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European Institute of Science (EURI) investor relations material

European Institute of Science Q3 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2024 earnings summary23 Oct, 2024

Executive summary

  • Acquired apotek365.se, an e-commerce platform for self-tests, marking a strategic shift to "Euris 2.0" with expanded product range and market reach in human and veterinary diagnostics.

  • Q3 2024 sales increased by 147% compared to the same quarter last year, driven by the new e-commerce business and expanded distribution channels.

  • Focus on launching new products and expanding into additional geographic markets, leveraging proprietary test development.

Financial highlights

  • Net sales for Jan–Sep 2024 were 784 tSEK, up from 454 tSEK year-over-year; Q3 sales were 277 tSEK, up from 112 tSEK.

  • Gross profit for Jan–Sep 2024 was 446 tSEK (278 tSEK prior year); gross margin was 57% (61%).

  • Net result for Jan–Sep 2024 was -1,907 tSEK, an improvement from -2,040 tSEK year-over-year; Q3 net result was -633 tSEK, up from -701 tSEK.

  • Earnings per share for Jan–Sep 2024 were -4.21 SEK, compared to -5.88 SEK prior year.

  • Cash and cash equivalents at period end were 354 tSEK, down from 2,196 tSEK last year.

Outlook and guidance

  • Anticipates continued sales growth and market expansion, with new product launches in both human and veterinary diagnostics.

  • Expects increased revenue, more proprietary products, and further geographic expansion.

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Frequently asked questions

European Institute of Science is a Swedish company engaged in biotechnology and diagnostics. It conducts research and development of diagnostic instruments and biochemical reagents used in clinical laboratories. The company also provides consultancy services related to biomedical technology and analytical systems. The company is headquartered in Lund, Sweden, and its shares are listed on the NGM.

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