ArcticZymes Technologies (AZT) Pareto Securities' 17th Annual Healthcare Conference presentation summary

Platform overview and market positioning

• High-margin enzyme platform supports advanced therapies and molecular diagnostics, generating recurring revenue and scaling margins.

• Over 30 years of enzyme innovation, with direct global sales and a team of 55 experts.

• Diversified across four high-growth markets: PCR, NGS, viral vector, and RNA therapeutics, with no single-market dependency.

• Enzymes are embedded in customer workflows and regulatory filings, creating high switching costs and sticky, long-term accounts.

• Platform addresses a shared biological challenge in both therapies and diagnostics, not tied to any specific product.

Financial performance and growth drivers

• Achieved 118 MNOK revenue in 2025, with positive EBITDA and strong growth momentum.

• H1 2026 sales revenue grew 27% (+39% CER), with consecutive quarterly growth and 9 MNOK EBITDA.

• Largely fixed cost base enables significant operating leverage; revenue growth from 120 to 200 MNOK can lift EBITDA margin from ~12% to ~32%.

• Gross margin remains 95-98% across revenue scenarios, with EBITDA margin scaling up to 35% as revenue grows.

• 265 MNOK cash and zero debt provide funding for organic growth and selective M&A.

Business model and customer value

• Acts as a 'picks and shovels' provider in the biotech sector, earning revenue from every customer regardless of which therapy or test succeeds.

• Revenue is generated throughout the customer lifecycle, from development to commercial launch, often spanning decades.

• Case studies show how embedding enzymes in customer workflows leads to compounding, long-term revenue streams.

• Per-account revenue in cell and gene therapy can scale significantly with program size and manufacturing scale.

• Four growth levers—diagnostic cancer screening, RNA therapeutics, metagenomics, and CDMO integration—each have the potential to re-rate equity without increasing the cost base.