Interim report
January 1 – March 31, 2022
The first quarter in figures
- Net sales amounted to TSEK 4,260 (2,562).
- The loss after tax amounted to TSEK 9,736 (8,153).
- The loss per share amounted to SEK 0.14 (0.15).
- The cash flow from current operations was negative in the amount of TSEK 10,512 (9,473).
- The gross margin reached 62.8% (52.7%).
- Electrode sales volume increased by 33% and reached 9,982 (7,496) units. Repeat sales of electrodes to existing customers increased by 34%.
Important events during the quarter
- Overall sales increased by 66% (+58%, before currency effects). The sales in the important US market increased within the area of skin cancer by 541% (in local currency by 475%). Sales in Germany increased by 54% (49% in local currency).
- SciBase Barrier technology part of major immunodermatology project - Next Generation Immunodermatology. The NGID consortium is based in the Netherlands and will run over 6 years, leveraging the expertise from several different groups across academic, clinical, and industrial research settings.
- A new study from the US supporting the use of Nevisense in diagnosing melanoma was published in "SKIN – The journal of cutaneous medicine". The study shows that Nevisense provides valuable diagnostic guidance when evaluating atypical pigmented skin lesions.
- SciBase further strengthened the patent portfolio as patent application: EP Application No. 18729063.0 was granted by EPO in Europe.
- SciBase announced a change in the Management team and a new head of Quality and Regulatory Affairs
Important events after the end of the period
- A new study performed in Germany and published online in the journal Dermato demonstrated the clinical benefits of Nevisense in day-to-day practice
Financial overview
| Apr 1 2021 - | ||||
| Jan 1 - Mar 31 | Mar 31 2022 | Jan 1 - Dec 31 | ||
| THE GROUP | 2022 | 2021 | Rolling-12 | 2021 |
| Net sales, SEK ths | 4 260 | 2 562 | 13 425 | 11 727 |
| Gross margin, % | 62,8% | 52,7% | 58,9% | 56,1% |
| Equity/Asset ratio, % | 79,3% | 79,6% | 79,4% | 82,8% |
| Net indebtness, multiple | 0,26 | 0,26 | 0,26 | 0,21 |
| Cash equivalents, SEK ths | 54 621 | 31 403 | 54 621 | 65 607 |
| Cashflow from operating activities, SEK ths | -10 512 | -9 473 | -40 540 | -39 501 |
| Earnings per share (before and after dilution), SEK | -0,14 | -0,15 | -0,66 | -0,67 |
| Shareholder's equity per share, SEK | 0,88 | 0,70 | 0,75 | 1,13 |
| Average number of shares, 000' | 68 475 | 54 780 | 66 183 | 62 739 |
| Number of shares at closing of period, 000' | 68 475 | 54 780 | 68 475 | 68 475 |
| Share price at end of period, SEK | 4,70 | 4,78 | 4,70 | 5,52 |
| Number of sold electrodes, pieces | 9 982 | 7 496 | 32 278 | 29 792 |
| Average number of employees | 18 | 18 | 18 | 17 |
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 May 12, 2022.
Contact person: Michael Colérus, CFO. +46 70 341 34 72
For more information, please contact:
Simon Grant, CEO SciBase
Tel: +46 72 887 43 99
Email: simon.grant@scibase.com
Certified Advisor (CA):
Vator Securities
Tel: +46 8 580 065 99
Email: ca@vatorsec.se
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.
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