SciBase: Interim report

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SciBase

Nov 10, 2023, 02:25 ET

January 1 - September 30, 2023

STOCKHOLM, Nov. 10, 2023 /PRNewswire/ --

The third quarter in figures:

Net sales were TSEK 7,248 (4,941), +47%.

The loss after tax was TSEK 12,786 (8,765).

The loss per share was SEK 0.11 (0.13).

The cash flow from current operations was negative in the amount of TSEK 17,827 (9,718).

The gross margin was 68.2% (58.4%).

Electrode sales volume increased by 60% and was 16,922 (10,592) units. Repeat sales of electrodes to existing customers increased by 66%.

January - September in figures

Net sales were TSEK 17,481 (12,927), +35%.

The loss after tax was TSEK 35,044 (27,713).

The loss per share was SEK 0.34 (0.40).

The cash flow from current operations was negative in the amount of TSEK 34,633 (29,783).

The gross margin was 67.5% (63.3%).

Electrode sales volume increased by 32% and was 39,866 (30,172) units. Repeat sales of electrodes to existing customers increased by 33%.

Important events during the quarter

Overall sales increased by 47% (+33, before currency effects). Sales in Germany increased by 65% (49% in local currency). Sales in the US skin cancer market was 31% lower than Q3 2022. Sales within the skin barrier segment increased by 42%.

SciBase appointed Pia Renaudin as new Chief Executive Officer.

SciBase signed new collaboration agreement with Bare Dermatology to advance skin cancer detection in Texas.

SciBase strengthens US team with experienced Dermatology executive.

A study was published in the journal Allergy showing that Nevisense detects skin barrier dysfunction in children with Atopic Dermatitis. The study was performed together with the University Children's Hospital Zürich.

The results from a collaborative scientific project with the Swiss Institute of Allergy and Asthma Research (SIAF) in Davos, Switzerland was published in the journal Allergy. The study is the first to use Nevisense to measure skin barrier function in human excised skin samples, demonstrating Nevisense as an effective laboratory research device.

Important events after the end of the period

A nominating committee for the Annual General Meeting in 2024 was appointed.

Financial overview

					Oct 1, 2022 -
	July 1 - Sep 30		Jan 1 - Sep 30		Sep 30, 2023	Jan 1 - Dec 31
THE GROUP	2023	2022	2023	2022	Rolling-12	2022
Net sales, SEK ths	7 248	4 941	17 481	12 927	22 444	17 890
Gross margin, %	68,2 %	58,4 %	67,5 %	63,3 %	66,1 %	62,8 %
Equity/Asset ratio, %	72,4 %	72,5 %	72,4 %	72,5 %	72,4 %	50,6 %
Net indebtness, multiple	0,38	0,38	0,38	0,38	0,38	0,98
Cash equivalents, SEK ths	52 353	34 014	52 353	34 014	52 353	18 832
Cashflow from operating activities, SEK ths	-17 827	-9 718	-34 633	-29 873	-49 225	-44 466
Earnings per share (before and after dilution), SEK	-0,11	-0,13	-0,34	-0,40	-0,53	-0,63
Shareholder's equity per share, SEK	0,50	0,57	0,58	0,57	0,52	0,37
Average number of shares, 000'	119 831	68 475	104 029	68 475	95 141	68 475
Number of shares at closing of period, 000'*	119 831	68 475	119 831	68 475	119 831	68 475
Share price at end of period, SEK	1,24	3,70	1,24	3,70	1,24	3,82
Number of sold electrodes, pieces	16 922	10 592	39 866	30 172	51 406	41 712
Average number of employees	23	20	22	19	21	20

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 10, 2023.

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

Contact person:

Michael Colérus, CFO, +46 70 341 34 72

For more information, please contact:
Pia Renaudin, CEO SciBase
Tel: +46 73 206 98 02
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

The following files are available for download:

https://mb.cision.com/Main/12371/3873021/2420869.pdf

Interim report Q3 - final clean