Scibase (SCIB) Q1 2025 earnings summary

Executive summary

• Net sales increased by 46% year-over-year to SEK 8.9 million, driven by strong US and German performance.

• US skin cancer segment sales surged 306% year-over-year, with new customer acquisitions and expanded market presence.

• Gross margin improved to 70.5% from 69.9% in Q1 2024, supported by a favorable sales mix.

• Loss after tax widened to SEK 27.5 million from SEK 10.9 million, mainly due to increased US investments and negative currency effects.

• Cash position strengthened to SEK 34.3 million following successful rights and directed share issues.

Financial highlights

• Net sales: SEK 8,856k (Q1 2024: SEK 6,057k), +46% year-over-year.

• Gross margin: 70.5% (Q1 2024: 69.9%).

• Operating loss: SEK -19,578k (Q1 2024: SEK -14,264k).

• Loss after tax: SEK -27,510k (Q1 2024: SEK -10,861k).

• Cash flow from operations: SEK -26,001k (Q1 2024: SEK -13,182k).

• Earnings per share: SEK -0.09 (Q1 2024: SEK -0.09).

Outlook and guidance

• Continued strong growth expected in all markets for 2025, with US expansion and reimbursement efforts as key priorities.

• Stable development anticipated in Germany, with new S3 melanoma guidelines expected later in 2025.

• Ongoing investments in US market and product development, with additional financing likely needed for long-term growth.