Interim report

January 1 – June 30, 2019

The second quarter in figures

  • Net sales amounted to TSEK 2,168 (1,571).
  • The loss after tax amounted to TSEK 10,613 (10,298).
  • The loss per share amounted to SEK 0.64 (0.62).
  • The cash flow from current operations was negative in the amount of TSEK 9,900 (10,119).
  • The gross margin reached 53.3% (58.2%).
  • Electrode sales volume increased by 33% and reached 5,712 (4,304) units. Repeat sales of electrodes to existing customers increased by 41%.

The first half-year in figures

  •  Net sales amounted to TSEK 4,536 (3,510).
  •  The loss after tax amounted to TSEK 19,520 (19,955).
  •  The loss per share amounted to SEK 1,17 (1.20).
  •  The cash flow from current operations was negative in the amount of TSEK 18,850 (19,801).
  •  The gross margin increased to 52.9% (51.7%).
  •  Electrode sales volume increased by 38% and reached 11,792 (8,438) units. Repeat sales of electrodes to existing customers increased by 50%.

Important events during the quarter

  • Sales in the company’s key market Germany increased by 40% in the quarter following a further improvement in electrode sales. 
  • An application for the Nevisense 3.0 software was submitted to the US FDA. 
  • A new study was published that opened up the skin barrier assessment application for SciBase’s product Nevisense. The paper, entitled ‘Direct assessment of skin epithelial barrier by electrical impedance spectroscopy’, was published in the journal Allergy, European Journal of Allergy and Clinical Immunology. 
  • Three scientific presentations described the use of EIS for skin barrier assessment at the EAACI (European Academy of Allergy and Clinical Immunology) meeting in June. SciBase presented the skin barrier application for the first time at an allergy conference.
  • Nevisense was included in the first US and European investigator-initiated studies utilizing Nevisense for skin barrier assessment.
  • The AGM 2019 was held on May 16th. 

Important events after the end of the    period

  • New Nevisense software was released in the EU that included wireless integration with the Heine digital dermoscopy system, skin barrier analysis tools and further ease-of-use improvements.
July 1 2018 -
Apr 1 - June 30 Jan 1 - June 30 June 30 2019 Jan 1 - Dec 31
THE GROUP 2019 2018 2019 2018 Rolling-12 2018
Net sales, SEK ths 2 168 1 571 4 536 3 510 7 925 6 899
Gross margin, % 53,3% 58,2% 52,9% 51,7% 52,7% 52,0%
Equity/Asset ratio, % 74,5% 92,0% 74,5% 92,0% 85,0% 88,1%
Net indebtness, multiple 0,34 0,09 0,34 0,09 0,18 0,13
Cash equivalents, SEK ths 46 772 85 231 46 772 85 231 46 772 67 514
Cashflow from operating activities, SEK ths -9 900 -10 119 -18 850 -19 801 -36 532 -37 482
Earnings per share (before and after dilution), SEK -0,64 -0,62 -1,17 -1,20 -2,63 -2,66
Shareholder's equity per share, SEK 3,10 5,76 3,10 5,76 6,96 4,30
Average number of shares, 000' 16 618 16 618 16 618 16 618 10 576 16 618
Number of shares at closing of period, 000' 16 618 16 618 16 618 16 618 16 618 16 618
Share price at end of period, SEK 4,34 6,45 4,34 6,45 4,34 3,10
Number of sold electrodes, pieces 5 712 4 304 11 792 8 438 15 920 12 566
Average number of employees 18 20 18 20 19 19

This interim report has not been subject to review by the Company’s auditors.

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 August 22, 2019.

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: 
Avanza AB 
Phone: +46 8 409 421 20 
Email: corp@avanza.se

About SciBase and Nevisense

SciBase AB is a Swedish medical technology company, headquartered in Stockholm that has developed and sells a unique point-of-care device for evaluation of skin disorders such as skin cancer and atopic dermatitis. Its first product, Nevisense, helps doctors to detect malignant melanoma, the most dangerous type of skin cancer. SciBase was founded by Stig Ollmar, Associate Professor at The Karolinska Institute in Stockholm, Sweden. Nevisense is based on substantial research and has achieved excellent results in the largest clinical study ever conducted on the detection of malignant melanoma. Nevisense is CE marked in Europe, has TGA approval in Australia and a US FDA-approval (PMA). Nevisense is based on a method called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies and abnormalities. SciBase is listed on Nasdaq First North (“SCIB”). Further information is available at www.scibase.com.

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About Us

SciBase is a Swedish medical technology company founded in 1998 that has developed Nevisense, a point-of-care device for the accurate detection of malignant melanoma. Nevisense has emerged from more than 20 years of research at Karolinska Institute in Stockholm and at SciBase. The device is designed to be provide additional information when evaluating lesions with a suspicion of melanoma. Nevisense is based on a technology called Electrical Impedance Spectroscopy (EIS), which uses the varying electrical properties of human tissue to categorize cellular structures and thereby detect malignancies. The CE-marked system consists of an electrode on a hand-held probe connected to a small portable device performing the analysis and displaying the result. A video describing the Nevisense method is available on: www.scibase.se/en/the-nevisenseproduct and further information is also available on www.scibase.com.

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