Biovica International (BIOVIC) investor relations material

Executive summary

• Achieved 30% organic growth for the second consecutive quarter and nine straight quarters of US market growth, with over 90% year-over-year increase in local currency.

• Expanded clinical use and commercial reach of Divitum/DiviTum TKa into early breast cancer, supported by new data, a laboratory-developed test launch, and Tempus partnership.

• Signed significant commercial agreements, including with Tempus AI and new Tier 1 pharma customers, increasing contracted volume and project size.

• Pharma Services business revitalized, signing several new master service agreements and increasing the project pipeline to SEK 27 million over 36 months.

• Successfully completed a rights issue, raising SEK 122 million, exceeding the initial target and supporting future growth and cash-flow positive targets.

Financial highlights

• Q1 sales increased 51% year-over-year (about 70% ex Fx), with US IVD test sales up 72% and Pharma Services up 40% year-over-year.

• US IVD sales grew 91% year-over-year and 27% sequentially from Q4.

• Operating cash flow improved by SEK 12 million year-over-year, with net operating loss reduced to SEK -19,334 thousand.

• Cash position at end of Q1 was SEK 16.3 million, with an additional SEK 122 million raised post-period.

• Gross margin exceeds 85%, supported by favorable price levels and low production costs.

Outlook and guidance

• Targeting further acceleration of organic growth beyond the current 30% quarterly rate, with a long-term goal to achieve cash flow positivity by Q3 FY 26/27.

• On track to reach SEK 50 million in fiscal year revenue and FY pharma services sales target of 15 MSEK.

• Revenue distribution for FY 25/26 and 26/27 expected to be 65% US, 30% Pharma Services, 5% Europe.

• Expecting initial sales support from Tempus AI partnership in Q3 or Q4, with implementation delays expected to be months, not years.

• Current funding sufficient for at least 12 months.