Year-end report
January 1 – December 31, 2019
The fourth quarter in figures
- Net sales amounted to TSEK 2,800 (2,030).
- The loss after tax amounted to TSEK 10,207 (11,506).
- The loss per share amounted to SEK 0.61 (0.69).
- The cash flow from current operations was negative in the amount of TSEK 8,842 (9,990).
- The gross margin reached 58.0% (52.1%).
- Electrode sales volume increased by 85% and reached 7,180 (3,872) units. Repeat sales of electrodes to existing customers increased by 97%.
Full year 2019 in figures
- Net sales amounted to TSEK 9,276 (6,899).
- The loss after tax amounted to TSEK 39,594 (44,215).
- The loss per share amounted to SEK 2,38 (2.66).
- The cash flow from current operations was negative in the amount of TSEK 37,956 (37,482).
- The gross margin increased to 54.5% (52.0%).
- Electrode sales volume increased by 53% and reached 23,724 (15,478) units. Repeat sales of electrodes to existing customers increased by 64%.
Important events during the quarter
- Sales in the company’s key market Germany continue to grow and increased by 24% in the quarter following a further improvement in electrode sales. Total sales increased by 38%
- SciBase received the first multi system (6) 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 received an order from the new dermatology clinic at the Mount Sinai hospital in New York, one of the most prestigious dermatology centers in the US.
- Thomas Eklund resigned from SciBase and other Board positions due to lack of time.
Important events after the end of the period
- No significant events have occurred since the end of the period.
| Oct 1 - Dec 31 | Jan 1 - Dec 31 | |||
| THE GROUP | 2019 | 2018 | 2019 | 2018 |
| Net sales, SEK ths | 2 800 | 2 030 | 9 276 | 6 899 |
| Gross margin, % | 58,0% | 52,1% | 54,5% | 52,0% |
| Equity/Asset ratio, % | 69,4% | 88,1% | 69,4% | 88,1% |
| Net indebtness, multiple | 0,44 | 0,13 | 0,44 | 0,13 |
| Cash equivalents, SEK ths | 26 456 | 67 514 | 26 456 | 67 514 |
| Cashflow from operating activities, SEK ths | -8 842 | -9 990 | -37 956 | -37 482 |
| Earnings per share (before and after dilution), SEK | -0,61 | -0,69 | -2,38 | -2,66 |
| Shareholder's equity per share, SEK | 1,93 | 4,30 | 1,93 | 4,30 |
| Average number of shares, 000' | 16 618 | 16 618 | 16 618 | 16 618 |
| Number of shares at closing of period, 000' | 16 618 | 16 618 | 16 618 | 16 618 |
| Share price at end of period, SEK | 4,36 | 3,10 | 4,36 | 3,10 |
| Number of sold electrodes, pieces | 7 180 | 3 872 | 23 724 | 15 478 |
| Average number of employees | 18 | 19 | 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 February 21, 2020.
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. Further development has led to Nevisense also being used as a tool to assess the skin barrier and inflammation. 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 an FDA approval (PMA) 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.