Genetic Analysis (GEAN) Q1 2026 earnings summary

Executive summary

• Achieved strong revenue growth in Q1 2026, with sales up 60% year-over-year, driven by recurring reagent kit sales and expansion in key markets.

• Launched GA-map® Alnsight, an AI-assisted interpretation platform, and advanced the GA-map® IBD Precision Dx test to the validation phase.

• Secured first commercial order from a Chinese partner, marking a strategic milestone for market expansion.

Financial highlights

• Sales revenue reached NOK 3.8 million in Q1 2026, up from NOK 2.4 million in Q1 2025 (60.2% increase).

• Operating income was NOK 4.4 million, up 9.4% year-over-year.

• Gross margin was 73.2%, down from 83.6% due to US import duties and weaker USD.

• EBITDA was NOK -3.2 million, similar to NOK -3.1 million in Q1 2025.

• Net loss was NOK -4.6 million, unchanged from Q1 2025.

• Cash and cash equivalents stood at NOK 20.0 million at quarter-end, up 87.2% year-over-year.

Outlook and guidance

• Expects continued revenue growth driven by increased adoption of GA-map® solutions and expansion in Europe, US, and China.

• Anticipates new customer interest with the launch of GA-map® IBD Precision Dx and further scaling of reagent kit sales.

• Positive momentum supported by expanding partner laboratory base and favorable market trends.