Biovica International (BIOVIC) Q1 25/26 earnings summary

Executive summary

• Achieved ninth consecutive quarter of growth, with US IVD sales up over 90% year-over-year in local currency and 30% sequential growth for the last two quarters.

• Expanded US market presence through a major partnership with Tempus AI, leveraging their network of 6,500+ oncologists for broader reach.

• Launched DiviTum TKa as a Laboratory Developed Test for early breast cancer, expanding the addressable market up to USD 3 billion annually.

• Pharma Services business revitalized, signing several new Tier-One Master Services Agreements and growing the pipeline to SEK 27 million over 36 months.

• Raised SEK 122 million through a fully guaranteed rights issue and directed share issue, supporting growth and cash flow positivity targets for FY 26/27.

Financial highlights

• Q1 net sales rose 51% year-over-year to SEK 2,596 thousand, with US IVD sales up 72% and Pharma Services up 40%.

• US business grew 90% year-over-year in Q1 and 27% sequentially from Q4.

• Cash position at end of Q1 was SEK 16.3 million, with SEK 122 million raised post-period, exceeding the SEK 80 million target.

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

• Net operating cash flow improved by SEK 12 million year-over-year.

Outlook and guidance

• On track to reach SEK 50 million fiscal year revenue target, with long-term goal to achieve cash flow positivity by Q3 FY 26/27.

• Tempus AI partnership expected to drive significant revenue growth once implementation is complete, with first sales support anticipated in Q3 or Q4.

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

• Ongoing efforts to enter clinical guidelines, with an application submitted to the NCCN and feedback expected later this year.