Interim report: SciBase

STOCKHOLM, Aug. 18, 2023 /PRNewswire/ --

January 1 - June 30, 2023

The second quarter in figures

• Net sales were TSEK 5,085 (3,726), +36%.
• The loss after tax was TSEK 11,352 (9,212).
• The loss per share was SEK 0.16 (0.13).
• The cash flow from current operations was negative in the amount of TSEK 13,054 (9,643).
• The gross margin was 65.3% (70.6%).
• Electrode sales volume increased by 19% and was 11,330 (9,550) units. Repeat sales of electrodes to existing customers increased by 23%.

The half year in figures

• Net sales were TSEK 10,234 (7,987), +28%.
• The loss after tax was TSEK 22,258 (18,948).
• The loss per share was SEK 0.31 (0.28).
• The cash flow from current operations was negative in the amount of TSEK 16,805 (20,155).
• The gross margin was 67.0% (66.4%).
• Electrode sales volume increased by 17% and was 22,944 (19,580) units. Repeat sales of electrodes to existing customers increased by 1%.

Important events during the quarter

• Overall sales increased by 36% (+24, before currency effects). Sales in Germany increased by 62% (48% in local currency).  Sales in the US skin cancer market were 74% lower than Q2 2022. Sales within the skin barrier segment decreased by 18%.
• Two Medicare Administrative Contractors (MACs): First Coast Service Options (First Coast) and Novitas Solutions (Novitas) released updated fee schedules for SciBase's early detection test for melanoma. First Coast covers the state of Florida and Novitas covers the central and mid-Atlantic US and together they cover about one-third of the US Medicare population. The fee schedules have been increased to levels seen as more appropriate by clinicians.
• The current CEO Simon Grant announced he will leave his position as CEO for personal reasons.
• The AGM 2023 was held on May 17^th.
• The annual report for 2022 was published.

Important events after the end of the  period

• No events of significant nature have occurred after the end of the period.

Financial overview

This information is information that SciBase Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was originally submitted for publication, through the agency of the contact person set out below, at 08.00 CET on August 18, 2023.

This interim report 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: [email protected]

Certified Advisor (CA):.
Vator Securities
Tel: +46 8 580 065 99
Email: [email protected]

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.  All press-releases and financial reports can be found here : http://investors.scibase.se/en/pressreleases

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