Inify Laboratories (INIFY) Q2 2024 earnings summary

Executive summary

• Achieved 62% sequential revenue growth in Q2 2024, reaching SEK 3.6 million, and delivered over 1,000 diagnoses since launch.

• Positive financial results in the Swedish subsidiary, with growing customer base and market share estimated at 5% in Sweden.

• Celebrated one-year anniversary of laboratory operations, with ISO 15189 accreditation and strong customer feedback on quality and response times.

• Intensified international market mapping, especially in Europe, and expanded team for local presence.

Financial highlights

• Q2 2024 net sales: SEK 3.6 million, up from SEK 125 thousand in Q2 2023; H1 2024 sales: SEK 5.8 million.

• EBITDA for Q2 2024: SEK -12.9 million, improved from SEK -13.6 million in Q2 2023.

• Net result for Q2 2024: SEK -13.6 million, compared to SEK -14.3 million in Q2 2023.

• Cash position at period end: SEK 46.1 million; equity ratio: 85.4%.

• Operating income for Q2 2024: SEK 3.6 million; operating result: SEK -14.1 million.

Outlook and guidance

• Focus on increasing Swedish market share and accelerating international expansion in the coming quarters.

• Continued growth expected, supported by positive customer feedback and robust system performance.