administrative Contractor with carrier jurisdiction responsibility for New York and several other states.
SciBase received an order of ten additional Nevisense systems and electrodes valued at approximately KUSD 100 from Advanced Dermatology, P.C. (AdvDermPC) in New York City.
A nominating committee for the AGM 2022 was appointed.

Important events after the end of the period

A new study from the US supporting the use of Nevisense in diagnosing melanoma was published in "SKIN – The journal of cutaneous medicine". The study shows that Nevisense provides valuable diagnostic guidance when evaluating atypical pigmented skin lesions.
SciBase announced a change in the Management team and a new head of Quality and Regulatory Affairs.

Financial overview

	Oct 1 - Dec 31		Jan 1 - Dec 31
THE GROUP	2021	2020	2021	2020
Net sales, SEK ths	3 925	3 055	11 727	9 521
Gross margin, %	52,8%	49,4%	56,1%	52,5%
Equity/Asset ratio, %	82,8%	79,1%	82,8%	79,1%
Net indebtness, multiple	0,21	0,26	0,21	0,26
Cash equivalents, SEK ths	65 607	41 427	65 607	41 427
Cashflow from operating activities, SEK ths	-11 709	-10 290	-39 501	-33 861
Earnings per share (before and after dilution), SEK	-0,20	-0,20	-0,67	-1,12
Shareholder's equity per share, SEK	1,03	0,96	1,16	1,50
Average number of shares, 000'	68 475	48 707	60 827	31 287
Number of shares at closing of period, 000'	68 475	54 780	68 475	54 780
Share price at end of period, SEK	5,52	4,62	5,52	4,62
Number of sold electrodes, pieces	8 024	7 492	29 792	25 686
Average number of employees	18	17	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 February 23, 2022.

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.