Interim Report for the second quarter (2018-05-01 – 2018-10-31)

August – October 2018

Net sales                                                                                                            539 (179) KSEK

Operating result before depreciation (EBITDA)                                   -4 593 (-2 079) KSEK

Net result                                                                                                          -6 035 (-3 359) KSEK

Earnings per share                                                                                         -0.45 (-0.29) SEK

May – October 2018 (Year to date)

Net sales                                                                                                            1 395 (839) KSEK

Operating result before depreciation (EBITDA)                                   -7 727 (-4 012) KSEK

Net result                                                                                                          -10 553 (-6 574) KSEK

Earnings per share                                                                                         -0.84 (-0.57) SEK

In short

  • Net sales for the second quarter increased by 201 % to 539 (179) KSEK, and for year to date net sales increased by 67 % to 1 395 (839) KSEK.
  • Second quarter gross margin amounted to 68 (61) %.
  • For the first time, sales during the past 12 months reached 5 MSEK.
  • The growing sales and marketing department has been strengthened by two application specialists and an area sales manager.
  • PHI’s first distributor meeting was held in Dubai together with over 20 distributor representatives.
  • Development of the HoloMonitor App Suite 2.0 software is on track and scheduled for a spring market launch.
  • The company recently partnered with Immunotechnology at Lund University, to develop novel methods for culturing and studying living microtumors non-invasively.

CEO Commentary

For the first time, sales during the past 12 months reached 5 MSEK. Since our previous report, much effort has gone into implementing the ambitious market expansion made possible by the capital acquisition this summer. The growing sales and marketing department was recently strengthened by two application specialists and an area sales manager. In November we held our first distributor meeting. In total over 20 distributor represen­tatives made their way to Dubai to share experiences and learn more about HoloMonitor. The meeting was a great success and without reservation reaffirmed our shared view — Holo­Monitor’s substantial market potential. Moreover, the technical department has been expanded with an additional engineer. This in order to maintain a high level of service while continuing to develop new software and accessories for the HoloMonitor product line.

Read more about the distributor meeting here

The next version of our new software, HoloMonitor App Suite 2.0, is on track and scheduled for a spring market launch. Besides additional software application, App Suite 2.0 will support Software as a Service (SaaS), allowing us to offer customers to license additional applications and assays through our website.

As communicated last week, we recently entered into a partnership with the department of immunotechnology at Lund University. Based on HoloMonitor technology, the partnership aims to develop novel methods for culturing and studying living 3-dimensional microtumors non-invasively. Microtumors are particularly interesting to cancer researchers as they are the source of metastatic cancer and often resistant to chemo­therapy, which is the reason why metastatic cancer is difficult to treat, today. Various market reports value the rapidly growing global 3D cell culture market to 600 – 1 400 million USD annually, with an expected annual growth rate (CAGR) of 15 – 35 %.

Read the press release here

Peter Egelberg, CEO

För ytterligare information, vänligen kontakta:
Peter Egelberg, VD

Tel: +46 703 19 42 74
E-mail: ir@phiab.se
Web: www.phiab.se

Phase Holographic Imaging (PHI) leads the ground-breaking development of time-lapse cytometry instrumentation and software. With the first instrument introduced in 2011, the company today offers a range of products for long-term quantitative analysis of living cell dynamics that circumvent the drawbacks of traditional methods requiring toxic stains. Headquartered in Lund, Sweden, PHI trades through a network of international distributors. Committed to promoting the science and practice of time-lapse cytometry, PHI is actively expanding its customer base and scientific collaborations in cancer research, inflammatory and autoimmune diseases, stem cell biology, gene therapy, regenerative medicine and toxicological studies.

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