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Interim report

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January 1 – June 30, 2024

The second quarter in figures

  • Net sales were TSEK 6,641 (5,085), +31%.
  • The loss after tax was TSEK 15,050 (11,352).
  • The loss per share was SEK 0.08 (0.16).
  • The cash flow from current operations was negative in the amount of TSEK 15,179 (13,054).
  • The gross margin was 69.1% (65.3%).
  • Electrode sales volume increased by 24% and was 14,106 (11,330) units. Repeat sales of electrodes to existing customers increased by 22%.

January - June in figures

  • Net sales were TSEK 12,699 (10,234), +24%.
  • The loss after tax was TSEK 25,911 (22,258).
  • The loss per share was SEK 0.19 (0.31).
  • The cash flow from current operations was negative in the amount of TSEK 28,360 (16,805).
  • The gross margin was 69.5% (67.0%).
  • Electrode sales volume increased by 21% and was 27,868 (22,944) units. Repeat sales of electrodes to existing customers increased by 23%.

Important events during the quarter

  • Overall sales increased by 31% (+30, before currency effects). Sales in Germany within the skin cancer segment increased by 12% (11% in local currency).  Sales in the US skin cancer market increased by 468% while the sales within the skin barrier segment increased by 7%.
  • SciBase resolved on a directed issued of approximately SEK 33 million and a rights issue of approximately SEK 15 million and postponed the Annual General Meeting and publication of the interim report for the first quarter of 2024.
  • SciBase published a prospectus and the summons to an EGM and the AGM.
  • SciBase announced a new partnership with Al Shirawi Healthcare solutions for the distribution of Nevisense in the UAE.
  • SciBase published the outcomes in the directed issue, were MSEK 33 were subscribed for and in the rights offering were MSEK were subscribed for corresponding to a subscription rate of 61%.
  • New German study shows Nevisense significantly improves dermatologists’ clinical decisions.
  • SciBase launched the eBarrier Score, the First AI-Driven Skin Barrier Assessment tool for research and Cosmetic Testing.
  • SciBase received the first order in Austria.
  • US organization strengthened with experienced leader in dermatology. 
  • Partnership established with a large health care group in Los Angeles, Unified Health, and SciBase receives a first order.
  • The AGM was held on June 13th, new chairman of the Board appointed.

Important events after the end of the     period

  • No events of significant nature have occurred after the end of the period.

Financial overview   

July 1, 2023 - 
Apr 1 - June 30 Jan 1 - June 30 June 30, 2024 Jan 1 - Dec 31
THE GROUP 2024 2023 2024 2023 Rolling-12 2023
Net sales, SEK ths 6 641 5 085 12 699 10 234 25 710 23 245
Gross margin, % 69.1% 65.3% 69.5% 67.0% 70.0% 69.0%
Equity/Asset ratio, % 71.8% 73.7% 71.8% 73.7% 72.9% 66.9%
Net indebtness, multiple 0.39 0.36 0.39 0.36 0.37 0.49
Cash equivalents, SEK ths 43 271 70 874 43 271 70 874 43 271 34 121
Cashflow from operating activities, SEK ths -15 179 -13 054 -28 360 -16 805 -63 539 -51 984
Earnings per share (before and after dilution), SEK -0.08 -0.16 -0.19 -0.31 -0.46 -0.51
Shareholder's equity per share, SEK 0.28 0.60 0.39 0.75 0.49 0.40
Average number of shares, 000' 186 303 119 831 136 449 96 129 128 140 107 980
Number of shares at closing of period, 000'* 219 538 119 831 219 538 119 831 219 538 119 831
Share price at end of period, SEK 0.51 1.19 0.51 1.19 0.51 0.83
Number of sold electrodes, pieces 14 016 11 330 27 868 22 944 56 844 51 920
Average number of employees 27 22 27 21 26 23

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 21, 2024.

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

Contact person:

Michael Colérus, CFO, +46 70 341 34 72

For more information, please contact: Pia Renaudin, CEO SciBase Tel: +46 73 206 98 02 Email: pia.renaudin@scibase.com

Certified Advisor (CA):

Vator Securities

Tel: +46 8 580 065 99

Email: ca@vatorsec.se

About SciBase
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.

Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.

Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.

The company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press releases and financial reports can be found here: http://investors.scibase.se/en/pressreleases

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SciBase Interim Report Q2 2024

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