Interim report

January 1 – September 30, 2019

The third quarter in figures

  • Net sales amounted to TSEK 1,940 (1,359).
  • The loss after tax amounted to TSEK 9,868 (12,754).
  • The loss per share amounted to SEK 0.59 (0.77).
  • The cash flow from current operations was negative in the amount of TSEK 10,264 (7,692).
  • The gross margin reached 53.4% (52.6%).
  • Electrode sales volume increased by 54% and reached 4,752 (3,088) units. Repeat sales of electrodes to existing customers increased by 63%.

The first 9-months in figures

  • Net sales amounted to TSEK 6,476 (4,869).
  • The loss after tax amounted to TSEK 29,387 (32,709).
  • The loss per share amounted to SEK 1,77 (1.97).
  • The cash flow from current operations was negative in the amount of TSEK 29,114 (27,492).
  • The gross margin increased to 53.1% (51.9%).
  • Electrode sales volume increased by 43% and reached 16,544 (11,606) units. Repeat sales of electrodes to existing customers increased by 53%.

Important events during the quarter

  • Sales in the company’s key market Germany continue to grow and increased by 36% in the quarter following a further improvement in electrode sales. Total sales increased by 43%
  • In the period the first sale and shipment of SciBase products for the evaluation of skin barrier function was made. The first shipment is to a prestigious hospital in Japan for research into skin barrier function in infants.
  • 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.

Important events after the end of the     period

  • SciBase receives the first multi system order from a large US dermatology practice group. Advanced Dermatology, P.C. is a group of over 40 dermatology practices in the New York tri-state area.
  • SciBase receives order from the dermatology clinic at the Mount Sinai hospital in New York.
  • A nominating committee has been appointed.
          Oct 1 2018 -  
  July 1 - Sep 30 Jan 1 - Sep 30 Sep 30 2019 Jan 1 - Dec 31
THE GROUP 2019 2018 2019 2018 Rolling-12 2018
Net sales, SEK ths 1 940 1 359 6 476 4 869 8 506 6 899
Gross margin, % 53,4% 52,6% 53,1% 51,9% 52,8% 52,0%
Equity/Asset ratio, % 73,4% 89,2% 73,4% 89,2% 83,2% 88,1%
Net indebtness, multiple 0,36 0,12 0,36 0,12 0,20 0,13
Cash equivalents, SEK ths 35 917 77 551 35 917 77 551 35 917 67 514
Cashflow from operating activities, SEK ths -10 264 -7 692 -29 114 -27 492 -39 104 -37 482
Earnings per share (before and after dilution), SEK -0,59 -0,77 -1,77 -1,97 -2,46 -2,66
Shareholder's equity per share, SEK 2,53 4,97 2,53 4,97 3,75 4,30
Average number of shares, 000' 16 618 16 618 16 618 16 618 16 618 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 5,25 4,52 5,25 4,52 5,25 3,10
Number of sold electrodes, pieces 4 752 3 088 16 544 11 606 20 416 15 478
Average number of employees 18 19 18 20 18 19

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 13, 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 and a global leader in breakthrough point-of-care technology for the evaluation of skin disorders such as skin cancer and atopic dermatitis.  Their flagship product Nevisense assists physicians in the detection of melanoma at its earliest, most curable stage.  Melanoma is the deadliest form of skin cancer and has an almost 100% cure rate if caught early. Further development has led to Nevisense also being used as a tool to assess the skin barrier and inflammation in research. 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 is FDA Approved in the United States. 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 First North Growth Market (“SCIB”). Further information is available at www.scibase.com.

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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