Biovica International (BIOVIC) investor relations material

Executive summary

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

• Expanded clinical use of Divitum/DiviTum TKa into early breast cancer, supported by new data, a laboratory-developed test launch, and a major partnership with Tempus to leverage their network of 6,500+ oncologists.

• Signed significant commercial agreements, including with Tempus AI and several new Tier 1 master service agreements in Pharma Services, increasing the project pipeline.

• Successfully completed a rights issue and directed share issue, raising SEK122 million, exceeding the initial target by over 50%.

• Launched DiviTum TKa for early breast cancer, potentially expanding the addressable market fivefold to USD 3 billion annually.

Financial highlights

• Q1 net sales rose 51% to SEK2,596 thousand, with U.S. IVD sales up 72% and Pharma Services up 40% year-over-year.

• U.S. business overall up 90% vs. Q1 last year and 27% sequentially from Q4; research segment grew 40% in SEK and 60% in USD.

• Operating loss improved to SEK-19,334 thousand (from SEK-23,562 thousand), driven by higher sales and reduced expenses post-restructuring.

• Cash and cash equivalents at period end were SEK16,305 thousand, with an additional SEK122 million raised post-period.

• Net operating cash flow improved by SEK12 million year-over-year, reflecting higher sales and lower operating expenses.

Outlook and guidance

• Targeting further acceleration of organic growth beyond the current 30% quarterly rate, with financial targets of SEK8.5 million for FY24/25, SEK50 million for FY25/26, and SEK150 million for FY26/27.

• On track to reach SEK50 million in fiscal year revenue, supported by new service agreements and expected kit sales.

• Company expects to become cash flow positive in Q3 of FY26/27, with current funding sufficient for at least 12 months.

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

• Revenue distribution for FY25/26 and 26/27 expected to be 65% U.S., 30% Pharma Services, 5% Europe.