Devyser Diagnostics AB publishes quarterly report for July to September 2023

“Devyser is reporting record sales growth (+50% organic growth) for the third quarter, a further improvement in EBIT and continued high gross margins. Devyser’s transplant products were given IVDR approvals during the quarter and Thermo Fisher Scientific, our commercial partner in the transplant field, began the launching of the transplant products in North America and Europe.”

Fredrik Alpsten, CEO, Devyser

The quarter from July to September 2023

• Net sales amounted to SEK 46.7 million (31.2), corresponding to a 49.8 percent increase. Adjusted for exchange rate fluctuations, net sales increased by 37.7 percent.
• Gross profit totaled SEK 39.6 million (26.3), equal to a gross margin of 85.0 percent (84.4).
• Operating profit (EBIT) amounted to SEK -7.8 million (-8.2).
• Profit after tax totaled SEK -6.0 million (-8.8).
• Earnings per share before and after dilution amounted to SEK -0.37 (-0.55).
• Cash flow from operating activities stood at SEK -13.9 million (-11.8).

The period from January to September 2023

• Net sales amounted to SEK 123.9 million (92.4), corresponding to a 34.1 percent increase. Adjusted for exchange rate fluctuations, net sales increased by 24.0 percent.
• Gross profit totaled SEK 104.8 million (76.2), corresponding to a gross margin of 84.6 percent (82.5).
• Operating profit (EBIT) amounted to SEK -40.4 million (-26.0).
• Profit after tax totaled SEK -40.5 million (-29.3).
• Earnings per share before and after dilution amounted to SEK -2.51 (-1.84).
• Cash flow from operating activities stood at SEK -56.0 million (-27.1).

Important events during the quarter

IVDR approvals of Devyser’s transplant products

Devyser’s test for the detection of donor-derived cell-free DNA in blood samples from kidney transplant patients, and the company’s product for the follow-up of stem cell transplant patients, were given IVDR approvals in July.

Expanded collaboration with Thermo Fisher Scientific

Devyser and Thermo Fisher Scientific agreed to expand their collaboration by including Brazil in the collaboration and distribution agreement for Devyser’s transplant products. In addition to North America and Europe, Thermo Fisher will now also exclusively market and sell Devyser’s transplant products under combined brands in Brazil.

Devyser and Thermo Fisher Scientific team up to market laboratory services

Devyser and Thermo Fisher Scientific have signed a collaboration agreement for the marketing of laboratory services. The goal is to attract and be able to offer pharmaceutical companies the opportunity to analyze their samples using Devyser’s technology at the CLIA-certified laboratory.

Important events after the end of the quarter

No significant events have occurred since the end of the quarter.

Presentation

The report will be presented at an audiocast at 09:00 CET today. Dial-in number to the teleconference and a conference ID will be received by registering on the link below:

https://conference.financialhearings.com/teleconference/?id=5003819

The presentation will also be webcast and can be accessed from the following web address: 

https://ir.financialhearings.com/devyser-diagnostics-q3-report-2023

This report and previous financial reports are available on the company’s webpage https://investors.devyser.com/en/reports-presentations.   

This information is information that Devyser Diagnostics AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons below, on November 9, 2023, at 07:30 CET.

For more information, please contact:

Fredrik Alpsten, CEO
E-mail: fredrik.alpsten@devyser.com
Tel: +46 706 673 106

Sabina Berlin, CFO
E-mail: sabina.berlin@devyser.com
Tel: +46 739 519 502

About Devyser Diagnostics AB (publ)

Devyser develops, manufactures and sells diagnostic solutions and analysis services to clinical laboratories in more than 50 countries. Our products are used for complex genetic testing in the hereditary disease, oncology and transplant fields, to enable targeted cancer treatment, the diagnosis of a large number of genetic diseases, and transplant patient follow-up. Devyser’s products, and unique, patented solution requiring only one test tube, simplify genetic testing processes, improve sample throughput, minimize hands-on time and deliver rapid results. Our goal is for every patient to receive a correct diagnosis in the shortest possible time. Sustainability is a central part of our business and an important prerequisite for long term value creation.

Devyser was founded in 2004 and is based in Stockholm, Sweden with eight in-house sales offices in Europe and the US. The company also runs Devyser Genomic Laboratories, a CLIA certified laboratory in Atlanta, US. In 2022, Devyser's quality management system was certified according to the IVDR and a number of the company’s products have since been certified according to the IVDR.

Devyser’s shares are listed on the Nasdaq First North Premier Growth Market Stockholm (ticker: DVYSR). The company’s Certified Adviser is Redeye AB.

For more information, visit www.devyser.com.