Scibase (SCIB) Q1 2026 earnings summary

Executive summary

• Net sales for Q1 2026 reached SEK 14.3 million, up 61% year-over-year, and 80% when adjusted for currency effects.

• US sales surged by 79% (109% in local currency), while Germany grew 5% in local currency.

• Electrode sales volume increased by 70% to 30,460 units, with repeat sales up 73%.

• Gross margin declined to 49.2% from 70.5% due to currency effects, low-margin clinical study deliveries, and higher input costs.

• Loss after tax was SEK 24.5 million, compared to SEK 20.7 million in Q1 2025.

Financial highlights

• Net sales: SEK 14,278k (Q1 2025: SEK 8,856k), +61% year-over-year.

• Gross margin: 49.2% (Q1 2025: 70.5%).

• Operating loss: SEK 24,453k (Q1 2025: SEK 19,578k).

• Loss per share: SEK -0.03 (Q1 2025: SEK -0.07).

• Cash flow from operations: SEK -26,573k (Q1 2025: SEK -26,001k).

• Cash and cash equivalents at period end: SEK 71.3 million.

Outlook and guidance

• Management expects continued strong growth and a return to higher gross margins as cost measures and capacity utilization improve.

• The company anticipates obtaining broader reimbursement in the US during 2026.

• Additional financing will be required beyond 2026 to support the strategic plan.